TVI Pacific Inc. Completes 35th Shipment of Copper Concentrate
May 01 2013 - 1:30PM
OTC Markets
TVI Pacific Inc. Completes 35th Shipment of Copper Concentrate
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TVI Pacific Inc. Completes 35th Shipment of Copper Concentrate
Canada NewsWire
CALGARY, May 1, 2013
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;
Gross revenue of approx. US$10.4
million expected to be received for the
shipment; and
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.
SOURCE TVI Pacific Inc.
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