Trevali Reports Preliminary Economic Assessment of Caribou
Zinc-Lead-Silver Mine in New Brunswick
Base case mine plan indicates post-tax IRR of 56.9%
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2014) -
Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) announces results of
the independently prepared Preliminary Economic Assessment ("PEA")
for its wholly-owned Caribou zinc-lead-silver mine and mill
complex, located in the Bathurst Mining Camp of New Brunswick,
Canada.
The base case PEA indicates positive economic results for the
Caribou underground mining operation and mill complex with a
pre-production capital expenditure of $36.3 million, a post-tax
Internal Rate of Return ("IRR") of 56.9%, post-tax Net Present
Value ("NPV") of $106 million at a 5% discount rate, and average
annual payable production of approximately 93 million lbs. zinc,
32.5 million lbs. lead, 3.1 million lbs. copper, 730,000 ozs.
silver and 1,500 ozs. gold (Table 1).
Caribou Mine Project Preliminary Economic Assessment
Highlights: (based on US$1.00/lb Zn, US$1.00/lb Pb, US$3.00/lb Cu,
US$21/oz Ag, US$1200/oz Au and Canadian dollar exchange rate of
US$0.95) |
IRR |
|
- Pre-tax IRR of 69% with a 1.9-year payback - Post-tax IRR of
56.9% with a 2.1-year payback |
NPV |
|
- Pre-tax NPV(5%) of $150 million - Post-tax NPV(5%) of $106
million |
Production Costs |
|
- Direct LOM Cash Costs (C1) of US$0.46/lb zinc equivalent - Total
Site Operating Cost of $74.77/tonne milled (includes mining,
milling, G&A and Environmental) |
Capex |
|
- Pre-production capital of $36.3 million |
Production (Payable) |
|
- Average annual payable production of 93 million lbs. Zn, 32.5
million lbs. Pb, 3.1 million lbs. Cu, 730,000 ozs. Ag and 1,500
ozs. Au |
Mine Life |
|
- Planned mine life of 6.3 years ("LOM") |
LOM Mill Feed |
|
- Estimated Plant Feed* of 6,152,000 tonnes grading 6.11% Zn, 2.49%
Pb, 0.34% Cu, 67.9 g/t Ag and 0.86 g/t Au over LOM |
Recoveries |
|
- Average LOM recoveries of 84% for Zn, 65% for Pb, 45% for Cu,
37.5% for Ag and 10.6% for Au used in the model |
Employment and Local/Regional Benefits |
|
- Estimated to provide approx. 300 permanent fulltime positions -
Approx. $57.3 million in direct royalties and tax payments |
Table 1: Caribou Mine Project Base Case PEA Highlights |
|
* The estimated plant feed is partly based on Inferred Mineral
Resources that 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 no certainty
that the preliminary economic assessment based on these Mineral
Resources will be realized. |
"We welcome this preliminary economic assessment for our Caribou
Mine with scheduled commissioning of operations in the first half
of 2015," stated Dr. Mark Cruise, Trevali's President and CEO.
"These results model a respectable return based on this initial
base-case model and we believe that there is excellent potential
for additional optimization given that approximately 3 million
tonnes of mineralized material is presently not included in the
mine plan and the deposit remains open for expansion. Given the
project's sensitivity and leverage to zinc price, positive
consensus forecasts for increasing zinc (and lead) prices should
have a beneficial effect on the operations economics."
The re-start of the Caribou Mine Project, through the
reactivation of the 3,000 tonne-per-day Caribou Mill Complex and
the associated underground deposit, represents Trevali's initial
strategy for its Bathurst Mining Camp operations in New Brunswick.
Longer term plans, subject to ongoing technical studies, include
the potential for a second stand-alone milling facility to support
development of the Company's fully permitted Halfmile Mine and the
Stratmat Deposit where drilling and baseline permitting programs
are in progress.
STUDY DESCRIPTION:
The PEA study was conducted in accordance with the definitions
in Canadian National Instrument 43-101. SRK Consulting (Canada)
Inc. was the lead independent consultant, with contributions from
other independent consultants commissioned by Trevali - Holland
& Holland Consulting and Stantec Consulting. The PEA focuses on
the polymetallic Caribou Mine and Mill Complex located
approximately 50 kilometres west of Bathurst, New Brunswick.
