Trevali Mining ( OTCQX:TREVF ) -50.4% in Tuesday's trading after warning its liabilities exceeded its assets and that it would not be able to make a mandatory payment on a $7.5M revolving credit facility this week.
The company produced 34.5M lbs of zinc in Q2, due to difficulties at the Perkoa mine in Burkina Faso and at the Caribou mine in Canada, partially offset by a positive performance at the Rosh Pinah expansion project in Namibia.
With Caribou’s full-year production and cost guidance suspended and Perkoa operations also suspended following floods that killed eight people , Trevali ( OTCQX:TREVF ) provided new full-year guidance.
Trevali ( OTCQX:TREVF ) reported Q2 adjusted EBITDA fell 78% Q/Q to $9.2M on revenues of $52M .
For further details see:
Trevali shares cut in half on debt default warning