InvestorsHub Logo

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Live Updating
profile icon
ChuckD-MSB Free
03/20/12 8:54 AM
profile icon
cbbmtt Free
01/09/12 4:16 PM
profile icon
cbbmtt Free
01/05/12 1:35 PM
profile icon
cbbmtt Free
01/05/12 11:35 AM
profile icon
ChuckD-MSB Free
01/05/12 5:23 AM
profile icon
ChuckD-MSB Free
01/05/12 5:23 AM
profile icon
ChuckD-MSB Free
12/30/11 12:24 PM
profile icon
cbbmtt Free
12/29/11 10:53 AM
profile icon
ChuckD-MSB Free
12/28/11 6:47 PM
profile icon
cbbmtt Free
12/28/11 5:06 PM
profile icon
cbbmtt Free
12/28/11 2:19 PM
profile icon
Pussim Free
08/19/11 1:40 PM
profile icon
ChuckD-MSB Free
08/15/11 1:05 PM
profile icon
ChuckD-MSB Free
08/12/11 9:35 AM
profile icon
ChuckD-MSB Free
07/21/11 11:34 PM
profile icon
ChuckD-MSB Free
07/18/11 11:39 AM
profile icon
ChuckD-MSB Free
07/15/11 10:36 AM
profile icon
Pussim Free
06/27/11 11:27 AM
profile icon
ChuckD-MSB Free
06/27/11 10:15 AM
profile icon
ChuckD-MSB Free
06/13/11 9:13 AM
profile icon
ChuckD-MSB Free
06/02/11 9:24 AM
profile icon
ChuckD-MSB Free
06/01/11 1:23 PM
profile icon
ChuckD-MSB Free
05/29/11 5:59 PM
profile icon
ChuckD-MSB Free
05/27/11 1:54 PM
profile icon
ChuckD-MSB Free
05/25/11 3:49 PM
profile icon
ChuckD-MSB Free
05/25/11 10:06 AM
profile icon
ChuckD-MSB Free
05/19/11 8:54 AM
profile icon
ChickenLittle Free
05/19/11 3:08 AM
profile icon
ChuckD-MSB Free
05/13/11 9:59 AM
profile icon
ChuckD-MSB Free
05/10/11 9:21 AM
profile icon
ChuckD-MSB Free
05/02/11 3:43 PM
profile icon
ChuckD-MSB Free
04/25/11 9:49 AM
profile icon
ChuckD-MSB Free
04/20/11 2:34 PM
profile icon
ChuckD-MSB Free
04/11/11 12:17 PM
profile icon
ChuckD-MSB Free
04/07/11 11:25 AM
profile icon
ChuckD-MSB Free
04/07/11 11:23 AM
profile icon
ChuckD-MSB Free
04/07/11 11:23 AM
profile icon
ChuckD-MSB Free
04/07/11 11:22 AM
profile icon
VONSTER1 Free
02/28/11 10:20 PM
profile icon
Joseph- Free
12/20/10 10:59 PM
profile icon
Joseph- Free
12/20/10 9:39 AM
profile icon
Joseph- Free
12/17/10 10:32 PM
profile icon
ChuckD-MSB Free
12/17/10 12:54 PM
profile icon
Joseph- Free
12/10/10 2:39 PM
profile icon
Joseph- Free
12/09/10 11:33 PM
profile icon
Joseph- Free
12/09/10 9:00 PM
profile icon
Joseph- Free
11/28/10 10:04 PM

TVI Pacific Inc. (TSE:TVI) RSS Feed

Followers
2
Posters
13
Posts (Today)
0
Posts (Total)
78
Created
09/22/06
Type
Free
Moderators

 

TVI Pacific Inc. (Public, OTCQX:TVIPF)

TVI Pacific Inc. (Public, TSE:TVI)

TVI Pacific Website       Google  Chart

 

Description:

