Who is the Captain on this Trevali Ship?Who is running the show at the moment? Ricus has disappeared! The Creany CFO lead this financial shipwreck! The directors are leaving! Yet, the core bone-headed management team is still in place!!!
We, the shareholders, still own Trevali as a private company! I tried to get answers about the next steps including whether Trevali will publish Sept 30, 2022 financials, Dec 31, 20222 audited financials, or any financials / management reports but I have not had any success. Has anyone heard anything regarding the financials (even the FTI Consulting website provides no information)?
Trevali intends to sell Perkoa and Caribou leaving Trevali with Perkoa!! Any interested buyers are coming in knowing that Trevali is in a very weakened negotiating position! There is still the debt to be repaid - $85M credit facility and $13M to Glencore (plus $45M in AP and all the environmental obligations etc)..
One final comment... Glencore is also feeling the financial burn with this Trevali situation - Glencore took 193M Trevali shares as payment in-kind totaling US$219.2M when it sold Perkoa and Rosh Pinah to Trevali in 2017 (it also particapted in the 2020 placement and still has the US$13M loan owing). It is a headscratcher that Glencore did not take action sooner and cleared out the bone-headed management...