Caribou is situated just off of paved Provincial Highway 180 that
connects the project to major road, rail and port infrastructure,
including the deep water ocean port and smelting complex at
Belledune approximately 80 kilometers to the northeast. Caribou is
also connected to the New Brunswick Provincial Power Grid.
The Caribou Project has been valued using a discounted cash flow
(DCF) approach. This method of valuation requires projecting yearly
cash inflows, or revenues, and subtracting yearly cash outflows
such as operating costs, capital costs, royalties, and provincial
and federal taxes. Cash flows are taken to occur at the end of each
period. The resulting net annual cash flows are discounted back to
the date of valuation, second quarter of 2014, and totaled to
determine net present values (NPVs) at the selected discount rates.
The internal rate of return (IRR) is calculated as the discount
rate that yields a zero NPV. The payback period is calculated as
the time needed to recover the initial capital spent.
The results of the economic analysis represent forward-looking
information that are subject to a number of known and unknown
risks, uncertainties and other factors that may cause actual
results to differ materially from those presented here.
Many costs within the PEA model are based on direct
supplier/contractor quotations including the following:
- Major mine mobile equipment quotations;
- Mining contractor quotations as cost base for development and
production;
- Material supply quotations;
- Building rehabilitation quotations;
- Consumables - fuel, power and explosives.
ECONOMICS:
The base case Caribou Mine Project PEA uses price assumptions of
US$1.00/lb zinc, US$1.00/lb lead, US$3.00/lb copper, US$21.00/oz
silver and US$1,200/oz gold. These prices are based on a review of
consensus price forecasts from financial institutions and similar
studies that recently have been published. The post-tax net present
value (NPV) at variable discount rates, Internal Rates of Return
(IRR) are shown in Table 2 illustrating sensitivities to variable
zinc and lead prices.
|
|
Post-Tax |
Pre-Tax |
Zinc Price (US$/lb) |
Lead Price (US$/lb) |
NPV (0%) (millions) |
NPV (5%) (millions) |
NPV (8%) (millions) |
IRR (%) |
NPV (0%) (millions) |
NPV (5%) (millions) |
NPV (8%) (millions) |
IRR (%) |
0.80 |
0.80 |
$31 |
$16 |
$9 |
13 |
$45 |
$27 |
$19 |
18 |
0.90 |
0.90 |
$96 |
$68 |
$56 |
37 |
$122 |
$89 |
$73 |
45 |
1.00 |
1.00 |
$141 |
$106 |
$89 |
57 |
$199 |
$150 |
$128 |
69 |
1.10 |
1.10 |
$180 |
$138 |
$118 |
74 |
$275 |
$212 |
$182 |
93 |
1.20 |
1.20 |
$208 |
$161 |
$139 |
89 |
$350 |
$272 |
$235 |
116 |
1.30 |
1.30 |
$246 |
$192 |
$167 |
107 |
$424 |
$331 |
$287 |
139 |
1.40 |
1.40 |
$287 |
$226 |
$197 |
126 |
$498 |
$391 |
$340 |
161 |
Table 2: Caribou Economic Summary - Zinc and Lead Price
Sensitivity |
RESOURCES:
The Caribou PEA underground mine plan models the extraction and
processing of an initial 6,152,000 tonnes of mineralized material
using a NSR Cutoff Value of $100 per tonne (Figure 1 & Table
3). This mine plan tonnage includes Measured, Indicated, and
Inferred mineral resources. The Caribou PEA is based on SRK mineral
resources as disclosed in the January 2013 NI 43-101 technical
study by SRK Consulting (Canada) Inc. (Table 4 and see Trevali news
release NR-13-01, January 17, 2013).
