TVI Pacific Inc. Completes 28th Shipment of Copper Concentrate
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 05/10/12 -- 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 28th shipment of copper concentrate produced at the Canatuan mine, on May 7, 2012.
The 28th shipment of 5,622 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 May 7, 2012. TVIRD expects to earn gross revenue of approximately US$12.4 million from MRI for this shipment (pending final assay and price adjustments). Remaining in inventory is approximately 1,807 dmt of copper concentrate.
Production remains steady at the Canatuan mine, achieving copper concentrate grade levels between 18 and 25 percent. TVIRD anticipates that future shipments of copper concentrate will continue approximately every eight weeks.
About TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF)
TVI Pacific Inc. is a publicly-traded Canadian company that is focused on the production, development, exploration and acquisition of resource projects in the Philippines. TVI produces copper and zinc concentrates from its Canatuan mine, is pre-developing its Balabag gold and silver project, and is carrying out exploration programs on its other North Zamboanga tenements. TVI also has an interest in an offshore Philippine oil property.
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Contacts:
TVI Pacific Inc.
Raina Vitanov
Vice President, Investor & Corporate Relations
403.265.4356
TVI Pacific Inc.
Laureen Dukart
Investor Relations Coordinator
403.265.4356
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Datum: 11.05.2012 - 01:00 Uhr
Sprache: Deutsch
News-ID 145399
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Town:
CALGARY, ALBERTA
Kategorie:
Mining & Metals
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