TVI Pacific Provides Second Quarter 2013 Financial and Operational Results

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[{"type":"text","content":"\n\n\nTSX: TVI  OTCQX: TVIPF\n\n\nCALGARY, Aug. 13, 2013 /CNW/ - TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF) (TVI or the Company) today announced its unaudited, consolidated\n financial and operational results for the quarter ended June 30, 2013.\n\n\nFor a thorough explanation of the points discussed in this news release,\n shareholders are encouraged to read the unaudited interim consolidated\n financial statements, prepared in accordance with International\n Financial Reporting Standards (IFRS), and the management's discussion\n and analysis for the periods ended June 30, 2013 and June 30, 2012 and\n the audited consolidated financial statements for the years ended\n December 31, 2012 and 2011.  These documents were filed with certain\n securities regulators in Canada, and are available on our web site (www.tvipacific.com or under our profile on SEDAR www.sedar.com).\n\n\nHalf Year 2013 Highlights\n\n\n\nTotal net revenues of $27.2 million\n\n\nEarnings before interest, depreciation, accretion and share of loss of\n associates of $1.2 million\n\n\nNet loss of $4.9 million\n\n\nCash balance of $9.1 million at June 30, 2013\n\n\nShort term debt facilities of $9.2 million (average interest rate of\n 2.0%)\n\n\nA working capital surplus of $6.3 million\n\n\n\nFinancial Highlights\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\nQuarter ended\nJune 30, 2013\n\n\nQuarter ended\nJune 30, 2012\n\n\nQuarter ended \nMarch 31, 2013\n\n\n\n\n●\n\n\n \n\n\n \n\n\nGross revenue ($ million)\n\n\n$20.1\n\n\n$26.5\n\n\n$11.4\n\n\n\n\n●\n\n\n \n\n\n \n\n\nNet revenue ($ million)\n\n\n$17.0 \n\n\n$22.6\n\n\n$10.2\n\n\n\n\n●\n\n\n \n\n\n \n\n\nTotal cost per Copper Pound Equivalent (1) (US$)\n\n\n$3.27\n\n\n$2.62\n\n\n$2.66\n\n\n\n\n●\n\n\n \n\n\n \n\n\nProduction cash cost per Copper Pound Equivalent (2) (US$)\n\n\n      $1.89\n\n\n$1.29\n\n\n$1.79\n\n\n\n\n●\n\n\n \n\n\n \n\n\nTotal cash cost per Copper Pound Equivalent net of by-products (3) (US$)\n\n\n      $1.48\n\n\n$0.65\n\n\n$1.48\n\n\n\n\n●\n\n\n \n\n\n \n\n\nNet income (loss) ($ million)\n\n\n      ($4.3)\n\n\n$2.1\n\n\n($0.6)\n\n\n\n\n●\n\n\n \n\n\n \n\n\nBasic n...

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