TSX-V : TVI

Stock Quote: VSE

Price 0.05$

Change (+12.5%) +0.01

Volume 10,500

Today's Open 0.05$

Previous Close 0.04$

Intraday High 0.05$

Intraday Low 0.05$

52 Week High 0.06$

52 Week Low 0.02$

Dec 01, 2021 09:30 AM Pricing delayed 20 minutes

OTCQX : TVIPF

Stock Quote: OTC

Price 0.03$

Change (-3.79%) -0.00

Volume 112,000

Today's Open 0.03$

Previous Close 0.03$

Intraday High 0.03$

Intraday Low 0.03$

52 Week High 0.06$

52 Week Low 0.01$

Dec 01, 2021 01:26 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 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 four 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/Iron project, Agata Mining Ventures Inc. (“AMVI”), which commenced operations in October 2014 and has since shipped a total of 18.3 million wet metric tonnes of nickel laterite through 336 shipments as at the end of September 2021. AMVI is a joint venture company between TVIRD (60%), Mindoro Resources Ltd. (“Mindoro”) (15%) and Minimax Mineral Exploration Corporation (“Minmax”) (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 has the unique advantage to ship 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.

TVI announced on November 22, 2019, that TVIRD had determined to advance its 100% owned Balabag gold/silver project towards commercial production and on September 30th, 2021, the first shipment of gold doré from Balabag was completed in the amount of 855 kg containing 932 ounces of gold (“Au”) and 25,959 ounces of silver (“Ag”) for 1,263 gold equivalent ounces.  Twenty-four-hour operation of the plant was introduced in late August 2021 and the average recoveries through September 2021 have been 95% for Au and 86% for Ag.  The plant is currently being fed from the run of mine (“ROM”) mineralized stockpile.  An approximate 86,500 tonnes of mineralized material is on the ROM mineralized stockpile, in-pit stockpile and crushed mineralized stockpile at September 30, 2021, much of which is low to marginal grade and was mined to expose the higher-grade mineralized resource during waste stripping and bench forming.  The stockpiles have an average grade of 1.1 g/t gold and 39.7 g/t silver.  It is expected that the average grade of feed will increase as higher-grade mineralized resource is mined.  Activities at site continue to be concentrated on optimizing the operation and the ramping-up of throughput to 2,000 tonnes per day.       

On September 20, 2021, TVIRD completed the acquisition of 100% of the outstanding equity in Greenstone Resources Corporation (“GRC” and the “GRC Shares”), the owner and operator of the Siana Gold Project (“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.  Red 5 has previously reported in their 2020 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’s plan is to recommence operations at Siana as soon as possible and is presently developing plans in furtherance of this objective. 

As at September 30, 2021, 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 TVIRD through its exceptional performance thus far at Canatuan and Agata include:

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:

  • Continuing ramp-up of gold production at the newly producing Balabag Gold-Silver project in addition to ongoing exploration works.
  • Advancing development and a restart of operations at the Siana Gold Project.
  • Continuing and expanding Nickel/Iron direct shipping operations and increasing resources at the Agata Nickel Laterite Mine.
  • 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.