Trevali Mining has been granted a sales and investment solicitation process (SISP) order by the British Columbia Supreme Court to dispose its 90% stake in Rosh Pinah mine.
According to a timeline published, the final bid deadline for Rosh Pinah will be November 21.
The miner, which in August placed the expansion of Rosh Pinah on hold after it filed for protection from its creditors, has suffered several setbacks lately, including a flooding event that shuttered its Perkoa
mine, in Burkina Faso, leading to the deaths of eight people.
The latest development comes hardly a few weeks after Trevali announced that its president and CEO Ricus Grimbeek had resigned from the company, and that COO Derek du Preez would depart by mid-October.
Grimbeek was CEO of Trevali for nearly three-and-a-half years, while Du Preez also joined more than three years ago.
The company said Grimbeek determined that it was an appropriate time for him to step away, given the SISP order and the sales processes under way for Rosh Pinah and Caribou.
Du Preez would remain with the company until October 14, to support a transition of operational, technical and other aspects of the business, as well as the initial phase of the SISP.
Dan Isserow has resigned as a director of the company. Isserow was first appointed to the board of directors in October 2017, following the acquisition by the company of the Perkoa and Rosh Pinah mines.
National Bank Financial has been appointed as Trevali’s sales agent for the purposes of the SISP
Trevali, whose revenue is mostly generated from zinc and lead concentrate production, is a global base-metals mining company headquartered in Vancouver, Canada.
The Company has three primary assets: the 90%-owned Perkoa Mine in Burkina Faso, the 90%-owned Rosh Pinah Mine in Namibia, and the wholly owned Caribou Mine in northern New Brunswick, Canada.
