Not sure if the gates need to be open. 10 guys were there at the end of the day Thursday and it was working for most of us. The sweet spot was somewhat surfer-left in the river. This vid from Friday suggests the wave went much further toward the surfer-right bank: Big Sur Wave, Western Colorado, Colorado River - YouTube
Seems like with even bigger flows it should not be missed -- especially if you're only that far away.
I, personally, am unlikely to be there, but I'd be shocked if there weren't a crowd.
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