PI Financial Corp Updates Coverage on Trevali Mining (TSX:TV) (OTCQX:TREVF) Reiterating Speculative Buy Recommendation - Video Research Alert Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, August 21, 2013 - PI Financial Corp. has updated
coverage on Trevali Mining (TSX:TV) (OTCQX:TREVF). Following the announcement
that the company had commenced zinc and lead-silver concentrate production at
its Santander Mine in Peru, analyst Aleem Ladak reiterated his speculative buy
rating, and a 12-month target of $2.05, a premium of 166% to the $0.77 price the
day the report was issued.
InvestmentPitch.com has produced a "video research alert" based on this report.
If this link is not enabled, please visit www.InvestmentPitch.com and enter
"Trevali" in the search box.
Trevali is a zinc-focused base metals mining company with operations in Canada
and Peru. 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.
In Peru, the Crushing, Transfer, Grinding, Floatation and Tailings circuits are
all operational and undergoing commissioning and optimization. As part of the
commissioning process the mill is currently processing stock-piled mineralized
feed during day-shift and fine tuning the plant and optimizing the reagent
schemes and run criteria following each run during the subsequent night-shift as
required.
Production at Santander had been delayed since the first quarter of this year
due to challenging climatic conditions, delays in receiving key electrical
safety cells for the mill substation and an overall slower-than-expected
construction period. The silver lining to the delayed start of production is
that the price for zinc has been strengthening since the spring and is up by
10% to about US$0.88 at present on the London Metals Exchange.
"Commencing metal concentrate production from our Santander Mine is a major
achievement for Trevali. We now aim to ramp-up operations to the planned 2,000-
tonne-per-day throughput," stated Dr. Mark Cruise, Trevali's President and CEO.
"This milestone is a testament to the hard work and dedication of the Trevali -
Glencore construction teams as well as our contract partners that continue to
play a vital role in our success."
Now that the construction is over, P. I. Financial believes a ramp up to full
production can begin and that positive cash flows are expected by the end of the
year.
Analyst Aleem Ladak stated, "Our 2013 and 2014 earnings per share estimates
remain at $0.02 a share and $0.34 a share, respectively; the increase in
earnings in 2014 will be driven by output starting at the caribou Mill."
The company currently trades at $0.70 well below the $2.05 target price, and
with 221 million shares outstanding, the company is capitalized at $155 million.
For more information, please visit the company's website www.trevali.com or
contact Steve Stakiw, VP Investor Relations & Corporate Communications at
604-638-5623 or email sstakiw(at)trevali.com.
For more information about PI Financial or to obtain a copy of their research
report, contact your nearest PI Financial office. Their branches are listed on
their website at www.pifinancialcorp.com.
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing three minute videos based on news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 21.08.2013 - 20:17 Uhr
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News-ID 289942
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