Trevali Mining Corp.

Trevali Mining Corp. is a zinc-focused base metals development company. In Canada, it owns the Halfmile zinc-lead-silver mine, the Caribou mine and mill, and the Stratmat polymetallic deposit, all located in the Bathurst Mining Camp of northern New Brunswick. The company also has the Santander mine in Peru and 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 Kmtpd to feed planned operations at the company's Caribou Mill Complex in 2013.

Expert Comments:

Ian Parkinson, GMP Securities (1/22/15)
"Yesterday after market close, Trevali Mining Corp. released Q4/14 production results that overall beat our expectations due to higher-than-design mill throughput. . .of note is full year production exceeded the company's increased 2014 guidance. . .Trevali continues to gain operational and production momentum at the Santander mine."

Mark Turner, Scotia Capital (1/22/15)
"Trevali Mining Corp. announced Q4/14 production from its wholly-owned Santander operation in Peru, as well as 2015 production and cost guidance. Q4/14 production of 21.5 Mlb payable zinc equivalent was essentially in line with our estimate of 22.3 Mlb. . .the mill operated above the 2,000-tpd design capacity while also achieving above-design recovery rates for zinc (88%), lead (88%) and silver (80%). . .production guidance for 2015 of 48–50 Mlb payable zinc, 23–25 Mlb payable lead, and 850–950 Koz payable silver is in-line with our prior estimates."

Stefan Ioannou, Haywood Securities (1/22/15)
"Production continues to progress well at Trevali Mining Corp.'s 100%-owned Santander zinc-lead-silver mine in Peru. . .2014 production headlined by 50 Mlb zinc and 23 Mlb lead (payable) is in-line with the upper end of the company's guidance (47–50 Mlb zinc and 20–23 Mlb lead) and our modeled expectations (50 Mlb zinc and 22 Mlb lead). . .timely execution at Santander and Bathurst will be key to maintaining market confidence. . .that said, with zinc production from two mines expected to ramp up to approximately 190 Mlb per annum by 2017, we believe Trevali is poised to become a (the) marquee mid-tier zinc producer."

Derek Macpherson, M Partners (1/22/15)
"Trevali Mining Corp. reported Q4/14 production results, which were well ahead of our estimates. The delta to our estimates was due in large part to modestly higher-than-expected throughput and better-than-expected recoveries during the quarter, which suggests that Santander is approaching steady state. . .we are maintaining our Buy rating."

Joseph Gallucci, Dundee Capital Markets (1/22/15)
"Trevali Mining Corp. had great production performance in 2014; 2015 looks promising. . .the production performance at Santander in 2014 is one of the best startup years we have seen. Trevali effectively beat guidance, which had previously been revised upwards. Recoveries and mill performance remain strong and leave us with no doubt that Santander has been ramped up well with the mill operating at steady state."

Alex Terentiew, Raymond James (1/21/15)
"Trevali Mining Corp. met our expectations with its Q4/14 operating results and 2015 guidance, finishing the year with a record milling quarter at Santander; Caribou was excluded from the guidance for now, however, by all accounts, it remains on track for commissioning in Q2/15E. We reiterate our Outperform rating on the company, and it remains one of our Top Picks."

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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.
catalyst Calendar
Q1
2015
Commence mining at Caribou Mine
Q2
2015
Concentrate production at Caribou Mine
Q3
2015
Ramp up Caribou Mine production
Trevali Mining Corp. Content