Updates?? June 3, 2022No 'News Releases' since May 25, 2022 even though two more miners (deceased) were located and reported on May 28, 2022 (by Reuters).
Very critical here... management gets paid big bucks (and has already granted itself more generous options this year) so we should expect top-notch performance by addressing all the key operational / financial issues that beset Trevali (the market thinks otherwise as most of these issues are self-inflicted).
No progress reports on the de-watering program - how many gallons have been pumped and are to be pumped (BTW the Burkina Faso rainy season starts in June and ends in October).
Warrants expired today - this financing option is gone.
Still no explanation about the missing 6.2M pounds of zinc...
No updates on the Perkoa plan - restart, amended LOM, government requirements etc.? Even an indication that management is working on a formal plan would be better than silence.
No updates on ROL / Caribou.
No updates on refinancing?
No updates on the prelimary FS / RP2.0 NPV (remember its "preliminary" which means much more detailed work is required to refine the calculations / financial-operational model).
Santander sale to Cerro de Pasco Resources Inc.- On April 29, 2022, Cerro announced that it was unable to file its audited consolidated financial statements, MDA and related officer certifications for the year ended December 31, 2021 before the prescribed deadline of May 2, 2022 primarily due to delays in the incorporation of the annual audited results of its recently acquired subsidiary, Trevali Peru (FS and audit thereof has not been completed). Cerro now expects to file the FS / MDA etc. on or before June 10, 2022 - not a good sign