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TVI Pacific Announces Record Consolidated Results for 2006

March 28, 2007

Consolidated Audited Financial Results:

- Cash Flow From Operations - 780% Increase

- Operating Revenue - 152% Increase

- Net Income - $1.8 Million Compared With A Loss Of $3.1 Million In 2005

CALGARY, ALBERTA--(CCNMatthews - March 28, 2007) - TVI Pacific Inc. (TSX:TVI) (the "Company") today announced record annual financial results for the year ended December 31, 2006. The Company posted an increase of 152% in total operating revenue to $44.5 million; an increase of 780% in cash flow from operations to $10.2 million; and an increase in net income to $1.8 million compared with a net loss of $3.1 million in 2005. These results are based on a successful year for production and cash flow at the Canatuan mine in the Philippines, and earnings from the revitalized international drilling business operated through TVI's affiliates, Exploration Drilling Corporation and Hunan Pacific Drilling. All dollar amounts stated in this news release are expressed in Canadian currency.

The information provided in this News Release should be read in conjunction with the Company's consolidated, audited financial statements and Management Discussion and Analysis for the year ended December 31, 2006, which have been filed on Sedar and are available under the Company's profile at www.sedar.com, and on the Company's website at tvi2014.q4web.com.

"The operating and financial successes achieved at Canatuan in 2006 have allowed us to plan for the next level of expansion and growth," said Clifford M. James, TVI President and CEO. "The financial contribution from the Canatuan mine has provided TVI Pacific with a strong platform from which we are now pursuing the Sulphide Copper-Zinc expansion project. We are also exploring aggressively at Balabag and Tamarok-Tapisa, and assessing various prospects for their potential as sources of ore for the Canatuan processing facility."

Financial Review

Highlights for the year ended December 31, 2006 include:

- Total operating revenue of $44,457,296 compared with $17,669,327 for the year ended December 31, 2005.

- Cash flow from operations of $10,150,995 compared with cash flow from operations of $1,153,289 for 2005.

- Canatuan mine cash flow from operations of $18,052,926 on revenues of $39,377,338 in 2006, compared with mine cash flow from operations of $4,536,815 on revenues of $14,634,699 for 2005.

- Canatuan mine net income of $10,721,296 compared with net income for the mine of $1,107,417 in 2005.

- The Canatuan mine produced 45,210 oz of Au and 608,507 oz of Ag in 2006, compared with 19,535 oz of Au and 445,859 oz of Ag during 2005. On a gold equivalent basis, the Canatuan mine produced 56,880 AuEqOz in 2006, an increase of 112% compared with 26,830 AuEqOz for the same period last year. The average price received in 2006 for an oz of Au was $687.00 (2005 - $548.03) and for oz of Ag was $13.12 (2005 - $8.84) which were used in the calculation of AuEqOz.

- The Canatuan mine average cash cost per AuEqOz was $369 compared with $371 in 2005. Total cost per AuEqOz was $511 in 2006, compared to $499 in 2005.

- Net income of $1,813,411 compared with net loss of $3,097,956 in 2005. Net income per share was $0.005 on a diluted basis, compared with a net loss per share of $0.009 in 2005.

Significant additional financial information includes:

- Cash balance of $1,565,854 as at December 31, 2006, compared with a cash balance of $476,097 as at December 31, 2005.

- Working capital deficiency was $(705,813) at December 31, 2006 compared with a working capital deficiency of $(2,580,471) at December 31, 2005.

- Total assets increased to $23,601,822 at December 31, 2006 compared with $18,698,253 at December 31, 2005.

- Exploration expenses of $4,059,287 were incurred in 2006, compared with $1,716,407 for 2005.

- Administrative and general expenses increased in 2006 to $3,580,690, from $2,717,362 for 2005.

- On a consolidated basis, which eliminates inter-company revenues and profits (ie. revenues generated from TVI's own work), the Drilling Segment produced cash flow, net income and revenues of $1,031,934, $671,840 and $5,066,972, respectively, for 2006, compared with $207,355, $40,758 and $3,004,923 in 2005.

- The Drilling Segment completed 16,847 meters of drilling for TVI during 2006 (out of a total 58,946 for the year), compared with 143 meters in 2005 (out of a total 19,370 for 2005).

