TVI Pacific Inc. Completes 37th Shipment of Copper Concentrate
TSX: TVI OTCQX: TVIPF
CALGARY, Sept. 23, 2013 /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 37(th) shipment of copper concentrate produced at the Canatuan mine, on
September 12, 2013.
-- 5,498 dry metric tonnes (dmt) of concentrate were shipped containing 17.00% copper; -- Gross revenue of approx. US$10.1 million expected to be received for the shipment; and -- Inventory of 958 dmt of copper concentrate is currently in storage.
The 37(th) shipment of 5,498 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 September 12,
2013. TVIRD expects to earn gross revenue of approximately US$10.1
million from MRI for this shipment (pending final assay and price
adjustments). Remaining in inventory is approximately 958 dmt of copper
Production remains steady at the Canatuan mine, achieving copper
concentrate grade levels between 17 and 20 percent. TVIRD anticipates
that future shipments of copper concentrate will continue approximately
every six to eight weeks.
About TVI Pacific Inc.
TVI Pacific Inc. is a Canadian resource company focused on the
production, development, exploration and acquisition of resource
projects in the Philippines and Southeast Asia. The Company produces
copper and zinc concentrates from its Canatuan mine and is advancing
its Balabag Gold-Silver project. TVI is a participant/operator in
several joint venture projects in the Philippines and Papua New Guinea
and also has an interest in an offshore Philippine oil property.
The Toronto Stock Exchange has neither approved nor disapproved of the
information contained herein.
SOURCE TVI Pacific Inc.