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I got permission from the author of this writeup to post here, which is something great to keep up with. François has been spot on in so many ways with regards to where the company stands and what everyone should expect next. I have yet found a better author following the stock...few grammar errors, but we all make them. Point is, the facts are and have been spot on! The current write up is great, but some of the past ones are even better as there wasn't much for him to update from the Q-3 report this time around.
Thanks François!!
http://thestockstarsearch.blogspot.com/
MD&A Power Point from last week - 15Nov. Must read!
http://www.tvipacific.com/Theme/TVI/files/doc_financials/TVI_Q3_2010.pdf
Thank you Chuck, just goes to show how well they're doing things the right way.
TVI Pacific Receives Multiple Awards for Excellence in Environment and Safety
7:31a ET November 23, 2010 (Market Wire)
TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF) ("TVI" or "the Company") is pleased to announce that its Philippine operating affiliate, TVI Resource Development (Phils.), Inc. ("TVIRD"), has received multiple awards from the Philippine government and a leading mining industry association at the Annual Mine Safety and Environment Conference held on November 20, 2010.
-- Platinum Achievement Award, Surface Mining Category
-- Safest Mines Awards, Concentrator Category
-- Mining Forest Award, Metallic Category
-- Health and Safety Award
TVIRD was presented with a Platinum Achievement Award, Surface Mining Category, by the Presidential Mineral Industry Environmental Award ("PMIEA") Selection Committee led by the Department of Environment and Natural Resources ("DENR"), as well as officials from three industry organizations spearheaded by the Chamber of Mines of the Philippines.
PMIEA recognizes outstanding levels of dedication, initiative and innovation in the pursuit of excellence in environmental management by exploration, mining and other related entities involved in various aspects of mineral utilization. The scope of environmental management includes programs/projects being implemented for the environmental protection and enhancement of mining areas, development of the host and neighboring communities, land use improvement, exploration and mine site rehabilitation, and final decommissioning.
TVIRD was also named first runner-up in the Safest Mines Awards, Concentrator Category, by the Philippine Mine Safety and Environment Association and the Mines and Geosciences Bureau; and third runner-up in the Mining Forest Award, Metallic Category, by the DENR.
The Safest Mines Award supports the multi-sector campaign against occupational and environmental hazards in mining and its related operations, and the Mining Forest Award recognizes mineral firms' excellence in the management of mining forests, specifically in the areas of development, nursery operations, maintenance and protection, biodiversity consideration, as well as other environmental factors.
In a separate program sponsored by the Department of Labor and Employment, TVIRD was presented with the Gawad Kaligtasan at Kalusugan ("GKK" Health and Safety Award). This national award is in recognition of outstanding achievements by establishments and individuals in responding to the safety and health needs of workers, workplaces and communities.
The GKK award is the first to be given to a safety practitioner in TVIRD's operating region, taking first place over fifty-one other nominees in the country.
"These awards speak volumes of the commitment, loyalty and expertise of everyone at TVI in all areas of our operation," stated Clifford M. James, President & Chief Executive Officer. "It shows that we really do believe and practice responsible mining. These are remarkable achievements for TVI."
Please click here to view more on these awards on our website
About TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF)
TVI Pacific Inc. is a publicly-traded copper producer focused on the production, development, exploration and acquisition of precious and base metal mining deposits in the Philippines. The Company's interest in the Canatuan Mine and its other Philippine assets are held through its affiliate, TVI Resource Development (Phils.), Inc.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
Contacts:
TVI Pacific Inc.
Rhonda Bennetto
Executive Director Investor Communications
403.265.4356
rhonda.bennetto@tvipacific.com
TVI Pacific Inc.
Ian McColl
Investor Relations Analyst
403.265.4356
ian.mccoll@tvipacific.com
Connect With Us www.tvipacific.com
Follow us on Twitter www.twitter.com/tvipacific
"Like" us at www.facebook.com/tvipacific
SOURCE: TVI PACIFIC INC.
mailto:rhonda.bennetto@tvipacific.com
mailto:ian.mccoll@tvipacific.com
http://www.tvipacific.com
http://www.twitter.com/tvipacific
http://www.facebook.com/tvipacific
November Presentation.
This is a MUST view on TVI Pacific. It's their most up to date and current slide show that's being briefed as they hit the road. Great stuff, and I love the new format they're using!
http://www.tvipacific.com/Investors/Presentations/default.aspx
Thanks Chuck! Just goes to show what kind of a stand-up company this truly is!! As I've said before, they're not just a part of the Philippines, they're a leader within!
TVI and The Maple Tree Foundation (through a fundraising effort by the students of Mount Royal University in Calgary) partner up for a medical mission to a remote island in the Philippines. Click here to read the story, which includes a short video. Personally I’m proud to be a shareholder.
http://www.tvipacific.com/Investors/news/News-Release-Details/2010/Friendships_Forged_Through_Medical_Care-/default.aspx
Q-3 Report!
Here is the quick look at the report, and below I will post the link for the entire 44 page report.
CALGARY, ALBERTA -- (MARKET WIRE) -- 11/15/10 -- TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF) ("TVI" or "the Company") today announced unaudited, consolidated financial and operational results for the three and nine months ended September 30, 2010.
For a thorough explanation of the points noted in this press release, shareholders are encouraged to read the interim consolidated financial statements and management's discussion and analysis for the quarter ended September 30, 2010, filed with certain securities regulators in Canada on November 15, 2010, and available on our web site (www.tvipacific.com) and SEDAR (www.sedar.com).
Quarter ended Quarter ended
Financial Snapshot Sept 30, 2010 June 30, 2010
Net Revenue $15.7 mm $16.5 mm
Free cash flow (1) $4.4 mm ($0.6) mm
Net Income (loss) (2) $2.9 mm ($1.1) mm
Basic Earnings (loss) per share $0.006 ($0.002)
Production cash cost (US$/Cu lb eq) $1.02 $1.13
Cash Balance (3) $4.4 mm $6.2 mm
Average copper price received (US$/lb) (4) $3.30 $3.22
(1) Free cash flow is a non-GAAP measure that represents cash generated
from the operating activities before changes in working capital, less
cash expenditures on property and equipment
(2) Net income in Q2 was reduced as a result of one-time penalties and
related charges incurred in the early termination of the Term Facility
(3) Cash Balance as of November 12, 2010 was $8.2 million
(4) Average copper price received for shipment 18 on November 6th was $3.77
(US$/lb)
Net revenue for the periods ending June 30 and September 30, 2010 were lower than previous quarters for two reasons:
-- A change in the shipment schedule, from every 4 weeks to approximately
every 6 weeks, was implemented to allow for the planned interruptions in
production that were a result of the commissioning process of the zinc
circuit; and
-- In order not to exceed the maximum zinc content limits in copper
concentrates, as specified by the offtaker requirements, ore with lower
grades of zinc and copper had been processed at Canatuan starting in
May. These lower ore grades resulted in lower revenues for the past six
months. It is expected that with the successful commissioning of the
zinc circuit, higher grade ores will again be processed.
