Trevali Provides an Update on Search Efforts at Perkoa Mine

Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) provides an update on search efforts at the Perkoa Mine in Burkina Faso following an April 16 flooding event.

Trevali Mining Corporation Logo (CNW Group/Trevali Mining Corporation)

To date, approximately 32 million litres of water have been removed from the Mine and access has been restored to Level 550. There has been no communication with the eight missing workers since April 16 and none have been located yet. The Company continues to strengthen search capabilities with additional equipment and resources, and search crews will continue to work at maximum capacity, 24-hours-per-day to locate the missing individuals.

Throughout the search process, senior representatives of Trevali and Byrnecut, the mining contractor at Perkoa, have been in daily communication with the families of the missing workers and continue to offer support.

"We are working in solidarity with all levels of government and as fast as we possibly can using all available resources in the country, as well as importing additional machinery and equipment to assist with locating our missing colleagues," said Ricus Grimbeek, President and CEO. "Our thoughts are with our colleagues' families, and we continue to work closely with the families and the government to ensure their needs are met during this difficult time."

Added Mr. Grimbeek, "Trevali is appreciative of the support of the government and various agencies in Burkina Faso . We welcome the decision by the government to move its crisis management committee nearer to the mine site to better include family members of the missing workers and facilitate closer collaboration as we rapidly work to locate the missing individuals. We will remain closely engaged with government authorities to help the community respond to the impacts of the recent flooding."

Dewatering and Mine Access Rehabilitation Progress Update

The search effort requires the careful rebuilding of the road on more than 5,000 metres of underground decline ramp in order to facilitate the search efforts and safely install and operate pumping and piping infrastructure to remove floodwater. As of May 8 :

  • Approximately 25,000 tonnes of waste rock has been used in rehabilitation of the mine access ramp
  • 5,000 metres of new poly pipe has been welded and installed in addition to the existing pipes
  • More than 24 electric and diesel pumps have been installed and put into operation
  • Approximately 32 million litres of water have been removed from the mine

The full extent of required mine rehabilitation efforts will become known as dewatering progresses to the bottom of the mine at Level 710.

The Company is in regular communications with Burkinabe authorities and is grateful for the search and rescue assistance received from them as well as the Burkina Faso mining community. The Burkina Faso National Fire Brigade has been on site at the Mine since shortly after the flooding event, working alongside Trevali's and West African Resources's search and rescue teams. Personnel from the Burkinabe Ministry of Mines and Quarries, the Governor of Central-West Region, the High Commissioner of Réo, the President of the Chamber of Mines, the Minister of Civil Service, Labour and Social Protection; the Minister of National Education, Literacy and Promotion of National Languages; Military Civil Construction, and others have all lent their support and coordination to the urgent search and rescue activities and have made numerous visits to the mine site. Trevali welcomes all support from the authorities in assisting with the search and rescue efforts. In addition, family members of the missing workers have received regular briefings on the search status and have been to the site and reviewed progress underground. The Company is committed to full transparency in its actions and communication of updates to the families and the authorities.

The Company will provide further details on progress of search activities and site investigation as more information becomes available.

About Trevali Mining Corporation

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company's website ( www.trevali.com ) and to Canadian regulatory filings on SEDAR at www.sedar.com .