TVI Pacific Inc. is a copper producer focused on the development, exploration and acquisition of precious and base metal mining projects in the Philippines. TVI plans to fast-track extension/expansion opportunities in proximity to the Canatuan Mine, accelerate development at the Balabag gold property and expedite exploration at the Tamarok copper-gold prospect. TVI also plans to continue exploration activities on its 1,240 km2 tenement package on the Zamboanga Peninsula that has the potential to host significant porphyry copper-gold, massive sulphide and epithermal gold deposits. In addition, the Company is evaluating value-enhancing joint venture or acquisition opportunities that will provide additional revenue streams.  They are currently listed on the OTCQX exchange.

Our four-part growth strategy is to:

  • Maximize profits through process optimization at our producing Canatuan Mine;
  • Exploit our Philippine advantage by focusing on projects in areas where we have long-standing, proven success; 
  • Capitalize on our near-term gold and copper development properties and expedite exploration on our high-impact, large deposit opportunities; and
  • Evaluate additional, value-enhancing joint venture or acquisition opportunities.

The Company's interest in the Canatuan Mine and its other Philippine assets are held through its affiliate, TVI Resource Development (Phils.), Inc. ("TVIRD").

* Current production
o 140 tpd Cu concentrates
o 2,230 tpd throughput

* Off-take agreement with MRI Trading AG for the duration of the mine life

* Mine life extension potential on surrounding tenements

 

Earnings:

TVI Pacific Year End Results Reinforce Solid Financial and Operational Performance   Link for EOY report

Key Financial Achievements for the Years Ended December 31, 2009 and 2008

- Increase in net revenue to $67,103,108 from $5,972,764

- Increase in operating cash flow to $21,661,992 from a deficit of $13,506,114

- Increase in net income to $18,322,345 from a net loss of $12,714,279

- 2009 production cash cost of $0.61 per copper equivalent pound

 

2010 Q-1 Report Highlights: Link to report                                                                                    Gross  Revenue   (in US$)

Shipment Number    Shipment Completion Date   Shipped (dry metric tonnes)                             Copper               Gold               Silver                Total
11                                 January 27, 2010                        5,076                                                6,899,834           637,991        742,416           8,280,241
12                                 March 4, 2010                            5,224                                                6,932,265           787,759       1,237,238         8,957,262
13                                 March 20, 2010                          5,214                                                6,931,765          882,179        1,161,632         8,975,576
 T O T A L                                                                     15,514                                              20,763,864        2,307,929     3,141,286         26,213,079

Subsequent to the period and up to the date of this document, the Company completed the following additional shipments:

14                                 May 5, 2010                                5,285                                                7,524,266            831,493       754,471            9,110,230


2010 Q-2 Report Highlights: Link to report                                                                                   Gross  Revenue   (in US$)      

Shipment Number    Shipment Completion Date   Shipped (dry metric tonnes)                           Copper               Gold               Silver                Total
11                                 January 27, 2010                       5,076                                                6,899,834          637,991         742,416          8,280,241
12                                 March 4, 2010                           5,224                                                7,015,147          778,392        1,444,089        9,237,628
13                                 March 20, 2010                         5,214                                                6,941,327          911,393         1,274,188        9,126,908
14                                 May 5, 2010                             5,285                                                7,433,147          922,340         783,279            9,138,766
15                                June 22, 2010                            5,248                                                6,048,503          651,715         511,842            7,212,060
T O T A L                                                                     26,047                                              34,337,958        3,901,831      4,755,814        42,995,603

 

Subsequent to the period and up to the date of this document, the Company completed the following additional shipments:

16                                 August 7, 2010                         5,238                                               6,509,333        658,125           587,016           7,754,474

 