Net income of $2.9 million was realized in Q3 compared to a net loss of $1.1 million in Q2, 2010, an increase of $4.0 million quarter over quarter. The decline in Q2 was primarily the result of payment of one-time charges relating to the early repayment of the Term Facility. The increase in Q3 was partially offset by modestly lower revenue due to slightly reduced quantities of copper, gold and silver shipped during the quarter.
Quarter ended Quarter ended
Net Income Breakdown Sept 30, 2010 June 30, 2010
(thousands) (thousands)
Reported net income (loss) $2,911 ($1,141)
One-time finance charges - $5,151
Exploration costs $1,090 $775
Amortization and accretion $3,095 $2,746
Earnings before one-time finance charges,
exploration costs and amortization and accretion $7,096 $7,531
Shipments
-- Two shipments of copper concentrates were completed in Q3, 2010, for a
total of 10,528 dry metric tonnes. The average copper price received was
US$3.30 per lb for total gross revenue of US$16.13 million, which is
comparable with the previous quarter.
-- Subsequent to the end of the quarter, on November 6, 2010, an eighteenth
shipment of copper concentrate was completed at an average copper price
received of US$3.77 per lb for gross revenue of US$8.9 million, bringing
total gross revenue year to date to US$68.3 million.
Short-Term Debt Facilities, Letter of Credit Facilities and Current Cash
Position
-- The Company has short-term loans from a major Philippine bank. As at
September 30, 2010, the total outstanding was US$7.6 million (CDN$7.8
million):
-- The Company has a US$3.3 million revolving loan that is payable in 180
days, bearing interest at 4.3% per annum. This facility was subsequently
paid on October 15, 2010. On the same day, the same facility was renewed
and was immediately utilized by the Company at a lower interest rate of
3.3% per annum subject to quarterly re-pricing. The renewed facility is
payable in 180 days.
-- In addition, TVI has two short-term loan facilities. The first amounts
to US$3.0 million and is payable over four equal quarterly payments,
bearing interest at 4.33% per annum. The scheduled quarterly payments in
the amount of US$750,000 each were made in July and October 2010,
respectively. The second amounts to US$2.0 million and is payable in 360
days, bearing interest of 4.54% per annum.
-- The Company also has letter of credit facilities that accrue interest at
a combined interest rate of 8.25% per annum and are payable over four
equal monthly instalments starting 90 days from the withdrawal dates.
The funds are used in the normal course of business operations. The
total amount payable to the bank at September 30, 2010, was US$821,735
(CDN$846,223).
-- As of September 30, 2010, the Company held $4.4 million in cash. As of
November 12, 2010, the Company held $8.2 million in cash.
Production and Costs
-- The average mill throughput at the Canatuan operations in Q3, 2010
increased to 2,375 dry metric tonnes per day from the daily average
throughput of 2,064 dry metric tonnes per day in Q2, 2010. This was made
possible due to the higher plant availability achieved in Q3, 2010.
Plant availability in Q2, 2010 was lower since scheduled shutdowns
relating to the zinc circuit commissioning were implemented. Recoveries
for all the metals also increased with copper recovery posting a quarter
over quarter increase of 7.02% (from 81.41% in Q2 to 88.43% in Q3).
Consequently, production cash cost per Cu lb eq decreased from US$1.13
in Q2 to US$1.02 in Q3.
Outlook
-- In the early stages of the zinc circuit commissioning in Q2 of this
year, it was found that acceptable copper/zinc separation was not being
achieved. Since that time, 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. As of the
date of this news release, the Company has resumed on-site testing,
however, it is expected that commissioning of the revised process flow
sheet could continue for some time.
-- A Phase 2 drilling program of 55 new holes began at the Balabag gold
project on July 26, 2010. The program includes further infill drilling
in the core area of the Tinago vein and step out drilling in the downdip
mineralized zones identified in Phase 1. Phase 2 also includes infill
drilling at the Miswi vein and infill and extension drilling at the
Lalab vein. An internal scoping study has been launched and TVI expects
to come to a decision regarding a "Bootstrap" mine development plan in
Q1, 2011. Social and environmental baseline studies are currently
underway along with additional metallurgical testing.
-- TVI has begun drilling at the recently acquired, highly prospective
Siennalynn property. It is anticipated that Stage 1 drilling will be
completed by mid-Q1, 2011 with assays and evaluations completed by the
end of the same quarter. Preparation is ongoing for the Stage 2 drill
program. The extent of this additional drilling will be determined as
progress is evaluated during Stage 1.
-- Helicopter-supported geophysical surveys have been initiated covering
all TVI's tenements in the Zamboanga peninsula. As of October 31, 2010,
the airborne surveys have flown over 5,093 line-kilometres (3,165 miles)
acquiring magnetics/radiometric data covering 84,000 hectares (207,568
acres). Part 1 and Part 2 of the airborne surveys are expected to be
completed by early 2011.
-- Drilling is expected to begin on identified targets on the Tamarok
copper-gold prospect in early 2011.
-- The current fleet of seven drill rigs will be augmented by the addition
of seven of the Company's rigs that will be returned from Kyrgyzstan
during Q1, 2011. These rigs will be used on the Siennalynn, Balabag and
Tamarok exploration projects.
Key Financial Figures Quarter Over Quarter
(in thousands of
CDN dollars except
per share Quarter Ended Quarter Ended Quarter Ended Year to date
information) Sept 30, 2010 June 30, 2010 March 31, 2010 Sept 30, 2010
Net revenue 15,666 16,453 26,184 58,303
Operating cash flow 378 1,724 14,811 16,913
Free cash flow(1) 4,378 (555) 12,208 16,031
Net income (loss) 2,911(2) (1,141) 8,390 10,160
Earnings (loss) per
share (basic) 0.006 (0.002) 0.018 0.021
Free cash flow per
share(1) 0.009 (0.001) 0.025 0.033
(1) See financial statements for the reconciliation from operating cash flow
to free cash flow. Free cash flow is a non-GAAP measure. See MD&A for
definition of this non-GAAP measure.
(2) Net of $22,042 share of the non-controlling interests. Please see the
"Non-controlling interests" section in the MD&A.
Key Production Figures Quarter Over Quarter
Quarter ended Quarter ended Quarter ended Year to date
Sept 30, 2010 June 30, 2010 March 31, 2010 Sept 30, 2010
Copper pound
equivalent produced
(thousand lbs) 6,249 5,036 8,841 20,127
Copper
produced (thousand
lbs) 5,140 4,111 6,930 16,182
Gold produced
(oz) 1,379 1,184 2,321 4,884
Silver
produced (oz) 97,676 76,571 220,400 394,647
Key Operation Figures Quarter Over Quarter
The following table details some key operating statistics for the Canatuan Sulphide Mine for the three month periods ended September 30, June 30 and March 31, 2010.
