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Jul 30, 2021 03:59 PM Pricing delayed 20 minutes


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Corporate Presentation Find out more about TVI through our latest Corporate Presentation GO TO CORPORATE PRESENTATION
The Canatuan
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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TVI Pacific Inc. (“TVI”) is a publicly traded Canadian resource company focused on the evaluation and acquisition of interests in resource projects in the Asia Pacific region.

Led by a management team with the proven ability to design, build and operate mines, TVI’s corporate strategy is to acquire advanced resource projects that can be rapidly explored, developed and ultimately put into production to generate revenues and cash flow. Since 2004, management has successfully opened three mines in the Philippines with profitable operations and award-winning safety, environmental and social performance.

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 laterite project, Agata Mining Ventures Inc. (“AMVI”), which commenced operations in October 2014 and has since shipped a total of 16.24 million wet metric tonnes through 298 shipments as at December 31, 2020. AMVI is a joint venture company between TVIRD (60%), Mindoro Resources Ltd. (“Mindoro”) (15%) and Minimax Mineral Exploration Corporation (25%), in which TVIRD is operator. The Agata Direct Shipping Nickel/Iron Project site is strategically located within proximity to main markets in Asia and bears the opportunity for shipping all year round. TVIRD is focused on maximizing the production and sale of higher nickel grade saprolite ore in order to secure the highest selling prices and to maximize revenues while producing also high iron limonite ore when market conditions are favorable.

Development works are continuing at TVIRD’s 100% owned Balabag gold/silver project since TVI announced on November 22, 2019 that TVIRD had determined to advance the project towards commercial production. The project is situated approximately 75 kilometers (47 miles) east-northeast of TVIRD’s Canatuan mine. As at December 31, 2020, commissioning of the front-end circuits of the process plant is continuing and has included low grade ore being fed through the crushing area for the purpose of debugging the Mill. Critical remaining works include the Tailings Storage Facility (“TSF”) where stripping and removal of waste materials and the placement, spreading and compaction of numerous layers is continuing.

As at December 31, 2020, Canatuan is in the process of completing its final rehabilitation activities under the supervision of the Multi-Partite Monitoring Team (“MMT”) that includes members of the Local Government Units (“LGU”), representatives of the local community, the municipal and provincial government, and the Department of Environment and Natural Resources (“DENR”) (as representatives of the national government).

Environmental and safety awards received by TVI through its exceptional performance thus far at Canatuan and Agata include:

  • TVIRD received awards up through 2013 as operator of the Canatuan Mine and commencing 2015 has received awards as operator of AMVI. DSO operations since start-up of operations in October 2014. The Presidential Industry Environmental Award (“PMIEA”) is the highest award given by the PMIEA Selection Committee (PMIEA-SC). Mining companies which fall short of the PMIEA requirements but exhibited excellent performance in environment, safety, health, and social development are awarded with the PMIEA-SC Achievement Awards, namely the Platinum and Titanium awards. 

The Philippine entity, 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:

  • Developing, operating and expanding Nickel/Iron direct shipping operations and increasing resources at the Agata Nickel Laterite Mine.
  • Completing development of the Balabag Gold-Silver Project towards commencing production.
  • Advancing the Agata Limestone Projects toward development and production.
  • Evaluation of other exploration and development projects in the Philippines with potential for early cash flow generation.

In addition to its interest in TVIRD and other Philippine subsidiaries, TVI directly held at November 30, 2020 a 2.97% equity interest in Integrated Green Energy Solutions Ltd (“IGES”) a publicly listed company incorporated in Australia with shares listed on the Australian Stock Exchange (“ASX”). IGES is focused on converting to fuel waste plastic that is destined for landfill or discarded into the environment. Further to the IGES public disclosure documents, the patented plastic to fuels process of IGES results in a range of fuels and products, including EN590 (Road Ready Diesel), EN228 (Road Ready Petrol), Naphtha, Marine fuel and Marine Diesel Oil (MDO). The specific products IGES provides are determined by the territory requirements for each individual site location.  Since January 20, 2020, IGES has been suspended from trading on the ASX (see Investments / Integrated Green Energy Solutions Ltd. for additional information).