- Trevali Mining Corporation (TV) releases positive results for the three and twelve months ended December 31, 2021
- It reported annual production of 316.2 million pounds of zinc at an all-in sustaining cost (AISC) of US$1.05 per pound
- 2021 revenues increased by 61 per cent to US$343.7 million
- Trevali also reports adjusted EBITDA of US$102.3 million for 2021
- It experienced a net debt reduction of US$27.0 million during the year
- The Santander sale was finalized for a non-cash US$19.2 million gain on disposal
- Trevali Mining Corporation (TV) is down 0.79 per cent trading at $1.26 per share as of 3:13 p.m. EST
Trevali Mining Corporation (TV) has reported positive financial results for the three and twelve months ended December 31, 2021.
The company reported annual production of 316.2 million pounds of zinc at an all-in sustaining cost (AISC) of US$1.05 per pound. This follows a downward adjustment of 6.2 million pounds at Perkoa.
2021 revenues increased by 61 per cent to US$343.7 million compared to 2020 due to a 32 per cent strengthening of the average annual zinc price, and a 47 per cent decrease in treatment charges.
Trevali reduced significant incidents by 30 per cent during 2021 compared to 2020.
It saw a cash cost of US$0.91 per pound of zinc and AISC of US$1.05 per pound, flat relative to the prior year. AISC was above revised guidance of US$0.89 to US$0.97 per pound.
Trevali also reports an adjusted EBITDA of US$102.3 million, US$25.2 million of which in Q4 2021, representing a 23 per cent and 25 per cent increase over the prior quarter and Q4 2020.
Operating cash flows before changes in working capital were US$90.8 million for 2021due to strengthened zinc, lead and silver prices and reduced zinc treatment charge rate.
Trevali experienced a net debt reduction of US$27.0 million during the year to US$78.0 million, with US$4 million of it being reduced during Q4 2021.
It also successfully restarted operations at the Caribou Mine in March 2021 with a 21-month fixed-pricing arrangement at US$1.25 per pound for 115 million payable pounds of zinc.
The Santander sale was finalized on December 3, 2021, with a 10:1 share consolidation. The sale resulted in a non-cash US$19.2 million gain on disposal.
Trevali Mining Corporation (TV) is down 0.79 per cent trading at $1.26 per share as of 3:13 p.m. EST.