Quarter ended Quarter ended Quarter ended Year to date
Sept 30, 2010 June 30, 2010 March 31, 2010 Sept 30, 2010
Total tonnes
processed 218,525 187,845 203,480 609,850
Average tonnes
processed per day 2,375 2,064 2,261 2,234
Ore copper grade (%) 1.21 1.22 1.75 1.39
Copper recovery (%) 88.43 81.41 88.14 86.42
Concentrates
produced (dry
weight - t) 12,680 10,110 15,826 38,616
Average daily
concentrates
produced (dry
weight - t) 138 111 176 141
Concentrate copper
grade (%) 18.39 18.45 19.86 19.01
Concentrate gold
grade (g/t) 3.38 3.64 4.56 3.93
Concentrate silver
grade (g/t) 239.60 235.57 433.15 317.87
Production cash cost
per Cu lb eq
(US$)(1) (2) 1.02 1.13 0.56 0.84
Total cash cost per
Cu lb eq (US$)(2) 1.36 1.58 0.94 1.23
Total cash cost per
Cu lb eq, net of by-
products (US$)(2) 0.91 0.95 0.32 0.66
Offtake
--------------------
Copper concentrates
shipped (dry weight
- t) 10,528 10,533 15,514 36,575
Cu lb eq shipped 5,180,122 5,458,367 8,546,480 19,184,969
Average copper price
received (US$/lb) 3.30 3.22 3.28 3.27
(1) Excludes selling expenses.
(2) Production cash cost per Cu lb eq, Total cash cost per Cu lb eq and
Total cash cost per Cu lb eq, net of by-products, are non-GAAP measures.
Please see definitions in the "Non-GAAP Measures" section of the MD&A.
About TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF)
TVI Pacific Inc. is a publicly-traded copper producer focused on the production, development, exploration and acquisition of precious and base metal mining deposits in the Philippines. The Company's interest in the Canatuan Mine and its other Philippine assets are held through its affiliate, TVI Resource Development (Phils.), Inc.
Connect With Us www.tvipacific.com
Follow us on Twitter www.twitter.com/tvipacific
"Like" us at www.facebook.com/tvipacific
IMPORTANT INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "schedule" and similar expressions.
Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information received from or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from or disseminated by third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as the volatility of prices for precious metals and base metals; commodity supply and demand; fluctuations in currency and interest rates; inherent risks associated with the exploration and development of mining properties; ultimate recoverability of mineral reserves; timing, results and costs of exploration and development activities; availability of financial resources or third-party financing; new laws (domestic or foreign); changes in administrative practices; changes in exploration plans or budgets; and availability of equipment and personnel. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this news release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.
Forward-looking information respecting future operating information concerning the sulphide operation at Canatuan (including the processing of copper and zinc concentrates and projected production, cash costs, cash flows and income) is based upon current mining and processing activities at Canatuan, the current throughput of the sulphide plant and anticipated expansions in throughput capacity, prior experiences of management with mining and processing at Canatuan, the estimated copper and zinc mineralization of the sulphide zone at Canatuan, the current development and operating plan for Canatuan, and the Company's current budget and overall strategy for Canatuan, which are all subject to change. Forward-looking information relating to the nature and timing of exploration activities (including drilling) on the near-mine tenements, EXPA 61, Siennalynn, Balabag, Tamarok, Tapisa, Bonbon and the Company's other tenements in the Philippines are based upon the results of prior exploration activities, current mining and exploration activities, discussions with third parties and the Company's current budget and overall strategy, which are all subject to change. In certain cases, the anticipated timing of exploration activities in the Philippines is dependent upon the receipt of FPIC from local communities and regulatory approvals from government authorities in the Philippines. Forward-looking statements regarding the nature and timing of airborne geophysical surveys over Canatuan and the North Zamboanga Tenements are based on discussions held to date with the international service provider, the timing of mobilization of equipment, the timing of regulatory approvals from government authorities in the Philippines, the results of prior and current exploration activities, and the Company's overall plans, budget and strategy, which are all subject to change.
The forward-looking statements of the Company contained in this news release are expressly qualified, in their entirety, by this cautionary statement. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this news release to reflect subsequent events or circumstances, except as required by law.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
Contacts:
TVI Pacific Inc.
Rhonda Bennetto
Executive Director Investor Communications
403.265.4356
rhonda.bennetto@tvipacific.com
TVI Pacific Inc.
Ian McColl
Investor Relations Analyst
403.265.4356
ian.mccoll@tvipacific.com
www.tvipacific.com
Link for report... http://www.tvipacific.com/Investors/news/News-Release-Details/2010/TVI-Pacific-Provides-Third-Quarter-Financial-and-Operational-Results1123248/default.aspx
Entire report link...
http://www.tvipacific.com/Theme/TVI/files/doc_financials/TVI_Q3_2010.pdf
Zinc falls 4.7%, Copper Drops From Record on LME, by Limit in Shanghai, on China Tightening
By Glenys Sim - Nov 12, 2010 12:14 AM PT
Copper tumbled from a record in London and dropped by the daily limit in Shanghai, as some investors deemed the rally excessive on concern that China may step up measures to tighten economic policy, potentially curbing demand for industrial metals. Other base metals also slumped.
Copper for three-month delivery on the London Metal Exchange fell as much as 2.9 percent to $8,575 a metric ton and traded at $8,579 at 4:09 p.m. Singapore time. The contract, which reached a record $8,966 a ton yesterday, is down 0.9 percent this week.
“The rally before was excessive so we’re seeing an equally strong pullback,” Li Rong, chief analyst at Great Wall Futures Co., said from Shanghai. “Speculation is rife that China may hike interest rates again as early as this evening.”
December-delivery copper on the Comex in New York fell as much as 2.9 percent to $3.911 a pound, while Shanghai futures dropped the daily 5 percent limit to 65,640 yuan ($9,899) a ton.
“It’s an aggressive decline across the board as longs liquidate at the end of a week which saw a phenomenal rise in prices,” Rao Zhi, an analyst at Yunchen Futures Co., said from Yunnan. “The longer-term positive fundamentals, especially for copper, remain intact and the recovery story hasn’t changed.”
Zinc led declines on the London Metal Exchange, falling as much as 4.7 percent, the most since Sept. 9, to $2,422.50 a ton. China sold almost all of the 50,000 tons of zinc ingots it offered at a state auction on Nov. 9 for an average price of 19,511 yuan a ton, the National Development and Reform Commission said today.
China Tightens
China will raise interest rates by 25 basis points before the end of the year after producer and consumer prices took both markets and the government “by surprise,” HSBC Holdings Plc. said today. Consumer prices gained a more-than-forecast 4.4 percent from a year earlier in October, the statistics bureau said yesterday.
Policy makers raised reserve requirements for some banks twice yesterday, taking the total increase to 100 basis points for a few lenders, said two people with direct knowledge of the situation. China last month raised interest rates for the first time since 2007 to cool inflation and has taken multiple measures since April to curb property speculation.
Aluminum in London fell 1.5 percent to $2,420 a ton, lead declined 3.3 percent to $2,525 a ton, nickel decreased 2.5 percent to $23,400 a ton, and tin slumped 3.2 percent to $26,125 a ton.
http://www.bloomberg.com/news/2010-11-12/copper-futures-drop-on-concern-china-to-boost-measures-to-combat-inflation.html
I would like to think this would run up a few cents before earnings (PRIOR to market opening on Monday 15NOV...BTW) as well. After which, I'm confident people will realize the true potential to this gem and will have to pay a much higher price to join the ride. This is not a quick pop trade and I don't want anyone to get confused with that, this is a long term future growth play that is in the early stages to major growth...and that growth will become realized after the earnings is released on 15Nov.
