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Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV) (OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) has released financial results for the three months and nine months ending September 30, 2017. Third quarter (“Q3”) EBITDA(1) was US$20 million on concentrate sales revenues of US$81.6 million, however a net loss of US$7.8 million ($0.01 per share) was posted primarily attributable to one-time transaction expenses related …
Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV) (OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) has released financial results for the three months and nine months ending September 30, 2017. Third quarter (“Q3”) EBITDA(1) was US$20 million on concentrate sales revenues of US$81.6 million, however a net loss of US$7.8 million ($0.01 per share) was posted primarily attributable to one-time transaction expenses related to the acquisition of Glencore PLC’s African zinc mines.
This release should be read in conjunction with Trevali’s unaudited condensed consolidated financial statements and management’s discussion and analysis for the three months and nine months ended September 30, 2017, which is available on Trevali’s website and on SEDAR. As at January 1, 2017 the Company has changed is presentation currency to the U.S. dollar (US). All financial figures are in US dollars unless otherwise stated.
Q3-2017 Results Highlights:
- Record concentrate sales revenue of $81.6 million, up 86% versus $43.9 million in Q3-2016
- EBITDA(1) of $20 million
- Operating cashflow of $0.11 per share YTD versus $0.05 per share in the same period in 2016
- Net loss of $7.8 million or ($0.01) per share, primarily attributable to one-time transaction expenses related to the acquisition of Glencore PLC’s African zinc mines
- Record income from mine operations of $28.4 million versus $8.1 million in Q3-2016, an increase of over 250 percent
- Record total cash position of $105.7 million and working capital of $135.5 million
- Quarterly consolidated zinc production of 58.4 million payable lbs., lead production of 12.5 million payable lbs. and 433,442 payable ozs. of silver; 73.3 million payable lbs. of Zinc Equivalent (“ZnEq”)(2)
- Consolidated site cash costs of $0.42 per pound of payable ZnEq(2) produced or $53.86/tonne milled
- Provisional realized commodity selling prices for Q3-2017 sales was $1.40 per pound zinc, $1.08 per pound lead and $17.17 per ounce silver
“Q3 marked a transformation event for Trevali with the August 31st closure of the Perkoa and Rosh Pinah zinc mines acquisition,” stated Dr. Mark Cruise, Trevali’s President and CEO. “Despite just one month of production from our two new mines incorporated into our operational reporting, Trevali’s third quarter set new records for concentrate sales revenues, EBITDA, operations income and cash balance that is reflected in the Company’s de-risked and greatly strengthened balance sheet. Trevali is now a Global Top-10 zinc producer and strongly positioned to benefit from forecast strengthening zinc prices.”
Q3-2017 Financial Results and Conference Call
The Company will host a conference call and audio webcast at 10:30AM Eastern Time on Wednesday, November 15, 2017 to review the financial results. Participants are advised to dial in 5-to-10 minutes prior to the scheduled start time of the call.
Conference call dial-in details:
Toll-free (North America): 1-877-291-4570
Toronto and international: 1-647-788-4919
Audio Webcast: https://www.gowebcasting.com/9028
Summary Financial Results (US$ millions, except per-share amounts)
For the full press release please follow this link
Click here to connect with Trevali Mining Corporation (TSX:TV) to receive an Investor Presentation.
Source: www.cbj.ca