2010 Q-3 Report Highlights: Link to report   

Shipment Number    Shipment Completion Date   Shipped (dry metric tonnes)                           Copper               Gold               Silver                Total
11                                 January 27, 2010                       5,076                                                6,899,834          637,991         742,416          8,280,241
12                                 March 4, 2010                           5,224                                                7,015,147          778,392        1,444,089        9,237,628
13                                 March 20, 2010                         5,214                                                6,941,327          911,393         1,274,188        9,126,908
14                                 May 5, 2010                             5,285                                                7,433,147          922,340         783,279           9,138,766
15                                June 22, 2010                            5,248                                                6,048,503          651,715         511,842           7,212,060

16                                August 7, 2010                          5,238                                                6,509,333          658,125           587,016         7,754,474

17                                September 24, 2010                   5,290                                                6,727,478          659,519          805,169           8,192,166

T O T A L                                                                       36,575                                              47,578,771       5,182,051       6,276,885       59,037,707

Subsequent to the period and up to the date of this document, the Company completed the following additional shipment:

18                               November 6, 2010                   5,375                                                  7,163,709              832,780         921,408        8,917,897

  

Quick Facts:

- Outstanding shares: 487,950,000  (TSE:TVI / OTCQX:TVIPF)
- Market cap: $63,427,000 <-- Revenue from 2009 alone was $67 million!! And nearly $70 million in revenue expected for 2010.  How does that sound for being undervalued!?
- 52 week range: 0.06 – 0.14

* TVI has an extremely informative website and a very responsive IR department, including a Facebook page in which Rhonda Bennetto quickly responds to investors’ questions.

 

 The Current Presentations being shown to the funds....you MUST check these slides out!!!  

LINK FOR NOVEMBER 2010 PRESENTATION.

 

Shipping Schedule:

September 24, 2010              Seventeenth Shipment Completed
November 6, 2010                  Eighteenth Shipment Completed

December 19-25, 2010           Nineteenth Shipment Expected

It is anticipated that future concentrate shipments of approximately 5,000 dmt each will occur every six weeks depending on ship availability and marketing arrangements.


The current mine that is producing the shipments every six weeks, and bringing in approximately $8MM each shipment, is the Canatuan Mine...

Canatuan Mine:

The Canatuan Mine is a polymetallic mine located in the province of Zamboanga del Norte on the island of Mindanao in the Philippines. The Canatuan Mine initially produced gold and silver doré from gossan ore, the oxidized cap of a volcanogenic massive sulphide deposit. The gossan ore was mined using open-pit methods and processed through conventional carbon-in-leach and Merrill Crowe circuits. The underlying primary sulphide portion of the deposit, hosting copper and zinc, was largely exposed during the mining of the gossan deposit.

TVI commenced the construction and development of the Canatuan Sulphide Project in early 2007. The Sulphide Project included the construction of a new plant to produce copper concentrates from the sulphide portion of the deposit, as well as the staged construction of a separate tailings dam. The plant construction was completed on time and under budget and the project began commissioning in mid-November 2008.  Commercial production was declared on March 1, 2009, when copper concentrate inventory levels surpassed the 5,000-tonne shipping threshold.


The copper concentrates produced at the Canatuan Mine are shipped to a coastal warehouse facility at Santa Maria Port approximately 30kms away. From the port around 5,000 tonne loads of concentrate are shipped according to a 5-year offtake agreement with MRI Trading AG.

 

According to 43-101 Technical Report for the Sulphide Resources at the Canatuan Project of TVI Pacific Inc. prepared by P.J. Lafleur Geo-Conseil Inc. and filed on SEDAR on April 7, 2008, the Canatuan Mine’s initial mineral reserves are estimated to be 3.0 million tonnes @ 1.35% copper, 1.05% zinc, 0.75 grams/tonne gold and 36 grams/tonne silver.


They've been having a bit of a rough time getting their zinc circuit into full production, but in production it will be!  Here is the latest guidance on that...

