Trevali increases net loss by 594% in 2020, production drops
(Kitco News) - Trevali Mining (TSX: TV) (BVL: TV) (OTCQX: TREVF) today reported that its payable zinc production in 2020 was 313 million pounds, a 25% decrease over 2019 (417.4 million pounds); lead production was 29.9 million pounds, a 41% decline over 2019 (50.3 million pounds); silver output dropped 47%, from 1.5 million ounces in 2019 to 0.8 million ounces in 2020.
Trevali posted a net loss of US$245.6 million for 2020, which is 594% more than a net loss of US$35.4 recorded in 2019. The company said that its net debt of $105.0 million as at December 31, 2020, reduced to $95.0 million as at January 31, 2021, as a result of the collection of receivables largely related to sales late in Q4 2020.
Trevali is a global base-metals mining company, headquartered in Vancouver, Canada. The bulk of the company's revenue is generated from base-metals mining at its three operational assets: the 90%-owned Perkoa mine in Burkina Faso, the 90%-owned Rosh Pinah mine in Namibia, and the wholly-owned Santander mine in Peru. In addition, Trevali owns the Caribou mine, Halfmile and Stratmat properties and the Restigouche deposit in New Brunswick, Canada, and the past producing Ruttan mine in northern Manitoba, Canada.