Trevali Mining Corp.

Trevali is a zinc-focused, base metals mining company with two commercially producing operations. The Company is actively producing zinc and lead-silver concentrates from its 2,000-tonne-per-day Santander mine in Peru and its 3,000-tonne-per-day Caribou mine in the Bathurst Mining Camp of northern New Brunswick. Trevali also owns the Halfmile and Stratmat base metal deposits, located in New Brunswick, that are currently undergoing a Preliminary Economic Assessment reviewing their potential development.

Expert Comments:

Stefan Ioannou, Haywood Securities (8/15/16)
"With commercial production now established at two mines, we anticipate stronger Q3/16-to-date zinc pricing stands to drive Trevali Mining Corp.'s share price higher, prompting an increased target price of $1.25 per share (from $1.00). Our new target is based on a revised premium 5.0x multiple. . .this is a multiple we believe prudent given the company is poised to become a (the) marquee mid-tier 'pure-play' zinc producer in a market facing a significant medium-term supply issue."

Jeff Woolley, Paradigm Capital (8/15/16)
"Trevali Mining Corp. reported Q2/16 financial results which broadly met expectations. Production updates had been pre-announced for both mines, and the Santander mine continues to operate at above-design levels while the Caribou mine was still ramping up in Q2 but was declared commercial to commence in Q3. . .Both of Trevali's operations are performing well, with guidance increased at the Santander mine twice so far this year, and the Caribou mine achieving commercial production as of July 1. . .We maintain our Buy recommendation."

Ian Parkinson, GMP Securities (8/12/16)
"Trevali Mining Corp. released Q2/16 financial results last night. Zinc production of 15.2mm lbs, which was a new quarterly record, and lead production of 5.6mm lbs were pre-released. . .Site cash cost was $35.64/tonne milled, better than our forecast of $42/tonne milled (zinc equiv. cash cost was $0.32/lb). . .The zinc price has been on the path of recovery for the past few months; TV stands to benefit from the higher zinc price, especially as zinc production from the new Caribou mine starts contributing to the company's cash flow."

Orest Wowkodaw, Scotia Capital (8/12/16)
"Trevali Mining Corp. reported in-line Q2/16 financial results. . .We rate the company Sector Outperform based on its attractive relative valuation, growing exposure to zinc (our preferred near-term commodity), and diminishing operating/development risk profile with the ramp-up of Caribou. Our 12-month target of C$1.20/share is based on a 50/50 mix of 5.0x our average 2017E/18E EBITDA and 1.0x our NAV(8%) estimate. Trevali has the highest leverage to rising zinc prices within our coverage universe. . .we anticipate the company's cash position to build through 2H/16."

Joseph Gallucci, Dundee Capital Markets (8/12/16)
"We believe Trevali Mining Corp.'s balance sheet puts it in a good position to capture strong zinc markets in the back half of 2016 and into 2017. . .optimization work continues at Caribou, with the technical team continuing to work on increasing zinc recoveries. Caribou revenues will begin flowing through TV's financial statements in Q3. . .with Caribou now online, we believe TV is in excellent position to capture strong zinc fundamentals that have begun to take hold in the market."

Gwen Preston, Resource Maven (7/20/16)
"Trevali Mining Corp. reached commercial production at its second mine, the Caribou mine in New Brunswick, two weeks ago. . .Trevali's other mine, the Santander operation in Peru, managed record mill throughput and zinc output in the second quarter. . .things are going well enough that Trevali has increased its Santander zinc production guidance to 57–60 Mlb zinc, up from 52–55 Mlb. . .Trevali is the only primary zinc producer on the TSX, which makes it a clear go-to stock for those seeking zinc exposure."

Paradigm Capital's top picks for Q3/16 include gold and zinc mining companies with upcoming catalysts worthy of investors' attention.
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Announcements of increased production at Trevali Mining Corp.'s Santander mine and the start of commercial production at Caribou mine, coupled with zinc inventories that remain at multiyear lows, have helped solidify the company's growth story.
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More Expert Comments

Experts Following This Company

Joseph Gallucci, Senior Mining Research Analyst – Dundee Capital Markets
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Stefan Ioannou, Mining Analyst – Haywood Securities
Derek Macpherson, Analyst
David Morgan, Publisher – Silver Investor
Ian Parkinson, Director of Equity Research, Mining – GMP Securities
Gwen Preston, Founder Resource Maven
Philip Richards, Fund Manager – RAB Capital Limited
Trish Saywell The Northern Miner
Alex Terentiew, Mining Analyst – Raymond James
Mark Turner, Analyst – Scotia Capital
Pierre Vaillancourt, Analyst – Laurentian Bank Securities
Jeff Woolley – Paradigm Capital
Orest Wowkodaw, Research Analyst, Metals and Mining – Canaccord Genuity

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
One producing zinc-lead-silver mine in Peru and a second mine in Canada coming online in 2015.
All of the mine resources remain open with significant new discoveries.
The only primary zinc producer on the TSX, poised to benefit from forecast zinc shortages.