Q2-2022 FINANCIAL AND OPERATIONAL RESULTS CONFERENCE CALL AND WEBCAST CANCELLED…
The Company has cancelled a conference call and webcast presentation regarding the second quarter financial and operational results. For additional detail, please see Trevali's quarterly consolidated financial statements and management's discussion and analysis for the three and six months ended June 30, 2022, which are available on Trevali's website and the Company's profile on SEDAR at
www.sedar.com.
MANAGEMENT IS PAID BUT WONT FACE THE MUSIC!!!!!!!!!!! Based on a review of its available liquidity, the Company anticipates that it will
not be in a position to make a mandatory prepayment of approximately $7.5 million on its revolving credit facility when such payment is due on August 17, 2022.
Updated
RP2.0 expansionary capital cost to $121 million with an estimated commissioning date of Q4 2024, assuming financing is in place by the end of Q3 2022 and a full funding decision is made.
Guidance on the $20 million Early Works program included in the $121 million,
has been suspended and is under review.
Financing Initiative to fund the RP2.0 expansion project
and refinance the existing debt that matures in September of 2022, which had progressed with several capital providers, including Standard Bank, an Export Credit Agency, Glencore, and a metal streaming company
, has not sufficiently advanced in a manner that will allow for the refinancing to be completed prior to the maturity of existing Debt Facilities, if at all.