Ivernia Feeling Pressure From Weak Lead Prices

Ivernia (TSX:IVW) noted that it anticipates meeting its production guidance for the year, but expects sales to fall and anticipates lower realized sales prices for lead concentrate. The company has implemented cost saving measures, but noted that the LME lead metal price has fallen 14 percent below average for the third quarter of 2014.

As quoted in the press release:

At a board meeting held on December 22, 2014, the Board appointed a Finance Committee to oversee a strategic review of the Company’s operations by management with regard to current LME lead metal prices, the Company’s ongoing resource optimization and life of mine planning, operating costs and debt repayment obligations. The Finance Committee expects to report to the Board of Directors in the next 30 days with recommendations from the review on how the Company should respond to current market conditions.

Click here to read the Ivernia (TSX:IVW) press release