Canadian Mining Journal

News

ZINC-LEAD: Trevali raises $46.0 million for Caribou restart

NEW BRUNSWICK – Trevali Mining Corp. of Vancouver has closed its bought deal offering of 55.4 million common shares at a price of $0.83 per share, raising $46.0 million to be used to restart the Caribou zinc-lead-copper mine and mill 50...



NEW BRUNSWICK – Trevali Mining Corp. of Vancouver has closed its bought deal offering of 55.4 million common shares at a price of $0.83 per share, raising $46.0 million to be used to restart the Caribou zinc-lead-copper mine and mill 50 km west of Bathurst. The offering was underwritten by a syndicate led by Dundee Securities.

Trevali became the owner of the former producing Caribou property when it acquired Maple Minerals in November 2012. The project has a modern, 3,000-t/d concentrator and a permitted tailings facility. The mine has measured and indicated resources of 7.23 million tonnes grading 6.99% Zn, 2.93% Pb, 0.32% Cu, 84.43 g/t Ag, and 0.89 g/t Au. There are another 3.66 million inferred tonnes of resources with slightly lower grades.

The company intends to restart production within the next 12 to 24 months. The 43-101 report done in February 2013 is posted at Trevali.com.