TSX: TVI OTCQX: TVIPF
CALGARY, May 1, 2013 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) (TVI or the Company) announced today that its Philippine operating
affiliate, TVI Resource Development (Phils.), Inc. (TVIRD), completed
its 35th shipment of copper concentrate produced at the Canatuan mine, on April
26, 2013.
Highlights:
-
5,282 dry metric tonnes (dmt) of concentrate were shipped containing
18.02% copper;
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Gross revenue of approx. US$10.4 million expected to be received for the
shipment; and
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Inventory of 931 dmt of copper concentrate is currently in storage.
The 35th shipment of 5,282 dmt of copper concentrate left the port of Santa
Maria in Siocon, Zamboanga del Norte, in accordance with the off-take
arrangement between TVIRD and MRI Trading AG (MRI) on April 27, 2013.
TVIRD expects to earn gross revenue of approximately US$10.4 million
from MRI for this shipment (pending final assay and price adjustments).
Remaining in inventory is approximately 931 dmt of copper concentrate.
Production remains steady at the Canatuan mine, achieving copper
concentrate grade levels between 17 and 20 percent. TVIRD anticipates
that future shipments of copper concentrate will continue approximately
every six to eight weeks.
About TVI Pacific Inc.
TVI Pacific Inc. is a Canadian resource company focused on the
production, development, exploration and acquisition of resource
projects in the Philippines and Southeast Asia. The Company produces
copper and zinc concentrates from its Canatuan mine and is advancing
its Balabag Gold-Silver project. TVI is a participant/operator in
several joint venture projects in the Philippines and Papua New Guinea
and also has an interest in an offshore Philippine oil property.
The Toronto Stock Exchange has neither approved nor disapproved of the
information contained herein.