Business
Trevali reports 2016 annual financial results
Trevali reports 2016 annual financial results.
About this update from Trevali Mining Corp.
[{"type":"text","content":"\n \n \n Trevali reports 2016 annual financial results\n \n \nTrevali reports 2016 annual financial results\n\nRecord EBITDA(1) of $55.4 million on concentrate sales of $198.2 million; $12.2-million net income or EPS of $0.03\n\n \n VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 9, 2017) - Trevali Mining Corporation (\"Trevali\" or the \"Company\") (TSX:TV)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) has released financial results for the year ended December 31, 2016 and has posted $12.2-million in net income, or 3 cents per share. Concentrate sales revenues for 2016 was a record $198.2 million and EBITDA(1) for the year increased to a new high of $55.4 million.\n This release should be read in conjunction with Trevali's audited annual consolidated financial statements and management's discussion and analysis for the year ended December 31, 2016, which is available on Trevali's website and on SEDAR. All financial figures are in Canadian dollars unless otherwise stated.\n 2016 Annual Results Highlights:\n \n \n Record concentrate sales revenue of $198.2 million, up 86% from 2015\n Record EBITDA(1) of $55.4 million, up 364% over the prior year\n Net income of $12.2 million or $0.03 per share\n Income from mine operations of $37.6 million\n Record Santander zinc production at the lowest annual cost of US$34.17/tonne milled, below the annual cost guidance of $US35-38 per tonne milled\n Caribou post-commercial production cash site operating cost was US$56.39 per tonne milled against a post-commercial annual cost guidance of US$64-68 per tonne milled\n 2016 consolidated site cash costs of US$0.37 per pound of payable Zinc Equivalent (\"ZnEq\")(2) produced or US$41.64/tonne milled\n Record annual production of 98-million payable pounds of zinc, 33-million payable pounds of lead and 1.2 million payable ounces of silver, reflecting the successful commencement of commercial production at the Caribou Zinc Mine in mid-2016\n Provisional realized commodity selling prices for 2016 production was US$1.03 per pound zinc, US$0.89 per pound lead and US$17.45 per ounce silver\n Debt-to-equity ratio of 0.3 and debt-to-EBITDA ratio of 1.94 (2015 was approximately 9.6) \n \n \n Q4-2016 Highlights:\n \n \n Quarterly consolidated production of 36.8-million payable pounds of zinc, 11.3-million payable pounds of lead and 0.41-million payable ounces of silver\n ...