Trevali Provides Update on Extension of Government Declaration of National Emergency in Peru
March 27 2020 - 11:00PM
Trevali Mining Corporation (“Trevali” or the “Company”)
(TSX: TV, BVL: TV; OTCQX: TREVF, Frankfurt: 4TI) The
Peruvian President announced on March 26th that the Government
extended the state of National Emergency which restricts travel in
its efforts to contain the outbreak of COVID-19 to April 12th. An
additional 13 days were added to the original 15-day period.
The Santander mine has been in full compliance
with the Government’s requirements since the National Emergency was
declared and has been able to continue operations with no material
impact to date. However, as a result of the extension of the
declaration, the Company will not be able to process ore for the
duration of the extension due to the consumption of reagents on
site. Mining and other activities will continue, and mined ore will
be stockpiled until April 12, 2020 at which time the Company
anticipates resuming normal production levels, including milling at
the Mine.
Ricus Grimbeek, President and CEO stated, “We
have made modifications to the operations at Santander so we can
continue to mine and stockpile ore. More importantly, our workforce
is healthy as we have had no suspected cases of COVID-19. We are
ready for a quick and efficient ramp up of the processing facility
back to normal levels once the state of emergency is lifted.”
ABOUT TREVALI
Trevali is a global base-metals mining company,
headquartered in Vancouver, Canada. The bulk of Trevali’s revenue
is generated from base-metals mining at its four operational
assets: the 90%-owned Perkoa Mine in Burkina Faso, the 90%-owned
Rosh Pinah Mine in Namibia, the wholly-owned Caribou Mine in
northern New Brunswick, Canada and the wholly-owned Santander Mine
in Peru. In addition, Trevali owns the Halfmile and Stratmat
Properties and the Restigouche Deposit in New Brunswick, Canada,
and the past producing Ruttan Mine in northern Manitoba, Canada.
Trevali also owns an effective 44%-interest in the Gergarub Project
in Namibia, as well as an option to acquire a 100% interest in the
Heath Steele deposit located in New Brunswick, Canada.
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.
Investor Relations Contact:Brendan Creaney –
Vice President, Investor RelationsEmail: bcreaney@trevali.com
Phone: +1 (778) 655-6070
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 is
published, and the Company assumes no obligation to update any
forward-looking statement, except as required by law.
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 Company’s operations, including the impact on
the Santander mine of the national state of emergency declared by
the Peruvian government in response to the COVID-19 pandemic, the
ability to continue operations at Santander during the extended
state of emergency and to resume normal processing activities
following the conclusion of same, the Company’s growth strategies
and planned development activities. 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 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; compliance with governmental
decrees and regulations, including any new or ongoing decrees and
regulations issued by a governmental authority in response to the
COVID-19 pandemic; 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 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
Trevali Mining (TSX:TV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Trevali Mining (TSX:TV)
Historical Stock Chart
From Jul 2023 to Jul 2024