Canadian mining company Trevali has set its 2021 guidance for zinc between 330-360mn lb. The 2021 guidance for lead production is 45-50mn lb. The company announced that it has achieved its zinc production guidance for 2020 at 313mn lb.
Q4 FY2020 zinc production was 74mn lb, a drop of 29pc compared to the prior-year quarter. Zinc production from Q1 to Q3 was 239mn lb. Trevali’s annual guidance of zinc production for 2020 was between 312 to 327mn lb.
Q4 lead production was at 9mn lb and Q1-Q3 production was 21mn lb. Lead production exceeded 2020 guidance by 30mn lb.
Zinc sales volume in Q4 was 15pc higher than Q3 at 74.8mn lb. Overall sales volume for 2020 was 303.5mn lb.
Q4 revenues increased 36pc to $68.1mn from the previous quarter due to a 12pc improvement in the average quarterly zinc price and a 15pc increase in payable sales volumes.
Overall Q4 adjusted EBITDA was $20.1mn, a 79pc increase over Q3 and flat from the prior-year period. Adjusted EBITDA for 2020 was $19mn.
Cost expectation for the first half of 2021 is higher than the second half. Trevali plans to restart its Caribou mine operation and extend the lives of Perkoa, Rosh Pinah, and Santander mines after work being largely suspended in 2020.