TSX-V : TVI

Stock Quote: VSE

Price 0.03$

Change (+0%) +0.00

Volume 9,550

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Aug 05, 2022 02:54 PM Pricing delayed 20 minutes

OTCQX : TVIPF

Stock Quote: OTC

Price 0.03$

Change (+40.3%) +0.01

Volume 78,525

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Previous Close 0.02$

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Aug 05, 2022 03:53 PM Pricing delayed 20 minutes
Corporate
Presentation
Corporate Presentation Find out more about TVI through our latest Corporate Presentation GO TO CORPORATE PRESENTATION
The Balabag
Gold-Silver
Project
The Balabag Gold-Silver Project Find out more about the Balabag Gold-Silver Project WATCH VIDEO
The Canatuan
Experience
The Canatuan Experience Click here to review TVI's history of success at the Canatuan project GO TO THE CANATUAN EXPERIENCE

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Overview

TVI is a publicly traded Canadian resource company focused on the evaluation and acquisition of interests in resource projects in the Asia Pacific region.

TVI management’s track record of success includes putting the first foreign invested mine into production in the Philippines after the passage of the Philippine Mining Act of 1995. From 2004 to 2014, TVI produced 105,200 ounces of gold, 1.8 million ounces of silver, 199,778 tonnes of copper concentrate and 30,558 tonnes of zinc concentrate from the Canatuan mines and was recognized as one of the most responsible miners in the Philippines. Up until 2014, TVI carried out its work through its 100% owned Philippine operating subsidiary, TVI Resource Development (Phils.) Inc. (“TVIRD”), of which it has divested control in December 2013 but maintains a 30.66% interest in this joint venture, where TVI has joint control.

TVI management’s track record of success has continued with the Agata nickel/iron mine, Agata Mining Ventures Inc. (“AMVI”), which commenced operations in October 2014 and has since shipped a total of 19.33 million wet metric tonnes of nickel laterite through 355 shipments as at April 30, 2022. AMVI is a joint venture company between TVIRD (60%), Mindoro Resources Ltd. (NEX:MIO.H) (“Mindoro”) (15%) and Minimax Mineral Exploration Corporation (“Minimax”) (25%), in which TVIRD is operator. The Agata direct shipping nickel/iron mine site is strategically located within proximity to main markets in Asia.

The first shipment of gold doré from TVIRD’s 100%-owned Balabag Gold-Silver mine (“Balabag”) was completed on September 30, 2021, and through to May 31, 2022, seventeen (17) shipments have been completed in the amount of 17,552 kg containing 19,832 ounces of gold (“Au”) and 532,606 ounces of silver (“Ag”) for 26,591 gold equivalent ounces (“AuEq oz”). The project is situated approximately 75 kilometers (47 miles) east-northeast of TVIRD’s Canatuan mine. Twenty-four-hour operation of the plant was introduced in late August 2021 and activities at site continue to be focused on optimizing the operation and the ramping-up of throughput to 2,000 tonnes per day (“tpd”). TVIRD has advised that commercial production was achieved at Balabag effective November 1, 2021. The Tailings Storage Facility (“TSF”) continues to be constructed in stages to accommodate progressively increasing mineral resources as they are defined.

On November 4, 2021, TVIRD completed its acquisition of 100% of the outstanding equity in Greenstone Resources Corporation (“GRC”), the owner and operator of the Siana Gold Mine (“Siana”) and the Mapawa Project (“Mapawa”), both of which are located in the southern Philippine island of Mindanao. Prior to the acquisition by TVIRD, GRC was the Philippines affiliate of Red 5 Limited (“Red 5”) (ASX: RED), a Perth, Western Australian-based gold company, the shares of which are listed on the Australian Securities Exchange (“ASX”). Red 5 previously reported in their 2021 Annual Report a combined historical Indicated JORC 2012 mineral resource estimate for the Siana open pit and underground mine of 4.3Mt @ 4.6 g/t Au and 6.8 g/t Ag and combined Inferred JORC 2012 mineral resource estimate for the Siana open pit and underground mine of 0.5Mt @ 8.9 g/t Au and 10.6 g/t Ag. TVI is not treating this as a current mineral resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects as a qualified person has not done sufficient work to classify the historical estimate as current. TVIRD has been advised that all required permits are in place for the re-commencement of operations and TVIRD has commenced rehabilitation of the plant, the re-establishment of the mine access roads and pit perimeter drainage and the building-up of the in-house fleet of heavy equipment together with pre-stripping and the construction of TSF6.

On January 31, 2022, TVIRD obtained control of SageCapital Partners, Inc. (“SageCapital”) through the acquisition of all of its outstanding capital stock. SageCapital is a holding company incorporated under the laws of the Philippines which, in turn, owns 60% of the outstanding capital stock of Mt. Labo Exploration and Development Corporation (“MLEDC”), a Philippines mining and minerals exploration development company whose projects are based in Camarines Norte, Philippines, and which is the owner and operator of the Mabilo Project (“Mabilo”). With a near-surface deposit, Mabilo has potential for direct shipping ore (“DSO”) operations and it is contemplated that mining will use an open-pit mining method. The Mabilo mineralized deposit is classified as a copper-gold-iron skarn deposit that offers potential for multi-metal products, namely copper, gold and silver, with by-products magnetite (Fe3O4) and pyrite (FeS2). A NI 43-101 Technical Report prepared by Lycopodium Minerals Pty Ltd. and filed on May 2, 2016, under the SEDAR profile of RTG Mining Inc. (“RTG”), which holds a 40% interest in MLEDC through SRM Gold, reflects a historical Probable Mineral Reserves estimate of 7.8Mt at 2.0% Cu, 2.0g/t Au, 8.8g/t Ag and 45.5% Fe for Mabilo.

TVI does not operate or control any of the mines or projects of TVIRD.

As the previous 100% owner of TVIRD, TVI’s focus upon responsible mining established the framework through which TVIRD received and has continued to receive various environmental and safety awards for its exceptional performance, which include:

TVIRD is currently focused on maximizing its valuation, which would also maximize its investment value for TVI, by focusing on the following areas of growth:

  • Operating while continuing ramp-up of gold production at its Balabag Gold-Silver Mine while adding additional reserves through ongoing exploration.
  • Advancing development and a restart of operations at its Siana Gold Mine.
  • Operating the Agata direct shipping Nickel/Iron Mine while continuing to expand reserves.
  • Advancing the Mabilo Project towards development and production.
  • Advancing the Agata Limestone Projects toward development and production.
  • Repeating its success by exploring and developing its large portfolio of exploration/development tenements while continuing to search for new resource properties that can be acquired, rapidly developed and placed into production.
  • Progressing plans to list on the PSE.