Business
TVI's Philippine Affiliate JV Completes Four Shipments of Nickel Ore in July 2015 at the Agata Nickel Laterite Project
TSX: TVI  OTCQB: TVIPF CALGARY , Aug. 4, 2015 TVI Pacific Inc. (TSX:TVI) (OTCQ...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\nTSX: TVI OTCQB: TVIPF\n\n\n\nCALGARY, Aug. 4, 2015 TVI Pacific Inc. (TSX:TVI) (OTCQB:TVIPF) (\"TVI\" or \"the Company\") and TVI's Philippine affiliate, TVI Resource Development (Phils.), Inc. (\"TVIRD\"), announce that Agata Mining Ventures Inc. (\"AMVI\"), a joint venture company in which TVIRD holds a 60% interest and is the operator, has completed four shipments of nickel ore in the month of July for gross proceeds of US$3.29 million from the Agata nickel laterite project located in northern Mindanao, the Philippines.  \n\nAMVI's shipment plans continue to adapt to depressed and volatile prices in the Philippine nickel laterite ore market.  Market prices for limonite ore containing 0.6% to 0.9% nickel and 49% iron content have fallen from an average of $22 per tonne in the earlier part of 2014 down to $13 per tonne when operations commenced in October 2014 and down to $11 in recent months.  For saprolite ore containing over 1.5% nickel and 15% to 20% iron, prices have fallen from over $100 per tonne in early 2014 to $27 per tonne in recent weeks.  In response, AMVI continues to explore and implement opportunities in its operational plans, mining activities and marketing strategies to increase cost efficiencies and to help ensure continual demand for its products.  Currently, AMVI is planning to complete approximately three to five shipments of nickel laterite ore in each coming month, subject primarily to weather conditions.\n\n\"As the operator, TVIRD has put in a tremendous amount of effort to ensure that the Agata nickel laterite operations remain viable and to align its mining activities with today's market conditions,\" stated Clifford James, Chairman and CEO of TVI and Chairman of TVIRD.  \"We continue to be optimistic that the Agata operations, along with developments at other TVIRD projects, will support TVIRD in seeking a listing on the Philippine Stock Exchange later this year and provide TVI with a significant potential source of funding for new projects.\"\n\nJuly Shipment Summary\n\nThe four shipments completed in July included three high iron/low nickel limonite ore shipments and one higher nickel grade saprolite ore shipment, representing the 15th through 18th shipments completed by AMVI since operations commenced in October 2014.  Details of the shipments are as fol...