This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TVI Pacific Inc. Provides An Update On Its Mindoro Joint Venture Projects

TSX: TVI  OTCQX: TVIPF

CALGARY, Feb. 11, 2013 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) ("TVI" or the "Company") and its Philippine operating affiliate, TVI Resource Development (Phils.), Inc. ("TVIRD") are pleased to provide an update on the joint venture projects with Mindoro Resources Ltd. ("Mindoro"). TVI and Mindoro have signed four joint venture agreements, previously announced on October 1, 2012, relating to the Agata and Pan de Azucar mining projects located in the Philippines on the Islands of Mindanao and Panay, respectively. The joint ventures present TVI and Mindoro with multiple growth opportunities for near-term and medium-term cash flow generating potential. Under the agreements TVIRD has the ability to earn up to a 60% interest and will act as operator of the projects.   A management committee composed of senior management members of both TVIRD and Mindoro will oversee each of the projects.

  • Growth opportunities include:
    • a near-term high iron (Fe) laterite direct shipping ore (DSO) operation
    • a near-term limestone DSO operation
    • a medium-term pyrite material DSO operation
    • a medium-term lime production facility
    • a medium-term nickel (Ni) processing plant
  • Development planning/permits are well-advanced for the high Fe and limestone DSO operations, both with potential to generate near-term cash flow.
  • Project Execution/Technology Development team fast-tracking Ni processing plant using low-capex leaching technology.
  • Ni processing plant capex is expected to be less than US$100 million; estimated opex approximately US$4 per lb Ni, assuming use of imported sulphuric acid.
  • Pan de Azucar pyrite deposit being evaluated for both DSO of pyrite material and production of sulphuric acid for the Agata Ni processing plant to further reduce opex.




1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs