TV:TSX; TV:BVL; TREVF:OTCQX

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.
TV:TSX TV:BVL TREVF:OTCQX

Expert Comments:

Joseph Gallucci, Dundee Capital Partners (12/5/16)
"With Caribou now online and cash flow positive, we believe Trevali Mining Corp. is in excellent position to capture strong zinc fundamentals; our view is that a majority of zinc development plays will not be in production to catch the cycle, either due to permitting or funding obstacles (or both). Our Top Pick view on TV's zinc leverage is based on current production as well as short term organic growth; this positions TV far above peers for zinc exposure in the current cycle."

Pierre Vaillancourt, Laurentian Bank Securities (11/22/16)
"Trevali Mining Corp. reported Q3/16 EPS of $0.01 and CFPS of $0.08, ahead of consensus estimates of $0.01 for EPS and $0.04 for CFPS. . .cash flow doubled with the addition of Caribou; as a result of the contribution from the first quarter of commercial production at the Caribou mine, most financial metrics nearly doubled QoQ, including revenues ($57.5m v. $28.9m in Q2/16), cash flow from operations ($32.3m v. $16.4m in Q2/16), and EBITDA ($14.8m v. $8.2m in Q2/16)"

Stefan Ioannou, Haywood Securities (11/17/16)
"The low-cost Caribou ramp-up complements record Santander performance. . .acknowledging that Trevali Mining Corp.'s base metals-producing peers currently trade at +5.0x CFPS, we would argue the company’s relatively unique pure-play zinc production profile stands to garner a premium valuation in the context of improving medium-term (+Q4/16) zinc pricing/sentiment. . .during Q3/16, the mine booked a second consecutive quarter of record zinc production. . .Caribou is well on its way to establishing itself as a profitable mine through Q4/16."

Jeff Woolley, Paradigm Capital (11/16/16)
"With Trevali Mining Corp.'s Santander mine generating positive cash flow and its second mine, Caribou, now commercial, the growth story is coming together for Trevali. Caribou more than doubles Trevali's production profile and the successful start-up materially derisks the company. . .the company reported materially higher revenue, earnings and cash flow in Q3. . .Caribou exceeded our operating cost expectations in Q3, and with the mill throughput rates approaching design levels thus far in Q4, we forecast a very strong (both operational and financial) Q4. . .we are modestly increasing our target price to $1.35 (was $1.25)."

Joseph Gallucci, Dundee Capital Markets (11/15/16)
"Trevali Mining Corp. announced Q3/16 earnings yesterday after market close; we calculate EBITDA of $15.3M, slightly ahead of our estimate of $14.6M and the street at $13.4M. . .TV ended Q3 with working capital of $4.6M, including total cash (cash + restricted) of $16.9M, up 17% QoQ. . .Q3 was a transformational quarter for TV, as it marked the first quarter of commercial production at Caribou. . .with a great first quarter under its belt and the zinc market continuing to strengthen, we believe TV could not have brought a new operation online at a better time."

Pierre Vaillancourt, Laurentian Bank Securities (11/15/16)
"Trevali Mining Corp's Caribou mine boosted overall zinc production to 32.4m lbs (15.2m lbs in Q2/16 ). . . However, consolidated cash cost also increased to US$46.73/t (US$35.64/t in Q2/16) as Santander costs of $36.33/t were complemented by costs of US$58.88/t at Caribou. Zinc production at Santander improved by 9% QoQ . . We maintain our Buy rating. We are encouraged by the first quarter of commercial production at Caribou, supported by ongoing strong performance at Santander."

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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Trevali Mining's drill program at Santander in Peru continues to add resources to the project, leading to a potential doubling of the mine's zinc output and further benefiting from a rising zinc price.
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More Expert Comments

Experts Following This Company

David Davidson – Paradigm Capital
Joseph Gallucci, Senior Mining Research Analyst – Dundee Capital Markets
Stefan Ioannou, Mining Analyst – Haywood Securities
Ian Parkinson, Director of Equity Research, Mining – GMP Securities
Gwen Preston, Founder Resource Maven
Trish Saywell The Northern Miner
Alex Terentiew, Mining Analyst – Raymond James
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.