To view Figure 1 please click on the following link:
http://media3.marketwire.com/docs/TV0513.pdf
Cutoff |
Tonnage |
Grade |
Contained Metal (millions of oz Au-Ag - millions of lbs
Pb-Zn-Cu) in-situ |
NSR$/tonne |
Million tonnes |
Zn % |
Pb % |
Cu % |
Ag g/t |
Au g/t |
Zn |
Pb |
Cu |
Ag |
Au |
100 |
6.152 |
6.11 |
2.49 |
0.34 |
67.89 |
0.86 |
828.3 |
337.1 |
45.6 |
13.43 |
0.17 |
Table 3: Estimated Plant Feed* for the Caribou Project to the
1920mEL mine level |
|
* The estimated plant feed is partly based on Inferred Mineral
Resources that 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 no certainty
that the preliminary economic assessment based on these Mineral
Resources will be realized. |
|
Cutoff |
Class |
Tonnage |
Grade |
Contained Metal (millions of lbs Zn-Pb-Cu and millions
of oz Ag-Au) in-situ |
ZnEq* % |
Million Tonnes |
Zn % |
Pb % |
Cu % |
Ag g/t |
Au g/t |
ZnEq * % |
Zn |
Pb |
Cu |
Ag |
Au |
5 |
Measured |
5.61 |
6.91 |
2.93 |
0.46 |
84.64 |
0.84 |
10.58 |
855.36 |
362.69 |
56.94 |
15.28 |
0.15 |
Indicated |
1.62 |
7.28 |
2.94 |
0.34 |
83.68 |
1.06 |
10.83 |
259.87 |
104.95 |
12.14 |
4.36 |
0.06 |
M&I |
7.23 |
6.99 |
2.93 |
0.43 |
84.43 |
0.89 |
10.64 |
1115.23 |
467.64 |
69.08 |
19.64 |
0.21 |
Inferred |
3.66 |
6.95 |
2.81 |
0.32 |
78.31 |
1.23 |
10.47 |
560.44 |
226.60 |
25.80 |
9.21 |
0.14 |
Table 4: Mineral Resource Statement*, Caribou Project, Bathurst
New Brunswick, SRK Consulting, January 17, 2013. |
|
*ZnEq = ((Cu Grade x Cu Price x Cu Recovery)+(Pb Grade x Pb
Price x Pb Recovery)+(Zn Grade x Zn Price x Zn Recover)+(Au Grade x
Au Price x Au Recovery)+(Ag Grade x Ag Price x Ag Recovery))/Zn
Price. In calculating ZnEq, SRK Consulting (Canada) Inc. utilized
the long term metal prices provide by Energy & Metals Consensus
Forecast. Price for Au is $1470 per ounce, Ag is $26 per ounce, Cu
is $3.39 per pound, Pb is $1.18 per pound, and Zn is $1.14 per
pound. A recovery of 83% was applied to Zn, 71% was applied to Pb,
57% was applied to Cu, 45% was applied to Ag, and 40% was applied
to Au. The pounds of metal are in-situ and have not had any mining
factors applied to them. |
The total mineralized materials above $100/tonne NSR Cutoff
Value within the crown pillar and below the 1920 mEL level, the
"Future Mine Plan Area", are 532,000 tonnes at grades 6.85% Zn,
2.85% Pb, 0.37% Cu, 85.31 g/t Ag, and 1.12 g/t Au. They are not
included in the current mine plan (Figure 1). In addition, there
are 3.06 million tonnes of mineralized materials excluded from
current mining plan at grades 7.11% Zn, 2.91% Pb, 0.39% Cu, 82.88
g/t Ag, and 1.00 g/t Au. Reasons for the excluded amounts include
parallel zones where only one zone can be mined, stand-off
distances from historical mining areas, areas too narrow relative
to the current minimum mining width, and isolated areas.
Based on potential opportunity identified by SRK, Trevali is
currently assessing the requirements to potentially incorporate
some of this additional resource tonnage into the mine plan.
The Caribou Deposit mineralization remains open for expansion,
with drill intercepts encountering significant mineralized
intervals outside of the current resource shell.
MINING AND PROCESSING:
Underground operations will take advantage of the extensive
in-place historical development and infrastructure. A centralized
ramp-trucking system will serve as the main access for the mine.
The main mining method will be Modified Avoca with waste rock
backfill, with the exception of a longhole retreat mining method
for partial sill pillar recovery near the end of mine life.
The processing circuit will consist of a 3,000-tonne-per-day
Semi-Autogenous Grinding and milling circuits (including
fine-grinding IsaMills) with standard sulphide flotation recovery
circuits to produce three concentrates: zinc, lead-silver and
copper-gold. The average LOM modelled head grade for mill feed is
6.11% Zn, 2.49% Pb, 0.34% Cu, 67.9 g/t Ag and 0.86 g/t Au. LOM
metallurgical recoveries used in the PEA are 84% for Zn, 65% for
Pb, 45% for Cu, 37.5% for Ag and 10.6% for Au. No optimization of
precious metal recoveries has occurred to date but is being
evaluated.
