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Trevali Mining (TSX:TV) has reported its financial results for the three and nine months ended September 30 2014. The company posted net earnings of $1.6 million for the third quarter.
Trevali Mining (TSX:TV) has reported its financial results for the three and nine months ended September 30 2014. The company posted net earnings of $1.6 million for the third quarter.
As quoted in the press release, highlights of results include:
- EBITDA(1) of $6.4 million
- Income from Santander mine operations of $5 million (Year-to-date income of $10.7 million)
- Net income of $1.6 million or $0.01 per share
- Working capital position of $45.3 million
- Concentrate sales revenue of $28 million
- Site cash cost(2) of US$0.40 per pound of payable Zinc Equivalent (“ZnEq”)(3) produced
- Production of 12.6-million payable pounds of zinc, 6.3-million payable pounds of lead and 217,600 payable ounces of silver
- 2014 Santander production guidance increased
- Realized selling prices for zinc, lead and silver of US$1.02 per pound, US$1.00 per pound and US$19.79 per ounce respectively
Trevali president and CEO, Dr. Mark Cruise, said:
We are pleased to deliver successful quarterly growth in this, the Company’s maiden production year. Santander continues to perform well against our cost and guidance hurdles and we foresee further improvements ahead as we continue to implement our optimization programs. Our strong working capital position of $45 million will enable us to successfully execute the re-start of mining operations at our Caribou Mine that remains on track for commissioning during the first half of 2015. This will enable Trevali to grow its commanding position as one of the few global primary zinc producers in tandem with significant anticipated global zinc concentrate short falls from late 2015 onwards.
Click here to read the Trevali Mining Corp. (TSX:TV) press release
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