CALGARY, ALBERTA--(Marketwire - Dec. 21, 2011) - 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 second shipment of zinc concentrate produced at the Canatuan mine on December 18, 2011.
-- 5,344 dry metric tonnes (dmt) of zinc concentrate was shipped containing
-- Gross revenue of US$4.7 million is expected to be received for the
The Company's second shipment of 5,344 dmt of zinc 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 December 18, 2011. TVIRD expects to receive gross revenue of approximately US$4.7 million from MRI for this shipment (pending final assay and price adjustments).
Production remains steady at the Canatuan mine, achieving copper concentrate grade levels between 23 and 25 percent and zinc concentrate grade levels between 50 and 55 percent. The Company expects zinc concentrate shipments in 2012 to occur every four to six months.
It is anticipated that TVI's 26th shipment of copper concentrate will be completed prior to year end.
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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The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
FOR FURTHER INFORMATION PLEASE CONTACT:
TVI Pacific Inc.
Vice President, Investor & Corporate Relations
TVI Pacific Inc.
Investor Relations Analyst
Source: TVI Pacific Inc.