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Vantage sees flooding in underground mine

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Australian listed Vantage Goldfields has seen underground flooding at its Lily mine.

The mine, in South Africa, intersected a water-bearing fissure during underground development.

This caused temporary flooding of Lily's lower levels, which was exacerbated by the unusually high levels of rainfall that had recently hit the region.

The miner managed to quickly drain the fissure and halt the flooding, and has since completely dewatered the mine.

"The financial effect of the incident is expected to be approximately $1 million in lost revenue," Vantage said in a company statement.

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