RE:Long term bag holder here but still have hope in my soulmikeylikes wrote
Been an investor in this stock since they had one mine in Peru back in 2016 (Mark cruise ceo at that time) after purchase of 2 mines from glencore for 260 million company was valued at 1.1 billion (first dilution as glencore deal was stock and cash)
zinc had been in the toilet but rising from 0.80/lb to 1.60/lb by Jan 2018 (i bought more shares at 1.48 = 14.80 in todays price
From there Cruise would paint a rosy picture of the company while losing 90% of its value for investors over a 2 year period before leaving. Enter the new messiah Ricus leaving mining giant Vale for mysterious reasons in 2019 to take over who has proceeded to dilute the remaining company another 30% by offering insiders stock at 18.5 cents (1.85 today) and losing another 60% of the remaining value of trevali while making more excuses for poor performance every quarter (last conference call banks did not bother to call in)
Today, santander is gone, caribou is break even or a loss for the next year as hedged at 1.25 zinc, perkoa has unknown life / resources left (no news is a tradition that Ricus continued after Cruise was gone) and last mine left rosh pinah needs lots of cash to become a low cost producer in 2 years. This is why the stock is at 12 cents = 1.20 at new 10 for 1 sale price.
im stil a major bag holder and have managed to average down to 0.44 cents ($4.40 in todays price) by buying a big chuck when they were almost bankrupt during covid and 0.80/lb zinc and i am confident this investment will not go to zero.
Only winners thus far have been Trevali management and glencore receiving the zinc at below market prices. Bag holder here until the end
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You have a lot more patience than me. After enough disapointment and losses over the last few years with TV i sold my last shares quite some time ago and moved on to other oil and mining stocks which have been doing quite well.
Lots of promises and hype with TV and then nothing but bad news and excuses quarter after quarter and year after year. When TV bought the African mines and turned into a 4 mine operation i along with many here had high hopes for the company. As you point out one of the mines is gone the other hopefully break even. The next one seems to be running out of zinc to mine and the last one need a couple of years and a bunch of cash to turn into a low cost producer if everything goes well as it usually does with TV.
For me personally there are just to many other companies out there to invest in that have much better prospects and are generating a lot of Free cashflow right now and long into the future for me to wait years with TV to hopefully turn around. By the time they do get things turned around two or three years from now will likely be just in time for the next downturn in zinc prices.
Good luck to those who still believe in TV. You will likely need it.