TVI Pacific Inc. Completes Latest Concentrate Shipments
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 06/25/12 -- 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 4th shipment of zinc concentrate on June 17, 2012, and its 29th shipment of copper concentrate on June 20, 2012. The concentrates were produced at TVIRD's operating Canatuan mine in the southern Philippines.
-- 5,062 dry metric tonnes (dmt) of zinc concentrate were shipped containing 49.43% zinc;
-- 5,015 dmt of copper concentrate were shipped containing 18.7% copper;
-- Gross revenue of approximately US$14.7 million will be received for both shipments; and
-- Inventory of 993 dmt of copper concentrate and 3 dmt of zinc concentrate is currently in storage.
The Company's concentrate shipments 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). TVIRD expects to earn gross revenue of approximately US$14.7 million from MRI for these shipments (pending final assay and price adjustments).
Production remains steady at the Canatuan mine, achieving copper concentrate grade levels between 18 and 25 percent and zinc concentrate grade levels between 49 and 55 percent. It is anticipated that future shipments of copper concentrate will continue every six to eight weeks, while future shipments of zinc concentrate will occur every four to six months.
About TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF)
TVI Pacific Inc. is a publicly-traded Canadian company 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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The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
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: 25.06.2012 - 21:00 Uhr
Sprache: Deutsch
News-ID 159710
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Town:
CALGARY, ALBERTA
Kategorie:
Mining & Metals
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