Trevali Mining (TSX: TV) has finally conceded that it will likely be delisted from the Toronto Stock Exchange following a string of unfortunate events for the firm. The development was included at the bottom of a late evening news release filed by the firm yesterday.
Trading in the firms shares have been suspended since August 22, after the company formally announced it had applied for creditor protection after missing certain debt payments. The failure to make those payments follows a flooding event at its Perkoa Mine in Burkina Faso, as well as the closure of its Caribou Mine in New Brunswick due to poor productivity.
With a listing review scheduled for September 1, the company has indicated that it expects to be delisted from the Toronto Stock Exchange following the review.
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READ: Trevali Mining Executives Arrested In Burkina Faso, Stand Trial For Perkoa Mine Flooding
Separately, the firm has obtained an extension to its stay period under its creditor protection filing, with the stay period now extended to October 6, 2022.
Trevali Mining last traded at $0.205 on the TSX.
Information for this analysis was found via Sedar and Trevali Mining Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
