Trevali Mining Corporation
(“
Trevali” or the “
Company”)
(TSX:TV) (BVL:TV) (OTCQX:TREVF) (Frankfurt:4TI) reports its
majority-owned subsidiary Rosh Pinah Zinc Corporation (Proprietary)
Limited (“
RPZC”) in Namibia will, subject to
receipt of Companies Registration Office and Registrar approval,
undertake a partial share buy-back of issued RPZC shares under
agreements with its Namibian shareholders.
RPZC will acquire issued shares tendered under
the agreements for an aggregate amount of approximately
NAD291,000,000 (approximately USD$24,260,000). The tendered shares
will subsequently be cancelled by RPZC’s treasury.
Following the cancellation of the tendered
shares, Trevali’s effective beneficial ownership in RPZC will
increase from approximately 80 percent to approximately 90
percent.
RPZC Beneficial Ownership
Structure:
Group |
Beneficial RPZC Ownership
(Pre-Transaction) |
Beneficial RPZC Ownership
(Post-Transaction) |
Trevali |
80 |
% |
90 |
% |
Namibian shareholders |
20 |
% |
10 |
% |
“We welcome this opportunity to strengthen our
involvement in Rosh Pinah, which globally is an upper-quartile zinc
deposit in terms of grade and tonnage,” stated Dr. Mark Cruise,
Trevali’s President and CEO. “Following our recent mineral reserve
and resource updates at Rosh Pinah, which remains open for
expansion, we have commissioned an independent engineering study
examining potential production optionality given the deposit’s
almost 50-year history of resource-reserve replacement and growth.
Trevali views its operations and investment in Namibia as a
long-term relationship to the mutual benefit of all groups
involved.”
Rosh Pinah remains on-track for its 2018
production guidance(1) of 105-115 million pounds of payable zinc,
5.7-6.0 million pounds payable lead and 123,000-129,000 ounces of
payable silver, on a 100 percent basis. Key strategic improvements
started in late-2017 produced significant improvements in overall
performance and has positioned the site well for the year with
increasing metal output planned for the second half of 2018 as
higher-grade stopes are sequenced.(1) Constitutes forward-looking
information; see “Cautionary Note Regarding Forward-Looking
Statements”.
ABOUT TREVALI MINING
CORPORATIONTrevali is a zinc-focused, base metals company
with four mines: the wholly-owned Santander mine in Peru, the
wholly-owned Caribou mine in the Bathurst Mining Camp of northern
New Brunswick, its 80% owned Rosh Pinah mine in Namibia and its 90%
owned Perkoa mine in Burkina Faso.
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.
On Behalf of the Board of Directors ofTREVALI MINING
CORPORATION“Mark D. Cruise” (signed)Mark D. Cruise,
President
Contact Information:Steve Stakiw, Vice
President - Investor Relations and Corporate CommunicationsEmail:
sstakiw@trevali.comPhone: (604) 488-1661 / Direct: (604)
638-5623
Cautionary Note Regarding
Forward-Looking StatementsThis news release contains
“forward-looking information” within the meaning of the Canadian
securities legislation and “forward-looking statements” within the
meaning of Section 27A of the United States Securities Act of 1933,
as amended, Section 21E of the United States Exchange Act of 1934,
as amended, the United States Private Securities Litigation Reform
Act of 1995, or in releases made by the United States Securities
and Exchange Commission, all as may be amended from time.
Statements containing forward-looking information express, as at
the date of this news release, the Company’s plans, estimates,
forecasts, projections, expectations, or beliefs as to future
events or results and the Company does not intend, and does not
assume any obligation to, update such statements containing the
forward-looking information. Such forward-looking statements and
information include, but are not limited to statements as to: the
timing and amount of estimated future production, the estimation of
Mineral Resources and Mineral Reserves, costs and timing of
development, operating efficiencies, including the ability to
manage water, whilst reducing power consumption, costs and
expenditures, expectations regarding milling operations and metal
production shortfalls, metal output and throughput rates, cost
guidance and anticipated annual results, anticipated results of
future exploration, and forecast future metal prices.
These statements reflect the Company’s current
views with respect to future events and are necessarily based upon
a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. If any assumptions are untrue, it could cause
actual results, performance or achievements to be materially
different from future results, performance or achievements
expressed or implied by such statements. Assumptions have been made
regarding, among other things, present and future business
strategies and the environment in which the Company will operate in
the future, including commodity prices, anticipated costs and
ability to achieve goals.
Forward-looking statements are subject to known
and unknown risks, uncertainties and other important factors that
may cause the Company’s actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to: risks related to joint venture operations;
fluctuations in spot and forward markets for silver, zinc, base
metals and certain other commodities (such as natural gas, fuel oil
and electricity); fluctuations in currency markets; risks related
to the technological and operational nature of the Company’s
business; changes in national and local government, legislation,
taxation, controls or regulations and political or economic
developments in Canada, the United States, Peru, Namibia, Burkina
Faso, or other countries where the Company may carry on business in
the future; risks and hazards associated with the business of
mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected
geological or structural formations, pressures, cave-ins and
flooding); risks relating to the credit worthiness or financial
condition of suppliers, refiners and other parties with whom the
Company does business; inadequate insurance, or inability to obtain
insurance, to cover these risks and hazards; employee relations;
relationships with and claims by local communities and indigenous
populations; availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development, including the risks of obtaining
necessary licenses and permits and the presence of laws and
regulations that may impose restrictions on mining; diminishing
quantities or grades of Mineral Resources as properties are mined;
global financial conditions; business opportunities that may be
presented to, or pursued by, the Company; the Company’s ability to
complete and successfully integrate acquisitions and to mitigate
other business combination risks; challenges to, or difficulty in
maintaining, the Company’s title to properties and continued
ownership thereof; the actual results of current exploration
activities, conclusions of economic evaluations, and changes in
project parameters to deal with unanticipated economic or other
factors; increased competition in the mining industry for
properties, equipment, qualified personnel, and their costs, as
well as those factors discussed in the section entitled “Risk
Factors” in the Company’s most recently filed annual information
form. Investors are cautioned against attributing undue certainty
or reliance on forward-looking statements. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described or intended.
The Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affecting such statements or information, other than as
required by applicable law.
We advise US investors that while the terms
"Measured Mineral Resources", "Indicated Mineral Resources" and
"Inferred Mineral Resources" are recognized and required by
Canadian regulations, the US Securities and Exchange Commission
does not recognize these terms. US investors are cautioned not to
assume that any part or all of the material in these categories
will ever be converted into reserves.
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