Trevali Mining Reports 2015 First Quarter Financial Results

Trevali Mining Corporation (TSXV:TV,OTCMKTS:TREVF) announced its first quarter 2015 financial results, which showed a net loss of $2.8 million or $0.01 per share, partially due to non-recurring items. The company’s Santander mine’s operational income for the quarter was $2.2 million on concentrate sales revenue of $25.9 million. It also announced the date for a conference call and audio webcast to review the results.

As quoted in the press release:

• Concentrate sales revenue of $25.9 million
• EBITDA(1) of $2.9 million
• Income from Santander mine operations of $2.2 million
• Net loss of $2.8 million or ($0.01) per share (partially due to a non-re-occurring loss on a litigation settlement incurred during the quarter)
• Q1 site cash costs(2) of US$0.39 per pound of payable Zinc Equivalent (“ZnEq”)(3) produced or US$48.88/tonne milled in line with Company’s 2015 cost guidance
• Q1 production of 12.5-million payable pounds of zinc, 7.4-million payable pounds of lead and 254,805 payable ounces of silver
• Realized selling prices for zinc, lead and silver of US$0.93 per pound, US$0.81 per pound and US$16.43 per ounce respectively
• Mill recoveries increased materially above design at 90% for both Zn and Pb, and 80% for Ag in Q1-2014

Q1-2015 Financial Results Conference Call

The Company will host a conference call and audio webcast at 10:30 a.m. Eastern Time (7:30 a.m. Pacific Time) on Friday, May 15, 2015 to review the financial results. Participants are advised to dial in 5-to-10 minutes prior to the scheduled start time of the call.

Mark Cruise, president and CEO of Trevali, commented:

Despite depressed base metal and silver prices over the first quarter, our Santander mine continues to generate positive cash flow on an operations level. It is encouraging to see that zinc and lead prices have recovered significantly this current quarter. As the most zinc-leveraged base metal producer on the TSX we remain very positive on the short-to-medium-term macro-zinc fundamentals, particularly when coupled with the imminent commencement of production at our Caribou Mine and pending Stratmat deposit resource estimate update.

Click here to read the Trevali Mining Corporation (TSXV:TV,OTCMKTS:TREVF) press release
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