And if you don't believe me this remains a dirt cheap stock, then do your own DD and check out the past performance reports from this stock. Here is the link where you can find Q2...Q1...and a slew of other information. DON'T LET THIS ONE GET BY!!
http://www.tvipacific.com/Investors/DownloadCentre/default.aspx
Respectfully,
Joseph-
Fair Market Price of C$0.31
Fair Market Valuation Summary - 2010-Nov-09
Projected fair market stock price for TVI Pacific Inc. at the close of trading on 2010-Nov-09 was C$0.31. The actual closing stock price was C$0.125.
Note: An updated NI43-101 report for Balabag is expected in the October/November timeframe. Based on the September news Positive Results From Balabag Gold Project Drill Program, which detailed gold grades from 1.49 g/t to 14.01 g/t and silver grades of 49.18 g/t to 315.07 g/t, over excellent true widths ranging from 3.64m to 7.32m, the expected NI43-101 report (October/November) has a high probability of yielding a very significant increase in the company's total in situ gold and silver with a resultant significant increase in fair market valuations presented in this report.
At the close of trading, the current and projected Market Capitalization per ounce of Gold Equivalent for TVI Pacific Inc., were:
*
current market valuation: US$85.21 per ounce of Au Eq.
*
projected fair market valuation as a gold producer: US$274.06 per ounce of Au Eq.
o
TVI Pacific Inc. in situ metal value is approximately 41% from gold and 23.2% from silver with the rest from copper and zinc.
o
The projected fair market capitalization per ounce of gold equivalent has been set at 70% of valuation on the Gold Producer Valuation line to discount copper and zinc metal values.
The expected valuation change is outlined in the chart below. The market capitaliztaion per ounce of gold equivalent for TVI Pacific is expected to increase from the February 3, 2010 valuation to the projected valuation (projected valuation is 70% of what the valuation would have been on the Gold Producer Valuation Line. That is, the Gold Producer Valuation line is defined by the market fundamentals of Agnico-Eagle (87.1% gold and 7.9% silver) and Kinross (91% gold and 2.8% silver) both of which have around 90% of the in situ metal value from gold and silver.
TVI Pacific Valuation Change Estimate
Projected fair market stock price for TVI Pacific Inc. is derived using the projected fair market valuation at start of production of US$274.06 per ounce of Au Eq (as derived above) and the following assumptions:
*
Risk Premium: 20% applied to the capital expenditure to bring the Balabag property into production. This blog assumes Base Case 1, as detailed on p. 6 of 212 in SCOPING STUDY OF THE BALABAG PROJECT
*
Discount Factor: 5% -- set to cover account for the time gap of Balabag coming on line. This figure is set at just 5% since the Canatuan mine, which is larger, is already in production.
The discounting of the future gold metal prices after the start of production are already fully accounted for in the Gold Producer Valuation Line which is derived from current day market prices and company fundamentals.
Discussion
The supporting model and the calculations used to produce the projected fair market stock price are detailed in Fair Market Price Calculations.
The discounting applied to TVI Pacific Inc. is consistent with the discounting the current market applies to Yamana Gold (YRI on the valuation chart). Yamana's in situ metal value is approximately 33% from gold and the rest from copper and other base metals. As a result, Yamana (YRI) falls well to the left of the Gold Producer Valuation Line in the current market.
http://www.goldminerpulse.com/blogs/tvi-pacific-valuation.php
Siennalynn Project
Just to bring up this point again...I mentioned the major thorn in the heel to these guys finally taking off running is the current mine life at Canatuan. It currently sits under 3 years but with the addition of the Siennalynn project (which is a short truck ride - aprx 15 miles - away from the current mill) this will more than double mine life. The next major announcement we're waiting on is a 43-101 on that project to prove this mine life extension and then focus more efforts on Balabag. Next year will be a big one for TVI Pacific. So if you're not familiar with the project, here is a breakdown right off their website. If you want all the pretty pictures to go with it, which some help make the text make sense, then go to their website at http://www.tvipacific.com/Operations/Exploring/Siennalynn/default.aspx
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.
Exploration on the property is planned in two stages:
Stage 1 Drill Program
Stage one began in October 2010 and will consist of a total drill program of about 1,200 metres (3,900 feet) to assess the extent and quality of the near-surface mineralization. This program calls for seven holes at the Pinilli Prospect (500 metres / 1,600 feet) and one hole each at the Nanao West and Nanao East Prospects (700 metres / 2,296 feet).
Stage 2 Drill Program
A second stage exploration program of 3,000 metres (9,842 feet) of exploration drilling is planned in mid-2011 to test prospects that could host deeper hydrothermal porphyry copper targets. These prospects include Bailos, Abueva, Tatfu, and Rodrige.
Geology
The property is underlain by volcanic intrusive rocks which contain epithermal and mesothermal auriferous quartz-sulphide veins. These veins have been the target of small-scale gold operators over the past few years.
Near Surface Targets for Immediate Drill Program
Clast-supported hydrothermal breccias containing copper-zinc-lead (Cu-Zn-Pb) sulphides and gold (Au) within areas of low-temperature alteration are exposed in historical excavations at Siennalynn. Grades of up to 3.62% Cu, 15.59% Zn and 2.40g/t Au in the breccia lodes located in the northern part of the property have been identified as possible near-term feed for the Canatuan plant. This area, called the Pinili Prospect area will be the subject of the immediate drill program.
TVIRD mapping recently completed at the Pinili Prospect Adit 2 revealed that the main mineralized breccia lode strikes WNW with steep dip directions swinging from NE to SW. It is exposed for at least 85 metres (278 feet) along the drift of Adit 2. The breccia lode is a structurally-emplaced body at least 2 metres (6.5 feet) wide where mapped, but the full width is not exposed in Adit 2 and may therefore be greater. A low grade mineralized alteration halo also exists around the main breccia lode. Where it was exposed at a crosscut within Adit 2, an 8 metre (26 feet) thick zone grading 0.22% Cu (with trace gold and zinc) was encountered. Drilling will allow determination of true width and strike continuity of the Pinili breccia lode.
Potential Deeper Hydrothermal Deposits
Evidence of additional, larger and deeper mineralized targets of porphyry mineralization is being identified using reprocessed geophysical data combined with ground prospecting recently completed by TVIRD. Mineralization is extensive but outcrop exposure is limited requiring further follow-up. These prospects are Bailos, Abueva, Tatfu, Rodrige, Nanao West and Nanao East.
Previous airborne magnetic survey data outlined a large alteration zone of quartz-clay-sulphide-iron oxide in the central part of the project area. Reprocessing of this magnetic survey data revealed a core alteration zone 2 Kilometres by 1.5 Kilometres (1.2 miles by 1 mile) of low magnetic intensity surrounded by magnetic volcanic rocks. Surface mapping of this alteration zone has outlined several mineralized areas of quartz-sulphide breccias and hematitic altered rocks.