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Forward-looking statements are based on the beliefs, expectations and opinions of management of the Company as of the date the statement are published, and the Company assumes no obligation to update any forward-looking statement, except as required by law. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "outlook", "guidance", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements with respect to the suspension of mining and milling operations at Perkoa, the search efforts at Perkoa, including the Company's plans with respect thereto, the efficacy of the Company's pumping, decline ramp rehabilitation and de-watering activities and  its efforts to restore electrical power and communications at the lower levels of Perkoa, the Company's ability to effectively dewater the mine and restore access to the lower levels of Perkoa, the results of any investigation of the flooding incident, the Company's assessment of the effect of the flooding on the safety and structural integrity of Perkoa's underground areas, the effect of the flooding on the cost of production at Perkoa, the length of time before underground mining operations can be recommenced safely at Perkoa and the effect of the suspension on the Company's results of operations and metal production. As well, forward looking statements relate to the Company's growth strategies, the continued success of mineral exploration, the content, cost, timing and results of future exploration programs and life of mine expectancies, Trevali's ability to fund future exploration activities, estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production and capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses and title disputes or claims. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to to the Company's search efforts and plans to remedy the impact of the flooding at the Perkoa Mine, including that such efforts and plans will not be effective or achieve their desired outcomes; actual results of current exploration activities, including the inherent uncertainty of mineral exploration and estimations of exploration targets; changes in project parameters as plans continue to be refined; future prices of zinc, lead, silver and other minerals and the anticipated sensitivity of our financial performance to such prices; possible variations in ore reserves, grade or recoveries; dependence on key personnel; potential conflicts of interest involving our directors and officers; labour pool constraints; labour disputes; availability of infrastructure required for the development of mining projects; delays or inability to obtain governmental and regulatory approvals for mining operations or financing or in the completion of development or construction activities; counterparty risks; increased operating and capital costs; foreign currency exchange rate fluctuations; operating in foreign jurisdictions with risk of changes to governmental regulation, including any new or ongoing decrees and regulations issued by any governmental authority in response to the COVID-19 pandemic; compliance with governmental regulations; compliance with environmental laws and regulations; land reclamation and mine closure obligations; challenges to title or ownership interest of our mineral properties; maintaining ongoing social license to operate; impact of climatic conditions on the Company's mining operations; corruption and bribery; limitations inherent in our insurance coverage; compliance with debt covenants; competition in the mining industry; our ability to integrate new acquisitions into our operations; cybersecurity threats; litigation; and other risks of the mining industry including, without limitation, other risks and uncertainties that are more fully described in the Company's annual information form, interim and annual audited consolidated financial statements and management's discussion and analysis of those statements, all of which are filed and available for review under the Company's profile on SEDAR at www.sedar.com . Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Trevali provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events may differ from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

SOURCE Trevali Mining Corporation

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2022/09/c2789.html

News Provided by Canada Newswire via QuoteMedia

TV:CA,TREVF
The Conversation (0)
FWB:4TI

Trevali to Release Third Quarter Results on November 5, 2019

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL:TV, OTCQX:TREVF, Frankfurt:4TI) announces that the operating and financial results for the third quarter ended September 30, 2019, will be released on Tuesday, November 5, 2019 after the Toronto Stock Exchange market close.

Q3-2019 Results Conference Call

Keep reading...Show less
FWB:4TI

Trevali Establishes Automatic Share Purchase Plan

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL:TV; OTCQX:TREVF, Frankfurt:4TI) today announced that, in connection with its previously announced normal course issuer bid (“NCIB”) to purchase up to 40,000,000 of its common shares (“Common Shares”), it has entered into an automatic share purchase plan (“ASPP”) with its designated broker. The ASPP is intended to allow for the purchase of Common Shares under the NCIB at times when Trevali would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.

Pursuant to the ASPP, before entering into a blackout period, the Company may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by Trevali in accordance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and implemented as of September 20, 2019, and will terminate on the earliest of the date on which: (i) the purchase limit under the NCIB has been reached; (ii) the NCIB expires; and (iii) the Company terminates the ASPP in accordance with its terms.

Keep reading...Show less
OTCQX:TREVF

Trevali announces Annual General Meeting results

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL:TV; OTCQX:TREVF, Frankfurt:4TI) announced the voting results from its Annual and Special Meeting of Shareholders (the “Meeting”) held on July 31, 2019 in Vancouver, British Columbia. Shareholders voted in favour of all items of business before the Meeting as follows:

Keep reading...Show less
Zinc Investing

Trevali to Release Second Quarter Results on July 31, 2019

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL:TV) announces that the operating and financial results for the second quarter ended June 30, 2019, will be released on Wednesday, July 31, 2019 after the Toronto Stock Exchange market close.

The Company will host a conference call and presentation webcast at 11:00AM Eastern Time on Thursday, August 1, 2019 to review the operating and financial results. Participants are advised to dial in five minutes prior to the scheduled start time of the call. A presentation will be made available on the Company’s website prior to the conference call.

Keep reading...Show less
Zinc Investing

Trevali Releases its Inaugural Sustainability Report

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL: TV) announced today that it has issued its inaugural Sustainability Report, which is available at www.trevali.com.

“This report is our first step towards becoming more transparent in how we manage the elements of sustainability,” said Ricus Grimbeek, President and CEO. “We will keep improving the quality of our data and management practices and build on the good progress we have made so far. The future of mining requires meeting higher sustainability standards and is an essential part of Trevali’s objective to become an industry leader in sustainability and one of the best underground mining companies in the world.”

Keep reading...Show less

Trevali Mining Corporation Announces Completion of a Private Transaction for Sale of Prism Resources Inc. Shares.