Projected payable metal production from the planned Caribou Mine
operation is summarized in Table 5 and the annual production
schedule based on the initial base case mine plan is presented in
Table 6.
Commodity |
Average Annual Payable Production |
LOM Payable Production |
Zinc |
93,000,000 lbs |
584,500,000 lbs |
Lead |
32,500,000 lbs |
204,500,000 lbs |
Copper |
3,100,000 lbs |
19,500,000 lbs |
Silver |
730,000 ozs |
4,600,000 ozs |
Gold |
1,500 ozs |
10,000 ozs |
Table 5: Projected payable metal production |
LOM concentrate grades are expected to average 50% Zn in the
zinc concentrate, 45% Pb in the lead concentrate, and 20% Cu in the
copper concentrate. The precious metals report to both the Pb and
Cu concentrates which maximizes payability. Future metallurgical
test work will seek to enhance recoveries.
|
|
Unit |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
Total |
Tonnes per Day |
|
t/d |
2,333 |
2,724 |
3,000 |
2,987 |
3,000 |
2,586 |
225 |
|
Total Production |
|
kt |
852 |
994 |
1,095 |
1,090 |
1,095 |
944 |
82 |
6,152 |
Zn Grade |
|
% |
5.82% |
6.27% |
6.13% |
5.98% |
6.44% |
5.97% |
5.55% |
6.11% |
Pb Grade |
|
% |
2.49% |
2.63% |
2.52% |
2.45% |
2.64% |
2.20% |
1.97% |
2.49% |
Cu Grade |
|
% |
0.33% |
0.33% |
0.34% |
0.40% |
0.30% |
0.32% |
0.29% |
0.34% |
Ag Grade |
|
g/t |
68.74 |
73.71 |
67.58 |
70.78 |
71.31 |
56.13 |
43.66 |
67.89 |
Au Grade |
|
g/t |
0.59 |
0.70 |
0.85 |
0.84 |
0.84 |
1.28 |
1.26 |
0.86 |
Contained Zn |
|
000 lbs |
109,241 |
137,552 |
147,977 |
143,704 |
155,571 |
124,270 |
10,030 |
828,345 |
Contained Pb |
|
000 lbs |
46,768 |
57,639 |
60,718 |
58,993 |
63,648 |
45,776 |
3,554 |
337,096 |
Contained Cu |
|
000 lbs |
6,225 |
7,219 |
8,324 |
9,563 |
7,225 |
6,571 |
516 |
45,643 |
Contained Ag |
|
000 oz |
1,882 |
2,356 |
2,379 |
2,482 |
2,511 |
1,703 |
115 |
13,428 |
Contained Au |
|
000 oz |
16 |
22 |
30 |
29 |
30 |
39 |
3 |
170 |
Table 6: Production Schedule based on the Initial Base Case
6.3-year LOM Plan |
CAPEX AND OPEX:
Projected capital and operating costs in the PEA over the
planned 6.3-year mine life are summarized in Tables 7 and 8:
Items |
LOM Capital (Million $) |
Initial Capital (Million $) |
Sustaining Capital (Million $) |
UG Mine Mobile Equipment |
21.5 |
0.0 |
21.5 |
UG Mine Infrastructure |
23.0 |
9.0 |
14.0 |
UG Contingency (Mobile & Infrastructure) |
6.0 |
0.0 |
6.0 |
UG Mine Mobile & Infrastructure Subtotal |
50.5 |
9.0 |
41.6 |
Underground Mine Development |
26.5 |
6.2 |
20.3 |
Mine Energy |
1.1 |
0.1 |
1.0 |
Mine Total |
78.2 |
15.3 |
62.9 |
Tailings & Other Ponds |
23.4 |
1.1 |
22.3 |
Grinding |
3.5 |
3.4 |
0.1 |
Flotation, incl. Adding Cu Circuit |
5.4 |
5.4 |
0.0 |
Dewatering Zn/Pb/Cu |
1.6 |
1.6 |
0.0 |
Concentrate Storage & Handling |
2.7 |
1.2 |
1.6 |
Reagent Mixing |
0.8 |
0.8 |
0.0 |
Services |
1.3 |
0.8 |
0.5 |
Misc. Equipment |
1.2 |
1.2 |
0.0 |
Milling and Tailing Total |
39.9 |
15.5 |
24.4 |
Environmental |
1.6 |
1.2 |
0.3 |
Project General & Administration |
5.4 |
4.2 |
1.2 |
Project Grand total |
125.1 |
36.3 |
88.8 |
Table 7: Estimated LOM Caribou Project Capital Costs |
|
Items |
Unit |
Values |
Mining |
$/t-Milled |
37.06 |
Milling |
$/t-Milled |
30.14 |
G&A |
$/t-Milled |
5.99 |
Environmental |
$/t-Milled |
1.59 |
Total Site Operating Cost |
$/t-Milled |
74.77 |
Table 8: Estimated LOM Caribou Operating Costs |
A direct LOM Cash Cost (C1) of US$0.46/lb of ZnEq* is modeled in
the PEA.
