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TVI Pacific Announces Record Earnings Per Share, Operating Cash Flow and Net Income

November 12, 2009

CALGARY, ALBERTA--(Marketwire - Nov. 12, 2009) - TVI Pacific Inc. (TSX:TVI)

For the three months ended September 30, 2009

- Earnings per share $0.021
- Operating cash flow $11.4 mm
- Net income $9.9 mm
- Copper equivalent produced 8.2 mm pounds
- Production cash cost US$0.55/lb
- Percentage of gross revenue
from by-products (gold and silver) 18%
TVI Pacific Inc. ("TVI" or "the Company") today announced unaudited, consolidated financial and operational results for the three and nine months ended September 30, 2009. This press release should be read in conjunction with the third quarter financial statements and associated management's discussion and analysis filed with certain securities regulators in Canada on November 12, 2009 and also available on our web site (tvi2014.q4web.com) and SEDAR (www.sedar.com).

Key Financial Achievements Quarter Over Quarter

- 126% increase in Net Revenue

- 83% increase in Operating Cash Flow
- Earnings Per Share increase from $0.001 to $0.021


(1) See financial statements for the reconciliation from
operating cash flow to free cash flow.

Key Production Achievements Quarter Over Quarter

- 38% increase in copper production

- 5% decrease in production cash costs

- 27% increase in average copper price received


(1) See MD&A for assumptions used in the calculation of the
copper pound equivalent.

"As previously reported, a number of factors have contributed to our financial and operational success over the past three quarters" said Cliff James, TVI's President and CEO. "Through steady process improvements at Canatuan, the team has been able to decrease average production cash costs demonstrating that we continue to deliver on our operational targets. This, combined with strong copper prices, has resulted in a considerable improvement to our cash position. This has allowed us to start construction on the Zinc Circuit well ahead of schedule and accelerate exploration and development activities at Canatuan and Balabag, and exploration projects at Tamarok."

The following table details key operating statistics for the Canatuan Sulphide Mine for the three and nine months ending September 30, 2009.


As previously disclosed, construction has begun on an additional flotation circuit to process zinc ore. The Zinc Circuit, expected to be fully operational by late April 2010, will monetize the zinc component of the deposit for an added revenue stream. As expected, mining has progressed into the copper-zinc portion of the ore body. Off-take arrangements for the zinc concentrate are currently being negotiated.

As reported on October 29, 2009, TVI completed its eighth consecutive shipment of copper concentrates. The concentrates were shipped from the TVIRD warehouse facility, at Santa Maria Port in Siocon, Zamboanga del Norte, in accordance with the offtake arrangement previously entered into between TVIRD and MRI Trading AG ("MRI").

PROJECTS UPDATE

Near-term Development

Canatuan Near-Mine Tenements

Exploration to date has identified several mineral occurrences on the surrounding tenements, including the Tabingan, Matigdao, and Palalian prospects, which TVI believes are compelling exploration prospects. TVIRD plans to advance exploration soon.

Through exploration, TVIRD hopes to find new commercial mineral deposits in the vicinity to further increase the mineral resource and extend the life of the Canatuan Mine by providing new feedstock for the existing facilities. TVIRD is focusing exploration efforts on previously-discovered mineralized zones within a fifteen kilometre radius of the main deposit, surrounding and along strike of the mine. These present immediate growth opportunities which will help extend the current mine life.

Balabag

The Balabag gold project is a high priority for TVI. Based on preliminary exploration results, TVI believes that the Balabag property has the potential to become a second production centre for the Company. TVI has begun to evaluate development scenarios designed to bring the Balabag project into production, with advance development work scheduled to commence later this year.

One option under consideration involves the establishment of a "bootstrap" mining operation at Balabag. This alternative involves the construction of a small pilot plant, with limited capital expenditures and relatively low initial throughput that can be ramped up over time into a full scale mining operation using the cash flows generated from operations. The option to construct a Balabag plant in stages would allow the Company to advance activities with minimum initial capital and to begin production at an earlier date.

High-Impact Exploration

Tamarok and Tapisa

In North Zamboanga, TVIRD's applications cover almost all the targets identified by a prior exploration program, conducted by a major international company, numbering at least 20 epithermal gold, massive sulphide and porphyry copper-gold prospects. The Tamarok copper-gold project and the Tapisa exploration project are located 60 kilometres north-northeast of TVIRD's Balabag project. Reconnaissance work carried out to date supports historical findings and has discovered new prospects. Notably, a great deal of the mineralization in these areas occurs right on the surface and has been easily accessible to the Company's exploration teams.

The Company has completed all requirements necessary to have the Mineral Production Sharing Agreement ("MPSA") signed by the Secretary of the Department of Energy and Natural Resources of the Republic of the Philippines. Following the signing of the MPSA, TVIRD plans to conduct geophysical surveys, carry out systematic detailed geological investigations, further delineate drill targets on surface, and schedule a diamond drilling program.

