A little historyTrevali bought Rosh Pinah and Perkoa from Glencore for US$417.8M in 2017. The mines that Trevali owned before the deal were Santander and Caribou. Santander is being sold off because it is pretty much worthless. Caribou is on life support with most of its output being sold at breakeven. The value that this company now has is in the 2 mines bought from Glencore for US$417.8M. Unfortunately, Trevali's market cap is only around $200M, so not only have Trevali's original assets become worthless, the assets it purchased are now worth half of what they paid. This has been a very successful exercise in wealth destruction.