TVI Pacific Inc (TVIPF)

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Mindoro Resources announced The Notice of Meeting, Management Information Circular and Proxy pertaining to the Special Shareholders Meeting to be held at 4 p.m. on Oct. 9 in Calgary, Alberta, Canada.

In a release on Sept. 7, the Company said the notice was filed on Sedar and released to the ASX on Sept. 6. Key resolutions include the approval by shareholders of the second tranche of the private placement involving TVI Pacific, Inc.

In addition, Mindoro, TVI and TVI Resource Development Phils., Inc. ("TVIRD") have agreed to amend the Heads of Agreement ("HOA") to reflect:

-the further extension of the closing date for the first tranche of the private placement to on, or before, Sept. 21. It is a condition to closing the first tranche of the private placement that the Agata and Pan De Azucar joint venture agreements contemplated in the HOA (as amended) are finalised and executed. Good progress is being made with respect to the negotiation and finalising of these joint venture agreements.

-an amendment to the exclusive right of TVIRD to form a joint venture relating to the Pan De Azucar Project to include the right to form a Direct Shipping Ore ("DSO") Joint Venture ("PDADJV") as well as the contemplated (in the HOA) Pan De Azucar Processing Joint Venture ("PDAPJV"), which effectively reflects the exercise by TVIRD of the option extended to TVIRD in the HOA.

-Under the terms detailed in the HOA (as amended), TVIRD would commit to 100 percent of the required expenditures (approved by the applicable Management Committee) to enable the operation of a DSO project at Pan de Azucar with the intention of generating early cash flow for the PDADJV. Upon commencement of the DSO operation, TVIRD would earn a 60 percent interest in the PDADJV, subject to TVIRD having expended a minimum of C$2 million within 12 months of the date of execution and delivery of the definitive option and joint venture agreement for the PDADJV and DSO operations having commenced within 3 years of the date of the execution and delivery of the definitive option and joint venture agreement for the PDADJV.

-With respect to the PDAPJV (Processing), upon TVIRD having made expenditures on the Pan De Azucar Project of US$2 million, with C$1 million having been expended within 12 months and the full US$2 million having been expended within 24 months of the date of execution and delivery of the definitive option and joint venture agreement for the PDAPJV, TVIRD would earn a 51 percent interest in the PDAPJV. TVIRD will have an option to earn an additional 9 percent interest in the PDAPJV by spending an additional US$3 million on the project over a maximum of 24 months following the expiration of the initial 24 month period referred to above (which, if exercised, would result in TVIRD increasing its PDAPJV interest to 60 percent).

On Feb. 8, Mindoro announced a drill-defined Exploration Target for the Valderama pyritic massive-sulphide deposit, on its 75 percent interest Pan de Azucar Project, Iloilo Province, Philippines, of 8 million to 12.7 million dry metric tonnes (DMT) in a grade range of 35 percent to 40 percent sulphur (70 percent to 90 percent pyrite), 0.4 percent to 0.6 percent copper and 0.5 g/t to 0.7 g/t gold.