Business
TVI Pacific Inc. Completes 38th Shipment of Copper Concentrate
TSX: TVI  OTCQX: TVIPF CALGARY , Dec. 17, 2013 /CNW/ - TVI Pacific Inc. (TSX:T...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\n\nTSX: TVI  OTCQX: TVIPF\n\n\nCALGARY, Dec. 17, 2013 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) (\"TVI\" or \"the Company\") announced today that its Philippine operating\n affiliate, TVI Resource Development (Phils.), Inc. (\"TVIRD\"), completed\n its 38th shipment of copper concentrate produced at the Canatuan mine, on\n December 6, 2013.\n\n\nHighlights:\n\n\n\n5,567 dry metric tonnes (dmt) of concentrate were shipped containing\n 17.02% copper;\n\n\nGross revenue of approximately US $9.9 million expected to be received\n by TVIRD for the shipment; and\n\n\nInventory of 2,469 dmt of copper concentrate in storage as at the\n current date.\n\n\n\n\n\nThe 38th shipment of 5,567 dmt of copper concentrate left the port of Santa\n Maria in Siocon, Zamboanga del Norte, in accordance with the off-take\n arrangement between TVIRD and MRI Trading AG (MRI) on December 6, 2013.\n TVIRD expects to earn gross revenue of approximately US $9.9 million\n from MRI for this shipment (pending final assay and price adjustments).\n Remaining in inventory as at the current date is approximately 2,469\n dmt of copper concentrate.\n\n\nBased on current average daily mill throughput of approximately 3,200\n tonnes per day, and further also to the statement in Management's\n Discussion and Analysis for the nine months ended September 30, 2013,\n and as filed on SEDAR on November 12, 2013, that preparations for\n closure of the Canatuan operations have begun, open pit mining is\n expected to end by December 30, 2013 while mill processing and\n concentrate shipments are expected to continue into the first quarter\n of 2014 (subject to change to meet shipping commitments).\n\n\nAbout TVI Pacific Inc. \n\n\nTVI Pacific Inc. is a Canadian resource company focused on the\n production, development, exploration and acquisition of resource\n projects in the Philippines and Southeast Asia. TVI's affiliate, TVIRD,\n produces copper and zinc concentrates from its Canatuan mine and is\n advancing its Balabag Gold-Silver project.  TVI is a direct or indirect\n participant/operator in several joint venture projects in the\n Philippines and Papua New Guinea and also has an interest in an\n offshore Philippine oil property.\n\n\nOn December 13, 2013, TVI announced it has completed the initial closing\n with Prime Resources Holdings, Inc. (\"PRHI\"),...