Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) announces
it has arranged a US$20-million working capital facility from
development partner Glencore International A.G. ("Glencore"). The
working capital facility is to cover short-term capital and cash
management needs at the Company's 100%-controlled Santander
Zinc-Lead-Silver Mine in Peru during the upcoming
commissioning/ramp-up phase and in ongoing operations.
The secured working capital facility is payable over a 4-year
period following commercial production at the Santander Mill and
bears an interest rate of LIBOR +5%. It may be pre-paid at any
stage without penalty. The working capital facility has been
provided by way of a first addendum to the Company's Framework
Agreement for the Development and Operation of the Santander
Project.
The Company also wishes to announce that it has entered into a
concentrate off-take agreement with Glencore for future metal
concentrates produced from the Company's Caribou operation located
in the Bathurst Mining Camp of New Brunswick.
"Through this ongoing support from Glencore, one of our largest
shareholders and Santander Mine development partner, we are pleased
to establish this working capital facility as our Santander
operation approaches production; and additionally to expand our
business relationship and further de-risk and streamline our New
Brunswick development plans," stated Dr. Mark Cruise, Trevali's
President and CEO. "Securing a long-term concentrate sales
agreement with Glencore, the world's largest commodity trader, is a
major vote of confidence in the potential of Trevali's Caribou
mine, the management team and our growth vision for the Bathurst
Mining Camp in New Brunswick."
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals development company with
operations in Canada and Peru - the Halfmile and Santander mines
respectively. In Canada, Trevali owns the Halfmile zinc-lead-silver
mine, the Caribou mine and mill, and Stratmat polymetallic deposit
all located in the Bathurst Mining Camp of northern New Brunswick.
The Company also has the past-producing Ruttan copper-zinc mine in
northern Manitoba. Initial trial production from the Halfmile mine
was successfully undertaken in 2012 and underground development is
ramping up to achieve a planned production rate of approximately
3,000-tonnes-per-day to feed planned operations at the Company's
Caribou Mill Complex in 2013.
In Peru, the Company has the Santander zinc-lead-silver mine and
the former-producing Huampar silver mine, both located in the
Central Peruvian Polymetallic Belt. Mine commissioning is
anticipated to commence at the Santander operation in Q4-2012 with
ramp up to full 2,000-tonnes-per-day production in 2013.
Additionally through its wholly-owned subsidiary, Trevali Renewable
Energy Inc., Trevali plans to undertake a significant upgrade of
its wholly-owned Tingo run-of-river hydroelectric generating
facility to allow, in addition to supplying power to the Santander
mining operation, the potential sale of surplus power into the
Peruvian National Energy Grid.
The common shares of Trevali are listed on the TSX (symbol TV),
the OTCQX (symbol TREVF) and on the Lima Stock Exchange (symbol
TV). Warrants to purchase common shares of Trevali are listed on
the TSX (symbol TV.WT). For further details on Trevali, readers are
referred to the Company's web site (www.trevali.com) and to
Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
TREVALI MINING CORPORATION
Mark D. Cruise, President
This news release contains "forward-looking statements" within
the meaning of the United States private securities litigation
reform act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation. 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
accuracy of estimated mineral reserves and resources, anticipated
results of future exploration, and forecast future metal prices,
anticipated results of future electrical sales and expectations
that environmental, permitting, legal, title, taxation,
socio-economic, political, marketing or other issues will not
materially affect estimates of mineral reserves. 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.
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.
Many factors, both known and unknown, could cause actual results,
performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements contained in this
news release and the company has made assumptions and estimates
based on or related to many of these factors.
Such factors include, without limitation: 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 (such as the Peruvian sol versus
the U.S. dollar); 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 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 reserves 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.
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.
Trevali's production plans at Halfmile-Stratmat, Caribou and
Santander are based only on Indicated and Inferred Mineral
Resources and not Mineral Reserves and do not have demonstrated
economic viability. Inferred Mineral Resources are considered too
speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as Mineral
Reserves, and there is therefore no certainty that the conclusions
of the production plans and Preliminary Economic Assessment (PEA)
will be realized. Additionally where Trevali discusses
exploration/expansion potential, any potential quantity and grade
is conceptual in nature and there has been insufficient exploration
to define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral
resource.
The TSX has not approved or disapproved of the contents of this
news release.
Contacts: Trevali Mining Corporation Steve Stakiw Manager -
Corporate Communications (604) 488-1661 / Direct: (604)
638-5623sstakiw@trevali.com www.trevali.com
Trevali Mining (TSX:TV.WT)
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De Dic 2024 a Ene 2025
Trevali Mining (TSX:TV.WT)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
