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Trevali Reports Second Quarter Results Record Quarterly Zinc Production
Trevali Reports Second Quarter Results Record Quarterly Zinc Production.
About this update from Trevali Mining Corp.
[{"type":"text","content":"\nVANCOUVER, British Columbia, July 31, 2019 (GLOBE NEWSWIRE) -- Trevali Mining Corporation (“Trevali” or “we”, “our”) (TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) today released financial and operating results for the three and six months ended June 30, 2019. A strong focus on operating efficiency delivered record quarterly zinc production of 105.2 million pounds and cash cost reductions over the prior quarter, firmly positioning Trevali to meet, or potentially exceed 2019 operating targets. All financial figures are in U.S. dollars.\n\n \n \n \n \n \n \n \n \n \n \n \n Adjusted EBITDA(1) reconciliation Q2’19 vs Q1’19\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Perkoa Mineralised lenses at the 500RL level showing FT lens (blue) HW (green) and new T3 horizon (purple) based on drill holes and geochemistry\n \n \n \n \n \n \n \n \n\n Second Quarter Highlights:(Compared to second quarter 2019, unless otherwise noted) Excellent safety performance with a 67% reduction in Total Recordable Injury Frequency in the first half of 2019 compared to prior year.Published our inaugural Sustainability Report on June 24, 2019, reflecting our commitment to transparency. We received a leading Environment, Social and Governance quality score rating from Institutional Shareholders Services.Record quarterly zinc production of 105.2 million payable pounds. Annual production trending to the high-end of 2019 guidance, with opportunities to exceed.Operating efficiencies delivered meaningful cost improvements. Costs outperformed expectations with 9% quarterly reduction of C1 Cash Cost1, offsetting increases in smelting & refining charges. Maintaining 2019 C1 Cash Cost1 and AISC1 guidance, trending towards the middle of previously guided ranges.Rosh Pinah 2.0 internal study completed and advancing to next phase; indicating potential for strong IRR and up to 50% increase in output.Net debt1 reduced by $26.9 million during the quarter. Continue to maintain a strong balance sheet with net debt reduced to $34.8 million at June 30, 2019.Zinc Spot Price Adjusted EBITDA1 of $7.0 million (Adjusted EBITDA1 is ($0.3) million) during the second quarter impacted by lower sales volumes of 93.2 million pounds of zinc payable and build-up of 5.3 million pounds of inventory; June 30, 2019 zinc monthly average spot...