Certain information set out in this News Release constitutes forward-looking information, including outlook information for TVI Pacific for 2007, anticipated timing for completion of the Canatuan Sulphide Project and startup of the Sulphide plant, 2007 exploration activity in the Philippines, the timing of an internal scoping study in relation to the Balabag prospect, assessment of other projects and properties in connection with the Company's efforts to acquire advanced stage properties/projects, expectations relating to the consolidation of the accounts of various Philippines entities within the TVI Pacific group, and the timing of recognition of a non-controlling interest on the consolidated income statement of TVI Pacific and recognition of a corresponding liability on the consolidated balance sheet of TVI Pacific.

Outlook

The 2007-year is expected to be a period of expansion for TVI Pacific. TVI's 2007 business plan identifies the construction of the Canatuan Sulphide Project as a primary objective for the year. At the same time, the 2007 business plan anticipates that the main focus for exploration will be near mine exploration in the vicinity of Canatuan, where the Company is evaluating various prospects as possible sources of ore for the Canatuan facility.

The Company has allocated funding for additional exploration work at the Balabag prospect, assuming continued encouraging drill results from the Balabag property. An internal scoping study is planned in 2007 for this project. A prior news release concerning exploration plans for the Company's Balabag prospect was issued March 1, 2007.

In 2007, management expects that the Company will also actively assess other projects and properties with the objective of acquiring advanced stage properties/projects. Additional details regarding the Company's acquisition plans were outlined in the news release issued by the Company on March 2, 2007.
The mining industry faces many challenges in 2007, as producers try to replace and increase ore reserves and resources in a high commodity price environment. Management believes TVI is well positioned for growth in 2007 and has the manpower, technical expertise and financial resources to do so.

About TVI Pacific Inc. (TSX:TVI)

TVI Pacific Inc. is a publicly traded Canadian mining company focused on exploring for and producing precious and base metals within district scale systems in Asia.

In the Philippines, TVI's most advanced project, the Canatuan Mine (the first foreign-invested, new, mining project in the Philippines since the passage of the Philippine Mining Act of 1995) began mining and milling operations in mid-2004, producing gold and silver dore through its affiliate TVI Resource Development (Phils.) Ltd. ("TVIRD"). In 2006, TVIRD received a completed NI 43-101 feasibility study on the Canatuan Sulphide project prepared by Norwest Corporation. The report has been filed with certain securities regulatory authorities in Canada and is available at the SEDAR website at www.sedar.com. The Norwest study addresses the copper-zinc bearing massive sulphide zone, or lower portion of the Canatuan Deposit. Construction of the Sulphide Project at Canatuan is now underway. In addition, TVIRD holds a 2.5% NSR on the Philippine-based Rapu Rapu project operated by Lafayette Mining Ltd. Exploration in the Philippines is being conducted at Canatuan, in an effort to expand TVIRD's mineral resource base and to find new deposits, at Balabag and at other areas which management of TVI view as compelling exploration properties.

TVI Resource Development (Phils), Ltd. ("TVIRD"), is the principal operating vehicle of the TVI Pacific group in the Philippines. TVI Pacific indirectly owns 40% of the outstanding voting shares of TVIRD, through a wholly owned subsidiary, TVI International Marketing Ltd. ("TVI Marketing"). TVI Marketing owns 40% of the outstanding voting shares of 19 other Philippines incorporated companies (together with TVIRD, the "Philippines Entities") and TVIRD owns the balance of the outstanding shares of each of those companies. For financial statement purposes, TVI Pacific consolidates the accounts of the Philippines Entities, which are classified as "variable interest entities", as TVI Pacific is recognized as the primary beneficiary. TVI Pacific expects to continue to consolidate the accounts of the Philippines Entities until such time as the cumulative losses of those entities are recovered. As at December 31, 2006, such cumulative losses were estimated at $14.2 million. Following recovery of the cumulative losses, TVI Pacific will be required to record a non-controlling interest on its income statement (and a corresponding liability on its balance sheet) in connection with the consolidation of the accounts of the Philippines Entities, which will result in only 40% of the net income generated by TVIRD being included in the consolidated net income of TVI Pacific. At this time, TVI Pacific is not able to accurately project when it may be required to recognize the non-controlling interest on its income statement and the related liability on its balance sheet. Depending upon the timing of certain events, the non-controlling interest and related balance sheet liability may be reflected in the financial statements of the Corporation as at and for the year ending December 31, 2007.

