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TVI's 30.66% owned TVIRD Awaits Formal Notice of MPSA Cancelation
TVI's 30.66% owned TVIRD Awaits Formal Notice of MPSA Cancelation Canada NewsWire ...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\n\n\nTVI's 30.66% owned TVIRD Awaits Formal Notice of MPSA Cancelation\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, Feb. 15, 2017\n\n\n\nTSX-V: TVI   OTC Pink: TVIPF\n\n\n\nCALGARY, Feb. 15, 2017 /CNW/ - TVI Pacific Inc. (TSX-V: TVI) (OTC Pink: TVIPF) (\"TVI\" or \"the Company\") announces that TVI Resource Development (Phils.), Inc. (\"TVIRD\"), a company in which TVI has a 30.66% equity interest, has learned through a news conference held on February 14 by the Philippine Department of Environment and Natural Resources (\"DENR\") that MPSA No.086-97-IX, in which the Balabag project is located, is among 75 Mineral Production Sharing Agreements (\"MPSA\") that have been recommended for cancelation. It should be stressed that this announcement does not relate to TVIRD's Agata nickel laterite mine for which TVIRD has been given authorization to continue operating.\n\nOutside of learning of the recommended MPSA cancelation through the DENR press conference, TVIRD has not yet received any written notice from the DENR. The DENR has indicated that once affected companies receive such notice, they will then have seven days to provide a response.  Despite the DENR Secretary's justification for these closures being that the related MPSAs are located in restricted watershed areas, TVIRD's clear understanding is that the Balabag MPSA No.086-97-IX is not in a proclaimed watershed forest reserve where mining is prohibited. TVIRD is therefore confident that its Balabag MPSA is valid and can withstand any legal challenge.   \n\nMPSA No.086-97-IX relates to the Balabag gold-silver project which is owned 100% by TVIRD. TVIRD received approval for its Balabag Declaration of Mining Project Feasibility from the DENR in April 2016 after undergoing an exhaustive review. Its Environmental Compliance Certificate was granted by the DENR in October 2013.\n\n\"While TVIRD continues to support and to align itself with the DENR's efforts to ensure that all mining in the Philippines is carried out responsibly, to the highest environm...