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TVI's 30.66% owned TVIRD Responds to DENR Recommendation to Cancel Balabag MPSA
TVI's 30.66% owned TVIRD Responds to DENR Recommendation to Cancel Balabag MPSA Ca...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\n\n\nTVI's 30.66% owned TVIRD Responds to DENR Recommendation to Cancel Balabag MPSA\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.prngen2{\nBORDER-BOTTOM:1pt; TEXT-ALIGN: LEFT; BORDER-LEFT:1pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:1pt; BORDER-RIGHT:1pt\n}\n.prntblns{\nBORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Feb. 27, 2017\n\n\n\nCALGARY, Feb. 27, 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 filed a response on February 23 to the Show Cause letter received from the Philippine Department of Environment and Natural Resources (\"DENR\") further to their announcement at a news conference on February 14 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.  The cancelation stems from the DENR claim that the Contract Area is within a watershed.  (The Show Cause letter received by TVIRD, together with TVIRD's response and their detailed news release summarizing the matter can be viewed on TVI's website located at www.tvipacific.com.)\n\nIn both the response to the Show Cause letter, dated February 13 but received only on February 17, and a news release issued by TVIRD on February 23, TVIRD has emphasized their position to be that there exists no grounds to validly cancel, terminate or suspend the MPSA between the government and TVIRD as there is neither violation of the terms of the MPSA nor of any law, rule or regulation that would merit its cancellation, termination or suspension.  TVIRD defends its position in that:  \n\n\n\n\ni.\n\n\nThere is no absolute ban on mining operations in \"watershed\" areas;\n\n\n\nii.\n\n\nThe Contract Area of the MPSA is not located within the vicinity of any of the Philippine's list of 206 proclaimed watershed ...