*ZnEq payable pounds produced = ((Zn Payable lbs Produced x Zn
Price)+(Pb Payable lbs Produced x Pb Price)+(Cu Payable lbs
Produced x Cu Price)+ (Au oz Payable Produced x Au Price)+(Ag oz
Payable Produced x Ag Price))/Zn Price.
Key assumptions used in the economic analysis within the PEA are
summarized in Table 9.
Item |
Metal Price |
Mill Recovery |
Payable |
Off-site Costs |
Unit |
In USD |
In CAD |
Zn |
$/lb |
1.00 |
1.05 |
84.0% |
85% |
TC/RC, Deductibles Vary with Smelter Location, Smelter
Terms and Conditions |
Pb |
$/lb |
1.00 |
1.05 |
65.0% |
95% |
Cu |
$/lb |
3.00 |
3.16 |
45.0% |
95% |
Ag |
$/oz |
21.00 |
22.11 |
37.5% |
95% |
Au |
$/oz |
1200.00 |
1263.16 |
10.6% |
95% |
Base Case Discount Rate |
|
|
5% |
|
|
Exchange Rate (US$/C$) |
|
|
0.95 |
|
|
Schedule 1 - NB 2% Royalty |
|
|
2% |
|
|
Schedule 2 - NB 16% Royalty |
|
|
16% |
|
|
10% NPI - Fern Trust based on Taxable Profit |
10% |
|
|
Provincial Income Tax |
|
|
12% |
|
|
Federal Income Tax |
|
|
15% |
|
|
Table 9: Key Assumptions Used in Economic Analysis |
PEA CONTRIBUTORS:
Company |
|
Responsibilities |
SRK Consulting (Canada) Inc. in collaboration with Trevali |
|
Underground mine modeling, General & Administration (G&A)
costing and project economics |
Stantec Consulting |
|
Environmental and permitting |
Len Holland, Holland & Holland Consulting |
|
Metallurgical and processing |
PROJECT RISKS:
There are two major risks identified that could adversely affect
the project economics:
- Mine rehabilitation and drift slashing (for increased size).
The mine is only about 40% dewatered at the time of mine planning.
There are uncertainties related to the time required for full
dewatering, and uncertainties regarding the total quantity and
scheduling of the rehabilitation/slashing work that will ultimately
be required. An increased quantity of rehabilitation/slashing work
and/or schedule delays could adversely affect the PEA economic
results;
- External dilution. There is a risk of increased external
dilution beyond the planned amount. This would reduce the mill head
grade and impact on revenue.
OPTIMIZATION AND POTENTIAL FOR ENHANCED ECONOMICS:
Opportunities for optimizations and potential enhanced economics
have been identified within the preliminary economic assessment
including:
- Potential to maximize sill pillar recovery by replacing waste
backfill with paste backfill. The current mine plan models an
overall low sill pillar recovery of 27.2% due to the unconsolidated
waste rock backfill planned for placement immediately above the
sill levels. The potential advantages of using paste backfill
include:
- Increase sill pillar recovery to nearly 100% which could bring
up to 1.5 million tonnes of plant feed into the mine plan at grades
of 6.00% Zn, 2.59% Pb, 0.29% Cu, 71.75 g/t Ag, and 0.75 g/t Au,
thereby extending the mine life with minimal additional development
required;
- Increase stope productivity and shortened stope cycle time,
thus increasing stope stability and improving external dilution
control;
- Reduced backfill operating cost;
- Reduced ventilation requirements;
- Reduced requirement for life of mine tailings pond capacity,
and potentially savings in environmental expenditures.
trade-off analysis is recommended to weight these potential
advantages against the expected increase in capital costs for
installing a paste backfill system.