Zinc Circuit Timeline:

  • In the early stages of the zinc circuit commissioning in May-June this year, it was found that acceptable copper/zinc separation was not being achieved using the 'recipe' initially chosen. As a result, the zinc circuit was temporarily suspended on August 13 and additional metallurgical testing was carried out to determine a better 'recipe' for metal separation and recovery.
  • Extensive metallurgical testing of the Canatuan ores has been conducted by reputable third parties and an optimum 'recipe' involving combinations of reagents and plant configurations for the process flow sheet has been decided.
  • The company expects to resume on-site testing in early November. However, it is expected that commissioning of the revised process flow sheet will continue for some time until acceptable copper/zinc recovery is achieved.

 

The one and only major negative with this company is the mine life being around 2.6 years left.  However, they have been aggressively attacking further developments to boost this number up several years.  First off, TVI Pacific Acquired Rights to Exploration Property Near Canatuan Mine, Including Drill-Ready Prospects  

This was a key acquisition the company was able to pull off, and is now simply known as the Siennalynn Project…

 The Siennalynn Project is a Copper-Zinc-Gold property that covers a total of 2,000 hectares (4,900 acres) on the Zamboanga Peninsula of Mindanao Island, Philippines. Highlights of the property include:

  • Hosts a number of drill-ready exploration prospects
  • Drilling commenced on October 19, 2010
  • Within short trucking distance of Canatuan mill site
  • Potential ore source to extend and expand Canatuan operations to be drilled before summer 2011

TVIRD has reinterpreted previous exploration data on the property (conducted by major international mining companies) and conducted recent field work. These efforts have identified two types of exploration targets: near- surface showings that could provide material for immediate trucking to the Canatuan mill site and deeper, potentially major hydrothermal deposits. These targets could add additional ore sources and extend and expand our mining operations at Canatuan.

 Siennalynn is underlain by volcanic intrusive rocks that contain epithermal and mesothermal auriferous quartz-sulphide veins. These veins have been the target of small-scale gold operators over the past few years. Samples from the small scale mine workings at the Pinili Prospect show grades of up to 3.62% copper, 15.59% zinc and 2.40g/t gold.

Exploration data, including airborne and ground geophysical data that was acquired along with the property, have been re-interpreted by our geologists as well as geophysical consultants. Several immediately drillable prospects; namely, Pinili, Nanao West and Nanao East, lie within a short trucking distance of about 25 kilometres (15.5 miles) of our operating mine at Canatuan. The primary target, the Pinili Prospect, where the small-scale, high-grade copper mining has taken place, is currently being drilled to assess the near-surface mineralization.


So with this, the company has already began to drill and is diligently working towards producing a full 43-101 to ‘prove’ their reserves and essentially extend the mine life.

  

The second thing to help boost even further mine life extension that the company is doing, is as such…

TVI controls an extensive 352 km2 land package surrounding the Canatuan Mine that the Company refers to as the Greater Canatuan Tenement area.  The Canatuan orebody is a volcanogenic massive sulphide orebody and deposits of this type rarely occur in isolation. As such, TVI believes the potential exists for continuing extension developments, or creating “mining camps”, within the Canatuan Tenements. Initial exploration on the properties suggests that the land package includes a 40+ kilometre strike length of the type of mineralization that hosts the Canatuan orebody. Management of TVI believes that it is likely that similar Canatuan-style deposits exist within the area of the Canatuan Tenements. Any mineable ore located in the area could be economically transported to the existing Canatuan plant for processing, which would extend the life-of-mine beyond the current estimate.

In January 2010, the Company established a partnership and strategic alliance with DMCI-CERI (“DMCI”), a subsidiary of DACON Corporation. DMCI already has long standing forestry and agribusiness operations in the area. They currently maintain the roads and provide security services through their established camps. By partnering with DMCI, the costs on the exploration project going forward are expected to be significantly reduced.

