Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) announces
that $30-million of funding associated with its previously
announced (see September 26, 2012 news release TV-NR-12-27)
$60-million senior debt and prepaid precious metals facility
("Facility") has received In-Principle approval by RMB Resources
("RMB"), the resource financing division of the FirstRand Group of
South Africa. The debt facility will be used to repay current debt,
fund development towards stand-alone mine and mill operations in
the Bathurst Camp of New Brunswick, and for general corporate
working capital purposes. The funding is now subject to completion
of final documentation, which is in progress, and final approval by
RMB's Investment Committee.
This mezzanine tranche of the RMB facility is repayable on the
earlier of June 30, 2014, or closing of the final $60-million
senior debt facility. The facility bears interest of LIBOR + 8.5%
per annum and has an arrangement fee of 5% and 3,000,000 warrants
to purchase Trevali common shares on the TSX, issued on the closing
date of the facility and exercisable at any time through June 30,
2015 at an exercise price of $1.25 per share, subject to TSX
approval.
It is expected that the remaining portion of the $60-million
senior debt and prepaid precious metals facility will be approved
once ongoing technical studies relating to the commencement of
production at the Caribou Project in New Brunswick are completed in
April 2013.
"We are very pleased with the approval of the initial
$30-million funding by RMB as we continue to focus on advancing our
mill and mine development operations in New Brunswick towards
production, and securing the final $60 million in senior debt and
prepaid silver facilities as previously announced," stated Dr. Mark
Cruise, Trevali's President and CEO. "In addition to the imminent
commissioning of our Santander Mine in Peru, Trevali aims to
maximize its zinc production profile with planned output from
Bathurst Mining Camp operations, and looks to benefit from the
robust outlook for the commodity in light of the many forecast
closures of major zinc producers globally."
ABOUT RMB RESOURCES
RMB Resources is the resource financing division of the
FirstRand Group, which is listed on the Johannesburg Stock Exchange
(FSR:SJ) and is one of South Africa's largest financial
institutions. RMB specializes in providing equity- and
debt-financing solutions for small to mid-tier resource companies
globally. RMB Resources provides debt funding through conventional
project financing, commodity pre-paid forward financing as well as
senior, subordinated, standby and bridge financing. Staffed with
experienced mining executives, RMB Resources operates from its
offices in Sydney, Melbourne, London, Denver and New York.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals development company with
active operations in Canada and Peru.
In Peru, the Company is nearing production at its Santander
zinc-lead-silver mine where commissioning is scheduled to commence
in Q1-2013 with subsequent ramp up to planned 2,000-tonnes-per-day
production.
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 late-2013.
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). Warrants to purchase common shares of Trevali are listed on
the TSX (symbol TV.WT). 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.
The TSX has not approved or disapproved of the contents of this
news release.
Contacts: Trevali Mining Corporation Steve Stakiw VP, Investor
Relations and Corporate Communications (604) 488-1661 / Direct:
(604) 638-5623 (604) 408-7499 (FAX)sstakiw@trevali.com
www.trevali.com
Grafico Azioni Trevali Mining (TSX:TV.WT)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Trevali Mining (TSX:TV.WT)
Storico
Da Mag 2023 a Mag 2024