TVI Pacific Inc. Completes Fifth Shipment of Zinc Concentrate
TSX: TVI OTCQX: TVIPF
CALGARY, Dec. 31, 2012 /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 fifth shipment of zinc concentrate produced at the Canatuan mine on
December 18, 2012.
-- 4,470 dry metric tonnes (dmt) of zinc concentrate was shipped containing 47.47% zinc -- Gross revenue of US$3.8 million is expected to be received for the shipment
The Company’s fifth shipment of 4,470 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 19, 2012. TVIRD expects to receive gross revenue of
approximately US$3.8 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 17 and 20 percent and zinc concentrate
grade levels between 47 and 55 percent. The Company expects zinc
concentrate shipments in 2013 to occur every four to six months.
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 and Southeast Asia. TVI produces copper and
zinc concentrates from its Canatuan mine. TVI also has an interest in
an offshore Philippine oil property and is a partner in several joint
venture projects in the Philippines and Papua New Guinea.
The Toronto Stock Exchange has neither approved nor disapproved of the
information contained herein.
SOURCE TVI Pacific Inc.