- There is potential to bring more mineralized materials into the
mine plan in the PEA planned mining areas. There are 3.06 million
tonnes in situ mineralized materials above $100/tonne NSR Cutoff
Grade excluded from the PEA mining shapes in the planned mining
area with an average grade of 7.11% Zn, 2.91% Pb, 0.39% Cu, 85.31
g/t Ag, and 1.12 g/t Au. Reasons for the excluded amounts include
parallel zones of mineralization where only one zone can be mined,
stand-off distances from historical mining areas, areas too narrow
relative to the current minimum mining width, and isolated areas.
Further design optimization could potentially bring some of these
mineralized materials into the mine plan.
- Further stope design optimization will lead to reduced internal
dilution and increased plant feed head grades. Overall internal
dilution in the planned stopes is currently approximately 20%. In
SRK's opinion, it should be possible to reduce internal dilution to
less than 15% and increase plant feed head grades by roughly
4.3%.
- Definition drilling should convert some of the existing
Inferred mineral resources to Indicated or Measured category.
- Significant potential for resource expansion at depth given
drill-grade intervals outside of current resource block and below
the PEA modeled mine plan in the "Future Mine Plan Area" (see
Figure 1).
- Potential for increased metallurgical recoveries, specifically
optimization of the lead, copper and precious metals recovery.
The full PEA technical report will be filed on SEDAR at
www.sedar.com and on the Trevali Mining website at www.trevali.com
within 45 days of the issuance of this news release.
The PEA is considered preliminary in nature and includes
economic analysis that is based, in part, on inferred mineral
resources. Inferred mineral resources are considered too
speculative geologically to have the economic considerations
applied to them that would allow them to be categorized as mineral
reserves, and there is no certainty that the results will be
realized. Mineral resources are not mineral reserves because they
do not have demonstrated economic viability.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO, and
Paul Keller, P.Eng, Trevali's COO, are qualified persons as defined
by NI 43-101, have supervised the preparation of the scientific and
technical information that forms the basis for this news release.
Dr. Cruise is not independent of the Company as he is an officer,
director and shareholder. Mr. Keller is not independent of the
Company as he is an officer and shareholder. The lead parties
responsible for the PEA, SRK, Holland and Holland, and Stantec, are
independent of the Company.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals mining company with
operations in Peru and Canada.
In Peru, the Company is actively operating its wholly-owned
Santander underground zinc-lead-silver mine and 2,000-tonne-per-day
metallurgical plant, and producing zinc and lead-silver
concentrates.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine
and Stratmat polymetallic deposit all located in the Bathurst
Mining Camp of northern New Brunswick. Initial trial production
from the Halfmile underground mine was successfully undertaken in
2012 and the Company anticipates commencing operations at its
3,000-tonne-per-day Caribou Mill Complex in 2015.
All of the Company's deposits remain open for expansion.
The common shares of Trevali are listed on the TSX (symbol TV),
the OTCQX (symbol TREVF) and on the Lima Stock Exchange (symbol
TV). 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 Caribou-Halfmile-Stratmat 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.
We advise US investors that while the terms "measured
resources", "indicated resources" and "inferred 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.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities described herein have not been and will not
be registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state and may not be offered
or sold within the United States, absent such registration or an
applicable exemption from such registration requirements.
The TSX has not approved or disapproved of the contents of this
news release.
Trevali Mining CorporationSteve Stakiw, Vice President,Investor
Relations and Corporate Communications(604) 488-1661 / Direct:
(604) 638-5623sstakiw@trevali.comwww.trevali.com
Trevali Resources (QX) (USOTC:TREVF)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Trevali Resources (QX) (USOTC:TREVF)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024