TVI is also considering strategic alliances or joint ventures with other mining companies to benefit from economies of scale. There can be no assurance that any of the current discussions will result in further investments in the Company or that the consideration of strategic alliances and joint ventures will lead to the establishment of relationships with third-party mining organizations.

About TVI Pacific Inc. (TSX:TVI)

TVI Pacific Inc. is a publically traded, profitable, low cost copper producer focused on the production, development, exploration and acquisition of precious and base metal mining deposits in the Philippines. The Company's interest in the Canatuan Mine and its other Philippine assets are held through its affiliate, TVI Resource Development (Phils.), Inc.

IMPORTANT INFORMATION REGARDING FORWARD-LOOKING STATEMENTS

Certain information set out in this Press 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", "schedule" and similar expressions. In particular, this MD&A includes forward-looking information respecting:

- anticipated future operating information concerning the sulphide operation at Canatuan (including the anticipated processing of zinc concentrates in the future);

- the use of cash generated from the sulphide operation at Canatuan to support exploration and development of other TVI projects in the Philippines;

- timing for future shipments of copper concentrates:

- the Company's efforts to have its claims recognized by the Rehabilitation Court in regards to the Rapu Rapu royalty;

- planned cost reduction initiatives;

- the nature and timing of anticipated exploration activities at Balabag, Tamarok-Tapisa, Bonbon and the Company's other properties in the Philippines;

- the nature and timing of future development activities at Balabag; and

- expectations regarding the Company's ability to raise capital and to continually add to mineral reserves through acquisitions, exploration, and development.

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 received from 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 received from 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 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 in administrative practices; changes in exploration plans or budgets; and availability of equipment and personnel. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this MD&A and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.

Forward-looking information respecting future operating information concerning the sulphide operation at Canatuan (including the anticipated processing of zinc concentrates in the future) is based upon current mining and processing activities at Canatuan, the current throughput of the sulphide plant, anticipated expansions in the throughput capacity of the sulphide plant, prior experiences of management with mining and processing at Canatuan, the estimated copper and zinc mineralization of the sulphide zone at Canatuan, the current development and operating plan for Canatuan, and the Company's current budget and overall strategy for Canatuan, which plans, budget and strategy are all subject to change. Forward-looking information respecting the use of cash generated from the sulphide operation at Canatuan to support exploration and development of other TVI projects in the Philippines is based upon anticipated production and sales of copper concentrates at Canatuan, current mining and processing activities at Canatuan, the current throughput of the sulphide plant, anticipated expansions in the throughput capacity of the sulphide plant, prior experiences of management with mining and processing at Canatuan, the estimated copper and zinc mineralization of the sulphide zone at Canatuan, the current development and operating plan for Canatuan, and the Company's current budget and overall strategy for Canatuan, which plans, budget and strategy are all subject to change. Forward-looking information regarding the frequency of future shipments of copper concentrates to MRI is based on discussions held to date with MRI, experience gained during the first eight concentrate shipments with MRI, the current throughput of the sulphide plant, anticipated expansions in the throughput capacity of the sulphide plant, prior experiences of management with mining and processing at Canatuan, the estimated copper and zinc mineralization of the sulphide zone at Canatuan, the current development and operating plan for Canatuan, and the Company's current budget and overall strategy for Canatuan, which plans, budget and strategy are all subject to change. Forward-looking statements regarding dialogue with the Rehabilitation Receiver in connection with Rapu Rapu are based on discussions held to date. Forward-looking statements regarding cost reduction initiatives are based on management's cost targets and the reductions implemented to date. Forward-looking statements regarding the potential sales of non-core assets are based on the expectations of management and expressions of interest received to this point.
Forward-looking information relating to the anticipated exploration activities at Balabag, Tamarok, Tapisa, Bonbon and the Company's other tenements in the Philippines are based upon the results of prior exploration activities, current mining and exploration activities, and the Company's current budget and overall strategy, all of which are subject to change. In certain cases, the anticipated timing of exploration activities in the Philippines is dependent upon the receipt of regulatory approvals from government authorities in the Philippines. Forward-looking information regarding nature and timing of future development activities at Balabag is based on information in NI 43-101 compliant technical reports, opportunities for project financing, as well as management's previous experience with the construction and operation of the gossan and sulphide operations at Canatuan. Forward-looking statements regarding the Company's ability to raise capital and to continually add to mineral reserves through acquisitions, exploration and development is based on the Company's experience in the Philippines, previous financing endeavours, exploration and due diligence completed to date, and the Company's experiences exploring, constructing and developing the Canatuan gossan and sulphide projects. The forward-looking statements of the Company contained in this MD&A are expressly qualified, in their entirety, by this cautionary statement. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this MD&A to reflect subsequent events or circumstances, except as required by law.

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

For more information, please contact

TVI Pacific Inc.
Investor Relations
(403) 265-4356
tvi-info@tvipacific.com