"Adjustment" at PerkoaThe 6.2 million pound downward adjustment, in zinc production at Perkoa, subsequent to the end of the fourth quarter, reduced EBITDA by $9.5 million, or just under 10% and increasing Q4 AISC by $0.03 per pound. This event took place at a time of political upheaval in Burkina Faso. Given the checks and balances Trevali would have had in place, it is difficult to understand how a measurment error took place, leading to the disappearance of 6.2 million pounds of zinc (3,100 tons) or about 9,000 tons of concentrate.
In the 1970s in Zambia, trucks loaded with copper ingots would leave the copper belt and drive to Dar in Tanzania. Trucks of refined metal would often disappear. In this case 9,000 tons of concentrate seems to have disappeared.
Is one possible explantation for the adjustment - theft?