Soil geochemical anomalies coincident with ground IP and magnetic survey anomalies from previous investigations occur along the margin of the alteration core. Ground prospecting follow-up by TVIRD has identified several potential drill targets; namely, Bailos, Abueva, Tatfu and Rodrige. Of these prospects, Bailos has been traced over 1 kilometre (0.6 miles) in length. Further exploration including trenching, mapping and sampling will be carried out to better pinpoint the drill targets.
The properties were acquired from SGMC and YZ Summit Mining Corp, ("YZ"). YZ is a small-scale operator who entered into an Operating Agreement with SGMC on a portion of the Siennalyn MPSA and over the past two years has been engaged in mining for the purposes of direct shipping copper ore to China from two small adits on the Pinili Prospect.
Great story on how China will demand Copper in much higher quantities...
China Can Use More Copper Than World Has Now With Yang's Stove
By Bloomberg News - Nov 2, 2010 3:01 PM PT
China’s worldwide search for copper begins in the gnarled hands of 76-year-old Yang Caiguan, who is fiddling with the cables of his digital television tuner.
“The red plug should go into the red hole,” he mutters to himself, hesitating to make the connection.
Around him sit amenities of modern life -- flat-screen TV, air conditioners, washing machine, water heater and gas-ignition stove -- that were foreign to him and his wife until this year. With their new apartment in the central Chinese town of Daojiang in Hunan province, the couple acquired at least 41 kilograms (90 pounds) of copper in electrical wiring and appliances, about 10 times the nation’s annual per capita consumption of the metal.
As subsistence farmers they had used little copper for most of their lives.
The Yangs’ transformation into urbanized consumers epitomizes the Chinese government’s vision for the next -- and potentially biggest -- phase of its economic rise: bringing the prosperity of its coastal boomtowns inland, where more than half of its 1.3 billion people live, mostly in rural homes.
China is on pace to almost triple its annual use of copper to 20 million tons in 25 years, according to CRU, a London-based metals and mining consulting firm. That’s more than the world produces today. Rising demand will create a potential global shortage of 11 million tons a year by 2035, CRU forecasts.
‘Very Long Term’
“There is absolutely torrid growth taking place in central China,” says Daniel Rosen, a principal of the Rhodium Group, a New York-based economic advisory firm. “It’s going to build an Eastern China over again.”
The per-capita gross domestic product of inland provinces is less than half of that on the coast, according to data from China’s National Bureau of Statistics. Even nationwide, China’s GDP was $3,734 per person in 2009, ranking the country in between Albania and El Salvador, according to the International Monetary Fund.
“When politicians say China is a developing country, it’s true,” says Wu Jian, director general of the Rio Blanco Copper SA mine in Peru, owned by Fujian province-based Zijin Mining Group Co. “It doesn’t all look like Shanghai or Beijing.”
The rapid expansion of suburbs like Levittown on Long Island after World War II helped lift consumer demand in the U.S., the world’s largest economy. China, which leapfrogged Japan in the second quarter this year to become the second- biggest, similarly wants to grow towns and cities that will create jobs, raise living standards and boost consumption.
The country’s 10 percent average growth rate since the 1980s puts its economy on a trajectory to surpass the U.S. within 20 years, based on data compiled by Bloomberg.
Boost Consumption
Accelerating the urbanization of central and western China will push economies there to grow, Vice Premier Li Keqiang said in a speech in February. Boosting domestic demand and moving people into cities are priorities to maintain China’s fast long- term growth, he said. The government aims to quadruple per- capita GDP from 2000 to 2020.
Copper is at the heart of the development. China’s consumption of the metal has tripled in a decade to an estimated 6.8 million tons this year, according to CRU.
Atomic number 29 on the periodic table, the material is one of the best conductors of heat and electricity. In use for 10,000 years, it provides the electrical core of homes, cars, computers and mobile phones.
‘Xiao Dao’
The Yangs were thrust into China’s consumer society by their factory-owning son, Yang Dongsheng. He spent 350,000 yuan ($52,500) to buy and equip their four-bedroom apartment in Daojiang, 500 kilometers (311 miles) from China’s southern coastal manufacturing belt where he made his fortune.
He wanted to make them comfortable out of a feeling of “xiao dao,” the Chinese expression for filial piety, says Yang Dongsheng, who is 35 and the youngest child.
Before, the couple had lived eight kilometers and seemingly a century away in a mud-brick house Yang built in the village of Caoxieping, Chinese for “straw shoes floor.” There was no running water, the toilet was an open cesspool and his 84-year- old wife, Jiang Hejiao, cooked hunched over a wood-fired stove.
Their new home is in a gated development of 17 red-and- yellow apartment blocks called Songlinyuan, or Pine Forest Court for the trees that cover the hills behind. It’s the first of 10 new mid- and high-rise residential communities planned for the town, according to Wang Xianjie, deputy chief of Dao county’s urban planning bureau, in an attempt to attract natives back from the coast and wealthier local residents.
Shopping Malls
Local government officials aim to double the size of Daojiang, the main town in Dao county. By 2012, three new highways will connect it to the east and south coasts, as well as to Inner Mongolia in the north. The first rail line through Dao opened last year, connecting it to Luoyang in the north and Zhanjiang on the south coast.
“Now the city is not a comfortable place to live,” says Tang Xianglin, the party secretary of Dao county, citing a lack of decent housing complexes and nice shopping malls. “We’re getting them now.”
In February, two weeks after moving to Songlinyuan, the Yangs celebrated Lunar New Year’s Eve with 23 relatives. Yang tells how the home buzzed with energy as they played cards or watched TV in the heated living room under the lights of a pink chandelier.
Traditional Banquet
Their traditional banquet of chicken, fish, duck, beef, pork, and a dog stewed in soy sauce was prepared for the first time on the burners of a China-made gas stove made with at least 4.6 kilograms of copper, according to its manufacturer Guangdong Chant Group.
“A new home needs a celebration,” says Yang, his left eye blind because of keratitis.
After their guests left, the couple found themselves surrounded by a sudden wealth of modern electronics they didn’t know how to use. For a time, Yang would phone his children daily asking how to operate them.
Jiang stopped cooking, afraid to use the electric-ignition gas stove because of the way it whooshes when it lights up.
“They’re not used to modern life,” says their son.
For all the creature comforts, the older Yang isn’t sure if their new life is better than the old.
“It’s a bit more comfortable living here,” Yang says. “In terms of the routines, I’m more used to my old house. There we were more at ease. I could spit on the ground freely and walk around.”
Ice Cream
An inventory of their new conveniences shows how copper underpins the hopes of leaders like Vice Premier Li.
One of the elderly couple’s favorite accoutrements is the freezer drawer of their refrigerator, which has 2 kilograms of copper, according to Li Peng of Hunan Vary Tech Co., which recycles large appliances. It’s brought them the simple joy of all-you-can-eat ice cream at any hour. Yang opens it to show a plastic bag of ice cream bars.