Trevali Mining Corporation (OTCQX: TREVF) (the "Company") completed a private sale transaction on February 28, 2024 (the "Sale"), pursuant to which the Company disposed of 5,750,000 common shares ("Common Shares") in the capital of Prism Resources Inc. ("Prism") for an aggregate sale price of CAD$100,000 (approximately CAD$0.0174 per share).

On August 19, 2022, the Company sought and obtained an order (the "Initial Order") from the Supreme Court of British Columbia (the "Court") under the Companies' Creditors Arrangement Act (Canada) (the "CCAA"), for an order which provides, among other things, a stay of creditor claims and proceedings. Pursuant to the Initial Order, FTI Consulting Canada Inc. was appointed as the monitor of the Company (the "Monitor").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
zinc bars

5 Top Weekly TSXV Stocks: Wolfden Resources Leads the Pack with 80 Percent Gain

The S&P/TSX Venture Composite Index (INDEXTSI:JX) slumped 7.87 points this past week to close at 549.08.

Minutes from the Bank of Canada’s January meeting, during which the governing council decided to keep interest rates unchanged at 5 percent, were released last Wednesday (February 7). They show that while the council believes the economic slowdown has helped relieve inflationary pressures, just over half of the components of the consumer price index (CPI) have been growing at a rate above 3 percent. That indicates persistence in broad-based drivers of inflation.

The council also said it is concerned about shelter prices, noting that a rebound in the housing market in the spring could keep CPI numbers above its 2 percent target, even if other components continuing to approach the target.

Keep reading...Show less
rolls of steel in a warehouse

Zinc Stocks: 5 Biggest Canadian Companies in 2024

Zinc prices were mostly rangebound in 2023 as the market shifted into oversupply. Although the sector is expected to cool further in 2024, ultimately experts agree that its long-term fundamentals remain healthy.

Many base metals have been hit with weakened demand in the past year due to sticky inflation and higher interest rates, and zinc is no exception. Zinc supply has also faced pressure from higher mining and refining costs, causing some major zinc operations and smelters to suspend operations, with more possible if the current economic situation continues. Once demand rebounds along with the economy, stunted supply may once again push zinc prices to the upside.

For investors interested in zinc, the Investing News Network has gathered the biggest TSX- and TSXV-listed zinc stocks by market cap. The list below includes zinc miners and explorers, as well as companies pursuing zinc as a secondary metal.

Keep reading...Show less
zinc sheet roofing

Zinc Price Forecast: Top Trends That Will Affect Zinc in 2024

2023 saw the zinc price take a slide as the market entered surplus territory.

The expectation at the start of 2023 was that zinc would see modest demand growth during the year. “The recovery of China and the resilience of demand from countries such as India will help return global consumption to growth after it fell in 2022,” Jonathan Leng, principal analyst at Wood Mackenzie, told the Investing News Network (INN) at the time.

However, after forecasting 2023 zinc demand growth of 2.1 percent in April, the International Lead and Zinc Study Group cut its projection to 1.1 percent in October. By the year's end, CRU Group was estimating a contraction of 0.4 percent.

Keep reading...Show less
figurines mining zinc

Zinc Price 2023 Year-End Review

Zinc started 2023 in a strong position, having come close to all-time highs in April 2022.

However, zinc fell in H1 amid a rout in the base metals market. While smelting and supply issues from 2022 supported the price early on, weak demand, particularly due to a slower economic recovery in China, caused zinc to move from undersupplied to oversupplied by the end of the year. The vast majority of zinc is used in alloys and for galvanization.

After dropping in the first half of 2023, zinc remained largely rangebound for the rest of the year, staying below the US$2,700 per metric ton (MT) level. Read on to learn more about what factors impacted the market during the period.

Keep reading...Show less
mining equipment

Top 10 Countries for Zinc Production

Zinc prices reached record highs last year, but have trended lower in 2023 on growing economic uncertainty.

The commodity has suffered the same fate as most other base metals, which have been battered by concerns about Russia's war in Ukraine and the widespread economic fallout that may push the world into a a recession.

The broad consensus among market watchers is that zinc prices will do better in the years to come. This is not only because of renewed demand, but also because low prices and high energy costs have led to production cuts at major zinc-mining operations around the world. While output is expected to rebound in 2023, the International Lead and Zinc Study Group is still predicting that demand for refined zinc metal will exceed supply for the year, although modestly.

Keep reading...Show less

Latest Press Releases

Related News

×