TSX: TVI OTCQX: TVIPF
CALGARY, Jan. 21, 2014 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) ("TVI" or the "Company") announced today that its Philippine operating affiliate, TVI Resource
Development Philippines, Inc. ("TVIRD"), completed its seventh shipment of zinc concentrate produced at the
Canatuan mine on January 7, 2014.
5,069 dry metric tonnes (dmt) of zinc concentrate was shipped containing
Gross revenue of US$3.3 million is expected to be received for the
The Company's seventh shipment of 5,069 dmt of zinc 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 January 7, 2014. TVIRD expects to receive gross revenue of
approximately US$3.3 million from MRI for this shipment (pending final
assay and price adjustments). This is the last zinc concentrate
shipment from the current mining operations as ore reserves from the
open pit have been exhausted. It is expected that at least one more
shipment of copper concentrate will be scheduled.
Before the implementation of the mine decommissioning plan as stated in
Management's Discussion and Analysis for the nine months ended
September 30, 2013, and as filed on SEDAR on November 12, 2013, TVIRD
will do further condemnation drilling and exploration work in areas
within the tenement that can potentially extend mine life.
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. TVI's affiliate,
TVIRD, has to date produced copper and zinc concentrates from its
Canatuan mine and is advancing its Balabag Gold-Silver project and its
Agata Nickel direct shipping ore ("DSO") operation. TVI is a direct or indirect 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.
SOURCE: TVI Pacific Inc.
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