“Now we can buy them in bulk,” says Yang, whose other pleasures include smoking tobacco in a bamboo pipe and drinking the yam wine he brought to Songlinyuan from his village house.
The Yangs’ washing machine, with about 750 grams of copper, is seldom used in summer, when they wash their clothes by hand. In the bathroom there’s an unused shower connected to a Usaton water heater that comprises another 500 grams of copper, according to the manufacturer. They prefer to bathe in a brown plastic tub they brought from their old home.
13 Kilograms
The air-conditioning is taking some getting used to. Yang says he often gets up in the middle of the night to turn off their bedroom’s wall-mounted Midea Group Co. unit because he’s cold. Their home has two such models that contain 6 kilograms of copper each, the Guangdong, China-based manufacturer says.
The wiring in a Chinese home of that size typically uses about 13 kilograms of copper, says Liu Yuan, chief engineer of China Building Decoration Association. The TV has at least 110 grams of copper in its circuitry.
The number of kilograms of copper consumed per capita in China last year was 3.9, compared with 6.5 for the U.S. and 8.6 for Japan, says Jeremy Gray, global head of resources at Standard Chartered Plc in Hong Kong. As the country develops, China’s consumption per person may rise to 5 kilograms by 2015, he says.
Scores of other residents in the complex of seven-story buildings were as flummoxed as the Yangs by their move into 21st-century housing. Wen Tao, a 20-year-old security guard, says he’s grown tired of them asking questions, and arguing over who uses the development’s basketball court.
Fulfilling Aspirations
“These people don’t know how to turn off the water valve,” Wen says. “They buzz me for the pettiest things.”
He dreams of quitting his 800-yuan-a-month job and one day starting a business that, he says, would enable him to live in such modern housing and buy a foreign-brand car. He points to an Audi A6 he admires parked alongside cheaper China-brand Chery models in the parking lot of Songlinyuan.
Fulfilling such aspirations means China’s appetite for copper will be “relentless,” says Andrew Harding, chief executive officer of Rio Tinto Group’s copper unit in Santiago, Chile. The world’s third-largest mining company by revenue generated 25 percent of its sales from China in the first six months of this year, up from 14 percent from the same period in 2006.
“If you believe as I do that there’s a desire to match the standard of living that’s seen in places like the U.S. or the U.K. or Australia, then they’ve got to do an enormous amount of infrastructure, building of houses, cars and all that sort of stuff,” he says.
Appliance Sales
Harding’s vision is beginning to play out in Daojiang. Hand-painted advertisements for Midea air-conditioners and Meiling fridges line the main road into the town from Guilin, a popular riverside tourist destination to the west. The center, where the Yangs’ daughters shopped for most of their parents’ new gadgets, boasts two electronics stores and a jewelry shop opened in May.
Inside the showroom of the Yinfeng Home Appliances Supermarket, sales hit a record 1.7 million yuan in July, according to the owner, Jiang Zhongli.
Rural customers spent 67.8 billion yuan buying home appliances in the first half of 2010, more than the whole of last year’s total, spurred on by government subsidies for farmers. About 600,000 tons of refined copper consumed in China last year went into home appliances, equivalent to the amount of metal that would be needed to build 82 Eiffel Towers.
The Yangs’ Journey
Among the casually dressed staff taking turns to belt out songs on a karaoke machine between serving shoppers is Cheng Zhifang. The best salesman on the floor, by his own account, the 29-year-old quit itinerant jobs on the coast last year to come back home in the hope of finding better prospects.
“Before, when villagers came into the shop and saw the prices they looked uncomfortable,” says Cheng, who says he can read buyers’ faces from the way they hold their eyes. “I’m seeing less of that now.”
The Yangs’ journey traces China’s history during the Communist era. Once local landlords living in a 300-year-old ancestral mansion, they were considered class enemies when Mao Zedong launched the Cultural Revolution, he says. The family escaped slaughter after village officials protected them during a bloody 1967 rampage through Dao, according to Yang.
They were allocated 4 mu of farmland (two-thirds of an acre, or 2,670 square meters) under reforms introduced after Mao’s death as leader Deng Xiaoping began opening China’s economy to market forces economy in 1978. Near there, Yang built them a house of yellowing mud bricks.
Yellow Mud Bricks
On a visit in August, he pointed to ventilation holes high in the walls of the tile-roofed house they relied on to provide relief from the humid summer heat because the house has no air- conditioning. He opens the door to an open-air toilet the family used under the watchful eyes of three bulls they kept to work the paddy fields.
“It doesn’t matter the bulls can see you,” Yang says, hushing the animals back behind the bars.
Illiterate, Yang raised cattle, grew rice and yams and later worked as a bricklayer to pay for his children to go to high school in the hope they could break out of poverty.
“I was doing construction work in my late 60s,” says Yang. “The job paid 20 yuan a day at most. My son wasn’t yet rich.”
Yang Dongsheng is one of more than 150 million migrants who have moved to the coast seeking better wages, an influx that fueled China’s economic growth by providing a workforce for labor-intensive export manufacturers.
One-Way Ticket
China’s industrial production has risen almost fivefold since the country’s accession to the World Trade Organization in 2001. That’s double the fastest recorded increase in the U.S., during the 8 years after the Great Depression trough.
In 2000, with 200 yuan in his pocket, Yang Dongsheng bought a one-way train ticket to Shenzhen. Working as a technician, he picked up enough computer engineering skills to set up his own business in 2004. His company, Shenda Automation Machinery, employs 40 people in the southern Chinese manufacturing city of Dongguan.
Yang Dongsheng says it’s too early to say whether he’ll return home. He turned down a tax break to set up a plastic- molding factory in Dao last year, he says. The area doesn’t have adequate transportation and supply-chain infrastructure, he says.
Foxconn Shifts Inland
Much depends on how many of his clients move inland, he says. Shenda Automation makes customized machines for factories that produce parts for companies including Foxconn Technology Group, the electronics behemoth that makes Apple Inc. iPhones, Sony Corp. PlayStations and other products for export.
Foxconn’s flagship, Taipei-based Hon Hai Precision Industry Co., is planning to join the migration inland, building factories in Henan and Sichuan provinces as it recruits 400,000 more workers. The company’s main factory in Shenzhen, a southern coastal city, had a spate of employee suicides this year.
“If Foxconn starts an operation in Dao, I will definitely move back,” the younger Yang says.
Central China’s growth rate in fixed-asset investment -- spending on things like factories, buildings and machinery --has outpaced the coast for the past five years, the Rhodium Group’s Rosen says. In 2009, investment grew at 36 percent in central China compared with 24 percent in the east.
China must succeed in building out counties like Dao, or risk social turmoil, says Zhang Jun, director of the China Center for Economic Studies at Fudan University in Shanghai.
Five-Year Plan
“There is no alternative,” says Zhang. “A failure will exacerbate the imbalance with eastern China. That would impose a huge threat to stability, not only to China but the whole world.”
China’s next five-year development plan beginning in 2011 will promote domestic demand and more equitable social growth, according to a statement by top officials of the party’s central committee after an October meeting in Beijing.