In China, TVI's wholly-owned Chinese subsidiary, Hunan Pacific Geological Exploration Inc. ("HPGEI"), was the first foreign mining company to be granted both WOFE status and a Qualified Explorer License. The exploration program in China is focused primarily within the Golden Triangle area, a highly prospective metallogenic region in China's south-western provinces of Yunnan, Guizhou and Guangxi Autonomous Region and prospective areas in the Tibet Autonomous Region. HPGEI has 2,394 sq kms of land under application in China in the Golden Triangle and in the Tibet A.R.

TVI also has a Drilling Segment consisting of Exploration Drilling Corporation ("EDCO"), a wholly-owned subsidiary of TVI Pacific Inc. based in the Philippines, and Hunan Pacific Drilling ("HPD"), a segment of HPGEI based in China, which generates revenue from contract drilling.

Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company, as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information provided or disseminated by third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as the volatility of prices for precious metals and base metals, commodity supply and demand, fluctuations in currency and interest rates, inherent risks associated with the exploration and development of mining properties, ultimate recoverability of mineral reserves, timing, results and costs of exploration and development activities, availability of financial resources or third-party financing, new laws (domestic or foreign), changes to administrative practices and changes in exploration plans or budgets. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this News Release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes. Forward-looking information respecting the Outlook for TVI Pacific for 2007 is based upon the 2007 business plan of the Company, which is subject to change, the existing financial resources of the Company, management's expectations relating to the 2007 business and economic environment in the Philippines and elsewhere, and the continuance of the existing commodity price environment throughout the 2007 financial year. Forward-looking information relating to the construction of the Canatuan Sulphide Project and the timing of completion of that project is based upon the 2007 business plan of the Company, which is subject to change, the availability of financial resources and third-party financing to support construction of the Sulphide Project, the availability of equipment and services, and the receipt of all necessary regulatory approvals.

Forward-looking information respecting the assessment of advanced stage properties/projects for acquisition is based upon the 2007 business plan of the Company, which is subject to change, and the availability of financial resources, discussions and negotiations to date with respect to possible acquisition opportunities. Forward-looking information relating to the anticipated exploration activities at Canatuan is based upon the results of prior exploration activities and current exploration plans and budgets, which are, in turn, premised on such things as the prices for precious metals and base metals, commodity supply and demand, currency and interest rates, recoverability of mineral reserves, timing, results and costs of development activities, availability of financial resources or third-party financing, applicable laws (domestic or foreign) and are subject to change. In certain cases, the anticipated timing of exploration activities is dependent upon the receipt of regulatory approvals from government authorities in the Philippines. The Company has no control over the timing of processing of applications for such regulatory approvals. Forward-looking information respecting the consolidation of the accounts of various Philippines entities within the TVI Pacific group and the timing of recognition of a non-controlling interest on the consolidated income statement of TVI Pacific and recognition of a corresponding liability on the consolidated balance sheet of TVI Pacific is based upon management's understanding of Canadian Generally Accepted Accounting Principles, advice received from the Company's external auditors, estimates respecting the amount of the cumulative losses of the applicable Philippines entities and anticipated events that may give rise to recovery of such cumulative losses. The forward-looking statements of the Company contained in this News Release are expressly qualified, in their entirety, by this cautionary statement. Various risks to which the Company is exposed in the conduct of its business (including exploration activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2006, which has been filed on SEDAR and is available under the Company's profile at www.SEDAR.com. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this News Release to reflect subsequent events or circumstances.

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

For more information, please contact

TVI Pacific Inc.
Clifford M. James
President and CEO
(403) 265-4356
(403) 264-7028 (FAX)

or

TVI Pacific Inc.
E. John W. Adkins
Vice-President Finance
(403) 265-4356
(403) 264-7028 (FAX)

or

TVI Pacific Inc.
Paul Moon
Director, Corporate Communications
(403) 265-4356
(403) 264-7028 (FAX)
Email: tvi-info@tvipacific.com
Website: tvi2014.q4web.com