TVI Pacific Inc. Completes 34th Shipment of Copper Concentrate
21 Febbraio 2013 - 4:00PM
OTC Markets
TVI Pacific Inc. Completes 34th Shipment of Copper Concentrate
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TVI Pacific Inc. Completes 34th Shipment of Copper Concentrate
Canada NewsWire
CALGARY, Feb. 21, 2013
TSX: TVI OTCQX: TVIPF
CALGARY, Feb. 21, 2013 /CNW/ - TVI Pacific Inc. (TSX:TVI)
(OTCQX:TVIPF)
(TVI or the Company) announced today that its Philippine
operating
affiliate, TVI Resource Development (Phils.), Inc. (TVIRD),
completed
its 34th shipment of copper concentrate produced at the
Canatuan mine, on
February 13, 2013. This is the
first of five copper concentrate
shipments that the Company anticipates to make this year along with
two
zinc concentrate shipments.
Highlights:
5,089 dry metric tonnes (dmt) of concentrate were shipped
containing
18.10% copper;
Gross revenue of approx. US$11.6
million expected to be received for the
shipment; and
Inventory of 574 dmt of copper concentrate is currently in
storage.
The 34th shipment of 5,089 dmt of copper concentrate
left the port of Santa
Maria in Siocon, Zamboanga del Norte, in accordance with the
off-take
arrangement between TVIRD and MRI Trading AG (MRI) on February 13,
2013. TVIRD expects to earn gross revenue of approximately
US$11.6
million from MRI for this shipment (pending final assay and
price
adjustments). Remaining in inventory is approximately 574 dmt of
copper
concentrate.
Production remains steady at the Canatuan mine, achieving
copper
concentrate grade levels between 17 and 20 percent. TVIRD
anticipates
that future shipments of copper concentrate will continue
approximately
every six to eight weeks.
About TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF)
TVI Pacific Inc. is a Canadian resource company focused on the
production, development, exploration and acquisition of
resource
projects in the Philippines and
Southeast Asia. The Company
produces
copper and zinc concentrates from its Canatuan mine and is
advancing
its Balabag Gold-Silver project towards production in 2014. TVI is
a
partner/operator in several joint venture projects in the Philippines
and Papua New Guinea and also has
an interest in an offshore Philippine
oil property.
The Toronto Stock Exchange has neither approved nor disapproved
of the
information contained herein.
SOURCE TVI Pacific Inc.
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