It won’t be easy. Inland economies will find it more difficult than their coastal counterparts did because they are paying more for commodities, says Ben Simpfendorfer, the Hong Kong-based chief China economist at Royal Bank of Scotland Group Plc.
“Clearly China can’t follow on the same development path as did Europe and the United States,” he says. “It can’t continue to consume copper at the current rate because there aren’t enough mines.”
Rising Electricity Bill
State Grid Corp. of China, the country’s largest electricity distributor, will absorb one million tons of copper a year until 2015, according to Qu Yi, CRU’s Beijing-based copper analyst. Dao county’s electricity transmission capacity was boosted 150 percent after a new transformer with 20 tons of copper was installed in June.
Power use by the Yangs rose dramatically with their move. The couple were taken aback to find their new lifestyle led to a monthly electricity bill of 200 yuan, equal to what they paid for a full year back in the village, the family patriarch says.
A cool breeze stirs in the living room as he turns on the Blue Spirit air-conditioning unit that stands six-feet tall behind their three-seater brown leather sofa. The unit, with 8 kilograms of copper according to its maker, Zhuhai, Guangdong province-based Gree Electric Appliances Inc., bears a label saying it’s energy-efficient. Yang is skeptical.
“The meter runs really fast when this is turned on,” Yang says. “Does it really save a lot of electricity?”
The couple still seeks out remnants of their old lifestyle to escape the loneliness of their new environment.
At 8 a.m. most days, the two walk to a small road-side house to gamble up to 10 yuan playing a traditional Chinese card game with new acquaintances. Evenings are spent back at their apartment, eating dinner and watching TV, sometimes under the glare of colored spotlights in the ceiling that bathe the living room in red, blue and green.
“We’ve got to get used to it,” he says. “We didn’t want to move. My son wanted us to live here.”
To contact the Bloomberg News Staff on this story: Fan Wenxin in Shanghai at Wfan19@bloomberg.net
To contact the editor responsible for this story: Melissa Pozsgay in Paris at mpozsgay@bloomberg.net
http://www.bloomberg.com/news/2010-11-02/china-seen-using-more-copper-than-world-produces-now-with-yang-s-new-stove.html
TVI Pacific DD
TVI Pacific Inc. (Public, TSE:TVI)
TVI Pacific Inc. FGN (Public, PINK:TVIPF)
http://www.google.com/finance?q=tvi
http://www.tvipacific.com/
TVI Pacific Year End Results Reinforce Solid Financial and Operational Performance
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
Description:
TVI Pacific Inc. is a mining company focused on the acquisition, exploration and development of polymetallic mineral deposits in the Philippines. The Company owns a 40% interest in TVI Resource Development Phils, Inc. (TVIRD). At the Canatuan Mine, TVIRD’s principal asset in the Philippines, it has initiated production activities. It is evaluating further exploration activities and bootstrap development scenarios at the Balabag gold project. In addition, TVIRD holds a diverse portfolio of properties and land positions in the Philippines, known as the North Zamboanga tenements. During the year ended December 31, 2008, production at Canatuan Mine averaged 1,971 tons per day (tpd) and a total of 6,079 gold equivalent ounces. The Company owns a contract drilling business, which, as at December 31, 2008, was being marketed for sale. In March 2008, TVI disposed of its Chinese exploration and drilling operations through the sale of its subsidiary, Tiamut International Limited
Quick Facts:
- Outstanding shares: 478,950,000
- Market cap: $62,260,000 <-- Revenue from 2009 alone was $67 million!! This is hugely undervalued with $80 million in revenue expected for 2010.
- Avg. volume: 791,000
- 52 week range: 0.03 – 0.13
At a Quick Glance:
Due to its location in the Philippines, TVI Pacific has gone relatively unnoticed by many investors. After announcing impressive year-end results (http://tinyurl.com/yhv4rcb) on March 25, 2010, TVI gained 8.33% on 10x average volume.
They have completed 13 shipments (Cu, Au, Ag) since March 2009 with an average weight of 5,000 dry metric tons. The Company was able to benefit from the incremental incline of metal prices throughout 2009. Future shipments of approximately 5,000 dmt are anticipated to occur approximately every six weeks. Also anticipated is an increase in the grade of copper content for each metric tonne of concentrate shipped as to reduce shipping and freight costs.
As of January 19, 2010, TVI has reduced its five year debt facility from US $30.1 million to $16.2 million in less than one year. IR representative, Rhonda, states “…we are aggressively servicing debt this Q1; whereas, we haven’t been as aggressive in the past quarters. If metal prices keep up the way they are, we could be done with the loan before the end of Q2 with internal cash.”
TVI has an extremely informative website and a very responsive IR department, including a Facebook page (http://tinyurl.com/ygzyu8t) in which Rhonda quickly responds to investors’ questions.
Upcoming Events:
Asia Mining Congress 2010
March 22 - 26
http://www.terrapinn.com/2010/asiamining/
Mines & Money Hong Kong
March 29 - 31
http://minesandmoney.mining-events.com/asia/
New York Hard Assets Investment Conference
May 10 - 11
http://www.hardassetsny.com/Pages/default.aspx
TVI Pacific Annual & Special Meeting of Shareholders
May 27 at 3:00 PM MST
Mines and Money Beijing
June 8 - 9
http://www.minesandmoney.com/beijing/
The Future
Utilizing the current bridge funds from LIM and with future funds we are still negotiating (but confident
we will secure), our plan is to aggressively build our Company by completing the Canatuan cash flow
engine. Simultaneously, we plan to build further value through an expanded exploration program
going forward. Our goal has been, and will continue to be, the creation of substantial share value for
all shareholders.
As a result of last years negative events we fully recognize that shareholder confidence in our
Company has been badly affected. Our goal is to change that sentiment with positive, value-adding
announcements of successful accomplishments as we execute our plan in the future. Management
continues to see tremendous value in our portfolio of properties and with share prices hovering
around historic lows, the discrepancy between market valuation and potential value is even more
pronounced. We clearly see this as an investment opportunity for all stakeholders.
We plan to keep all stakeholders fully informed as we move forward with the execution of our plans.
As always, we aim to provide as much public information as we can, keeping in mind our disclosure
obligations as a transparent public entity. We appreciate the continued feedback from our investors.
Lastly, I would like to thank the faithful shareholders who have remained with us, those who have
joined us and the TVI team for persevering through this difficult past year. We look forward to
brighter, more profitable years ahead.
Yours sincerely,
Clifford M. James, President and CEO – April, 2008
Nybob I don't need to do much dd , I just use Nybob world value line on mining stocks. God Bless you Bob you sure have old of info, thanks fro sharing it like to play this one later, that's why I marked it. Looks like a blue chip penny stock
To 'americano' welcome to 'TVI PACIFIC INC' -
Please do your dd....
http://www.tvipacific.com/main/
an don't hesitate to come back -
to tell us your -
Gold duck-panning luck? -
God Bless you
http://investorshub.advfn.com/boards/getboards.asp?SearchStr=tvi%20pacific
http://investorshub.advfn.com/boards/board.asp?board_id=6954
Tvi I like it Bob, marked the board
TVI signs confidentiality deal with firms it plans to acquire
Mining firm TVI Resources Development Phils., Inc.
is in talks with six local mining companies for their
possible acquisition and eventual development.