In June 2010, the Company and DMCI finalized the initial work program leading to the exploration, development and production of mineral deposits in the Greater Canatuan Tenement Area. The Partners have initiated three main activities under the work program: (a) obtaining Free Prior Informed Consent from the affected indigenous communities in the area; (b) completing an airborne geophysical survey; and (c) completing the application for the Exploration Permit Application. TVI has successfully secured the endorsement of the local council and municipal authorities for the program. Once the Free Prior Informed Consent process is completed, all requirements will have been fulfilled for the issuance of the Exploration Permit. Helicopter-supported geophysical surveys are planned for September 2010.


The Helicopter-supported survey was completed in October and further drilling will soon commence.

 

So how about other major events for 2011…Well rather then drill their way to prove reserves without making cash, they have already produced a full 43-101 that shows outstanding prospects.  They furthermore just completed another round of drilling to ‘prove' minimum 50K oz’s of gold to move forward with a bootstrap mine.  This means they will get to making money on Balabag to fund the project themselves rather then having to take out a high cost loan to pay for the project.  As they make money they can further develop the mine and continue to drill to prove even further reserves. 

Balabag Gold Project

 

 


  • Epithermal Gold/Silver deposit
  • Proposed open pit & underground mine
  • Mineral resource and scoping study completed
  • Mineralized zones open laterally and at depth
  • Evaluating low capital, staged development

The Balabag Gold Project is a near-term development project straddling the provinces of Zamboanga Del Sur and Zamboanga Sibugay on the island of Mindanao in the Philippines. The Balabag property covers an area of approximately 52 km2 and is situated approximately 75 kilometres east-northeast of the Canatuan Mine.

In 2008, TVI commissioned Genivar Limited Partnership, an independent mining engineering consulting company, to conduct a scoping study on the Balabag property. The purpose of the scoping study was to assess the mining potential of a stand-alone commercial scale mining operation centred on the currently delineated Balabag deposit and to provide an order of magnitude of its economic potential. 

TVI has initiated an internal scoping study for "Bootstrap" mine development and is expanding the drilling program at the Balabag epithermal gold project:

  • Recent assay results from the initial 30 hole Phase 1 drill program, completed in late July 2010, support continued drilling at Balabag to further define the resources.
  • Based on these results, TVI has launched an internal scoping study and expects to come to a decision regarding a "Bootstrap" mine development plan by Q1 2011. Under the "Bootstrap", or phased development concept, an initial "starter" plant would be constructed, drawing ore feed from the core area, with the plant and mine being expanded in stages from internal cash flow to the extent that the resource supports. The intent of the internal scoping study is to evaluate the engineering, the environmental and social requirements, the financial viability and the overall feasibility of the starter operation.
  • Drilling has been extended to approximately 55 new holes (11 of which have been drilled since initiation in late July). As the resource evaluation continues, more drill holes may be required to support the scoping study and development evaluation.
  • The drilling program includes further infill drilling in the core area of the Tinago vein and step out drill holes in the downdip mineralized zones identified. The program also includes infill drilling at the Miswi  and infill and extension drilling at the Lalab vein.

The Company intends to accelerate the environmental and social baseline studies required to provide program and cost data for the scoping study and is preparing for subsequent regulatory approval applications. A substantial amount of work has already been done in this regard.

 

 

 

Taking a look at the map above, you will see the pre-2010 drill results, which has documentation to support…

Scoping Study

43-101 Tech Report

And then you see the 2010 results.  The Scoping study report is due out around Q-1 next year with the full 43-101 to come mid 2011.

It is our assumption the further drilling to commence, is to also assist with the placement of the bootstrap mine they’re going to put up.

 

If all this isn't enough, then take a look at what they have in store 2-3 years down the road called Tamarok....this project is going to be HUGE!!!

 

TVI Pacific is severely undervalued and deserves a look.  Do your D/D and you will learn the story this company has to share that will soon become revealed by many others at a much higher price.

 

Board Info
Posts Today
0
Posts (Total)
78
Posters
13
Moderators
New Post