- Management has the proven ability to develop and operate mines with low CAPEX/OPEX and award-winning safety, environmental and social performance.
- To date, TVI Resource Development (Phils.) Inc. (“TVIRD”), a Philippines corporation previously held 100% by TVI Pacific through to December 2013 in which TVI Pacific now owns 30.66%, has commissioned FOUR (4) mines in the Philippines including:
- Between 2004 and 2014 when TVI Pacific owned 100% of TVIRD:
- The Canatuan gold-silver mine, which produced over 105,000 ounces of gold and 1.8 million ounces of silver from 2004 to 2008 for gross revenues of US$86 million; and,
- The Canatuan copper-zinc minewhich produced 199,778 dry metric tonnes of copper concentrate and 30,548 dry metric tonnes of zinc concentrate from 2009 to 2014 for gross revenues of US$393 million.
- Following divestment of control in TVIRD in December 2013 resulting in TVI Pacific holding a continuing interest of 30.66% in TVIRD and joint control:
- The Agata direct shipping nickel/iron mine (Agata Mining Ventures Inc. (“AMVI”)), which commenced production in October 2014 and has thus far shipped a total of 20.20 million wet metric tonnes through 371 shipments as at the end of October 2022. AMVI is a joint venture company between TVI Resource Development (Phils.) Inc. (“TVIRD”) (60%), Mindoro Resources Ltd. (“Mindoro”) (15%) and Minimax Mineral Exploration Corporation (25%), in which TVIRD is operator. TVIRD is continuing to review several potential nickel laterite projects, near to AMVI, for possible acquisition and the Assay Laboratory at site is being used for the purpose of analyzing samples gathered from these properties but as at the current date the expectation is that AMVI will cease operations following completion of its final shipments in November 2022.
- TVIRD’s 100% owned Balabag gold/silver project, which completed its first shipment of gold doré on September 20, 2021, and has since completed through to November 18, 2022, thirty-one (31) shipments in the amount of 32,471 kg containing 38,058 ounces of gold (“Au”) and 984,292 ounces of silver (“Ag”) for 49,458 gold equivalent ounces (“AuEq oz”).
- On November 4, 2021, TVIRD completed its acquisition of 100% of the outstanding equity in Greenstone Resources Corporation (“GRC”), the owner and operator of the Siana Gold Mine (“Siana”) and the Mapawa Project (“Mapawa”), both of which are located in the southern Philippine island of Mindanao. Prior to the acquisition by TVIRD, GRC was the Philippines affiliate of Red 5 Limited (“Red 5”) (ASX: RED), a Perth, Western Australian-based gold company, the shares of which are listed on the Australian Securities Exchange. Red 5 has previously reported in their 2021 Annual Report a combined historical Indicated JORC 2012 mineral resource estimate for the Siana open pit and underground mine of 4.3Mt @ 4.6 g/t Au and 6.8 g/t Ag and combined Inferred JORC 2012 mineral resource estimate for the Siana open pit and underground mine of 0.5Mt @ 8.9 g/t Au and 10.6 g/t Ag. TVI is not treating this as a current mineral resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects as a qualified person has not done sufficient work to classify the historical estimate as current. Rehabilitation of the processing plant is proceeding with some key processes at October 31, 2022, now undergoing early testing and commissioning using the ore stockpile. Dewatering and waste stripping of the Siana pit are also proceeding together with TSF6 road construction, excavation and embankment placement works.
- On January 31, 2022, TVIRD obtained control of SageCapital Partners, Inc. (“SageCapital”) through the acquisition of all of its outstanding capital stock. SageCapital is a holding company incorporated under the laws of the Philippines which, in turn, owns 60% of the outstanding capital stock of Mt. Labo Exploration and Development Corporation (“MLEDC”), a Philippines mining and minerals exploration development company whose projects are based in Camarines Norte, Philippines, and which is the owner and operator of the Mabilo Project (“Mabilo”). With a near-surface deposit, Mabilo has potential for direct shipping ore (“DSO”) operations and it is contemplated that mining will use an open-pit mining method. The Mabilo mineralized deposit is classified as a copper-gold-iron skarn deposit that offers potential for multi-metal products, namely copper, gold and silver, with by-products magnetite (Fe3O4) and pyrite (FeS2). A NI 43-101 Technical Report prepared by Lycopodium Minerals Pty Ltd. and filed on May 2, 2016, under the SEDAR profile of RTG Mining Inc. (“RTG”), which holds a 40% interest in MLEDC through SRM Gold, reflects a historical Probable Mineral Reserves estimate of 7.8Mt at 2.0% Cu, 2.0g/t Au, 8.8g/t Ag and 45.5% Fe for Mabilo. TVIRD is currently proceeding with various organizational, community-related, permitting and site clean-up matters while considering next steps at Mabilo.
- On June 1, 2021, AMVI received the Environmental Compliance Certificate for the Agata Limestone project that is valid through to May 31, 2026. Endorsements from the required local governments have been received for the project and the balance of the permitting process is continuing.
- Environmental and safety awards received by TVI through its exceptional performance thus far at Canatuan, Agata and now Balabag include:
TVI Pacific does not operate or control any of the mines or projects of TVIRD.
TVI Pacific’s management team remains focused on repeating its operational success in new jurisdictions in the Asia Pacific Region and is searching for resource opportunities that can be rapidly developed and put into production.