Clifford M. James, president of Canadian parent company
TVI Pacific, Inc.,
said in a statement that the local unit has signed confidentiality agreements with the mining companies for advanced stage gold, copper and polymetallic development projects and a possible large copper-gold or gold deposit.
Mr. James identified listed firms United Paragon Mining Corp. and Vulcan Industrial and Mining Corp. as among those who had signed the confidentiality agreements.
The identity of the four other firms were not disclosed.
TVI Resources Vice-President Rocky Dimaculangan said the firm could not identify the four other firms since doing so would compromise the agreement.
He said the four other mining companies are a mixture of local and foreign companies with local offices in the country.
"We normally conduct disclosures to let the people know the progress of these confidentiality agreements," he added.
Mr. James said data review and field investigations on the acquisition targets have already been initiated with formal due diligence reviews scheduled for early 2007.
He said the board of directors of TVI has authorized the search for properties to be acquired in the Philippines. The asset should possess a large polymetallic or gold deposit with reserves above 500,000 ounces of gold equivalent. The property should also be in its advanced stage to allow production within one to four years of acquisition.
Mr. James said the company is also eyeing properties which possess a prospective annual production capacity above 80,000 ounces of gold equivalent at operating costs of less than $300 per ounce of gold equivalent.
He said the company is also interested in acquiring properties with large-scale copper-gold deposits.
"Based on our platform at Canatuan, including the recently announced sulphide (copper/zinc) expansion project, we are now aggressively evaluating acquisition opportunities," he said.
Mr. James said TVI believes that there is a lot of mining potential in the Philippines that remains to be developed.
"We believe that the Philippines has significant undeveloped mining potential; and we have confidence in the government's mining revitalization commitment, as well as the political and economic turnaround taking place in the country," he said.
TVI's confidentiality agreement with United Paragon involves the development of the company's Longos mine in Paracale, Camarines Norte. Estimates by the mines and geosciences bureau of the Department of Environment and Natural Resources peg gold deposits at the Longos mine at 1.6 million tons. Its agreement with Vulcan, meanwhile, involves the latter's Panaon Island property.
http://metalsplace.com/metalsnews/?a=10621
http://www.investorshub.com/boards/board.asp?board_id=6954
TVI Philippines Exploration Update -
Wednesday February 7, 10:00 am ET
Tamarok- Tapisa Results Indicate Potential for Extensive Copper-Gold Mineralization System
Priority Exploration Program Planned
- Reconnaissance work supports historical findings and discovers new prospects:
-- Malachite Hill prospect yielded 38 meters averaging 0.705% Cu and 0.35gpt Au
-- Silawa-Tigon Creek prospect yielded more than 110 meters averaging 0.3% Cu
- Geological surveys and drilling program slated for 2007
CALGARY, ALBERTA--(CCNMatthews - Feb. 7, 2007) -
TVI Pacific Inc.
(TSX:TVI - News;
or the "Company") is pleased to announce that recent
reconnaissance surveys, involving semi-detailed geological
mapping and sampling over portions of the Tapisa and
Tamarok tenement applications in the Northern Zamboanga
Peninsula, Philippines, support previously reported
historical findings and have identified additional
copper and gold prospective occurrences.
http://biz.yahoo.com/ccn/070207/200702070371320001.html?.v=1
http://www.investorshub.com/boards/board.asp?board_id=6954
Year of Gold comes once every 60 years.
Famous saying : "If one short Gold, one should cover pretty quick".
Quote....
Baby boom to come in the "Gold Pig" year - Chinanews
Posted by Sophia Cao :: 2006-12-27, 10:45 AM :: Culture
From Chinanews:
2007 is the Year of the Pig in the traditional Chinese lunar calendar, and also, that year belongs to “gold” according to the five-element theory. There is only one “Gold Pig”year in every 60 years, and it is believed that a person born in the “Gold Pig”year will be blessed with great fortune all through his/her life. Thus many young couples are planning to have their babies in 2007, without knowing that their good will has also boosted the economy to grow.
End quote.
http://chinadigitaltimes.net/2006/12/baby_boom_to_come_in_the_gold_pig_year_chinanews.php
by Iveson.
http://www.investorshub.com/boards/board.asp?board_id=6954
http://www.informationliberation.com/?id=19543
at the resource convention i met with ian and paul...both were very accommodating, open and forthcoming. here is a link showing the TVI booth and the gents:
http://ca.geocities.com/826cool@rogers.com/tvitoronto.jpg
here is what i understood from what they told me:
1) TVI has been proactive about the stock price, hiring an investment firm sometime ago to access the situation and advise
2) they will be acting shortly on the recommendations, which may include stock consolidation, corporate promotion, buyback, or continuing on with allowing the numbers to speak for themselves. they will most likely take a balanced approach and initiate a bit from each of these venues.
3) there is one commercial investor that has accumulated approx. 20 million TVI shares. they are in touch with many commercial buyers who are tracking TVI and are eager to act after a successful 3rd or 4th quarter.
4) TVI anticipates positive news on china shortly. phelps is eager to conclude dealings with TVI but waiting for the go ahead from the chinese. TVI spent over 3 years acquiring the rights to work independently of a chinese partner while in china and are uniquely licensed in this regard...and hats off to them for the initiative and result. the licensing stands on its own as a very valuable asset.
5) lots of base metal $$ under the gold and silver findings at canatuan. facilities to process are in the near future. overlapping processing plants will bring finished gold cost down...projected to under $190/ounce
6) Balabag is very promising...next to come online...look for news.
7) no debt...fundamentally very attractive future.
these are my conclusions based on conversations with paul. but please act on your own homework...thanks...826
To 'originunknown' on 'TVI PACIFIC INC' -
welcome to TVI -
staying strong and Long
ride TVI back UP -
http://www.tvipacific.com/main/?home
http://www.investorshub.com/boards/board.asp?board_id=6954
I have traded TVI often.
Political uncertainty is often a factor in keeping down price of some good stocks.
great initative on this board!
what an awesome annual report...
http://www.orderannualreports.com/asp/getpdf.asp?session_ID=F4B9C2CEDFB0437D&virtual=V0000070672
not to mention all that has happened at TVI since 2006 began!
now...a producing, fundamentally strong gold miner showing increasing profits and sales with excellent seasoned management that is growing quickly through additional projects, joint ventures and reserves and whose stock price is strongly undervalued is one thing....but having all this happen in the early stages of a gold/silver bull market is a potentially exceptional opportunity.
two questions:
1) what happened in '95-96 that spiked the stock to $3?
2) who would be selling TVI stock at .165, given the above, and why?
anyone?
keep up the good work...
eight2six
Long and Strong .............. a steady stream of Pr's would be nice to move the pps up a steady incline....Good Luck to all
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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:
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:
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:
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.
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:
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…
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.
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