PMEA Blog

LONDON (Mineweb.com) –TVI Pacific Inc. is listed on the Toronto Stock Exchange with ticker symbol TVI and current market capitalisation of C$62 million or US$53 million and is exploring and developing polymetallic mineral deposits in China and the Philippines.

The company has reported what it calls a banner year in 2006, with production at its Canatuan mine in the Philippines 112% higher than in 2005 at 56,880 ounces of gold equivalent (against 26,830 the previous year), deriving from higher throughput and substantially improved metallurgical recoveries. The gold equivalent figure derives from production of 45,210 ounces of gold and 608,507 ounces of silver.

The cash that this is throwing off should allow for the development of the underlying sulphide deposit and thus engender low cost copper and zinc production, the internal rate of return of which has been estimated at a level of 89% using conservative metal values (of which more below).

The Canatuan Polymetallic Mining Project is on the Zamboanga Peninsula, Mindanao and is owened by TCI’s affiliate TVI Resource Development (Phils) Inc. The deposit comprises a gold and copper-rich volcanogenic massive sulphide deposit, on which the upper portions have been oxidised to produce a gold and silver-enriched gossanous cap.

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