Business
TVI Pacific Inc. and Mindoro Resources Ltd. Announce Robust Economics for the Agata High-Iron DSO Project
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About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\n\nTSX: TVI  OTCQX: TVIPF\nTSXV: MIO  ASX: MDO  FFT: OLN\n\n\nCALGARY, Sept. 10, 2013 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) (TVI) and Mindoro Resources Ltd. (TSXV:MIO) (ASX: MDO) (FFT:OLM) (Mindoro) announced today a National Instrument 43-101 compliant\n Feasibility Study indicating robust economics for a direct shipping ore\n operation (\"DSO\") of the high iron laterite resources at the Agata\n Project, located in Agusan del Norte, Mindanao, the Philippines.\n\n\nHighlights: \n\n\n\nLow initial start-up capital of US$10.1 million, high Internal Rate of\n Return (IRR) of 187% and payback within first year of operation;\n\n\nPost-tax Net Present Value (10% discount) of US$37.9 million;\n\n\nDSO product to grade 48% Fe and 0.9% Ni.  - a consistently in demand\n product;\n\n\nRemaining infrastructure development planned for Q4, 2013;\n\n\nDSO to China planned to commence in Q1, 2014.\n\n\nShipping rates to accelerate to 2.5M wet metric tonnes per annum in\n 2015.\n\n\n\n\n\n\n\"Completion of the Feasibility Study is a major milestone in developing\n new cash-flow opportunities beyond TVI's producing Canatuan copper-zinc\n mine,\" said Cliff James, Chairman and President of TVI Pacific. \"The\n study demonstrates robust economics that provide a path towards further\n development at Agata and advancing our goal of eventually building a\n nickel processing plant.\"\n\n\n\"We are extremely pleased with the robust results of the Agata DSO\n Feasibility Study and the progress achieved by the operator, TVI, to\n date. The Agata DSO project provides a unique opportunity to generate\n revenue in early 2014 and to start rebuilding value in our company.  We\n also look forward with keen anticipation to the results of the Agata\n Processing Feasibility Study expected in early 2014\", said Tony Climie,\n CEO of Mindoro.\n\n\nTVI and Mindoro Joint Ventures\n\n\nTVI and Mindoro have signed four joint venture agreements, previously\n announced on October 1, 2012, relating to the Agata and Pan de Azucar\n mining projects located in the Philippines. The joint ventures present\n TVI and Mindoro with multiple growth opportunities for near and\n medium-term cash flow. Mindoro has 75% interest in the projects and an\n option to acquire the remaining 25% interest from a private Philippine\n company.  TVI may ...