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TVI Pacific's 30.66% owned TVIRD Announces Second Drawdown of US $28.5 million Term Loan Facility for its Balabag Gold Project
TVI Pacific's 30.66% owned TVIRD Announces Second Drawdown of US $28.5 million Term Loan F...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\n\n\nTVI Pacific's 30.66% owned TVIRD Announces Second Drawdown of US $28.5 million Term Loan Facility for its Balabag Gold Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 2, 2019\n\n\n\n TSX-V: TVI  OTC Pink: TVIPF  \n CALGARY, Dec. 2, 2019 /CNW/ - TVI Pacific Inc. (TSX-V: TVI) (OTC Pink: TVIPF) (\"TVI\" or \"the Company\") is pleased to announce that TVI Resource Development Phils., Inc. (\"TVIRD\"), a Philippines corporation in which TVI holds a 30.66% interest, has completed its second drawdown of US $3 million under the previously announced US $28.5 million 5-year term loan facility (the \"Facility\") provided by China Banking Corporation.  The Facility has been provided specifically to finance construction of infrastructure at the Balabag gold/silver mining project (\"Balabag\") and is expected to be sufficient to enable Balabag to become operational.  The second drawdown brings the total drawn to date under the Facility to US $9 million.\n\"We are pleased to work with the China Banking Corporation\", said Mr. Cliff James, Chairman and CEO of TVI and Chairman of TVIRD.  \"They are a key partner in helping us to realize our plan to bring Balabag into production, a project in which we have continued to have confidence for the past many years.\"\nAbout TVI Resource Development Phils., Inc. \nTVIRD, a Philippine corporation in which TVI holds a 30.66% interest, is a diversified mining company that focuses on the acquisition, exploration, development and production of resource projects in the Philippines.  It operates under the highest standards of health and safety practices for its workers and its host community; and is uncompromising in its best-practices approach to environmental protection as well as community development.  TVIRD has a pool of highly competent managers, technical personnel and skilled workers with previous experience in gold-silver operation, and holds a 60% interest in AMVI, a nickel laterite DSO operation that commenced in October 2014 and in which TVIRD is operator.&#...