Overview

TVI Pacific Inc. (“TVI”) is a publicly-traded Canadian resource company focused on the acquisition of diversified resource projects in the Asia Pacific Region.

Led by a management team with the proven ability to design, build and operate mines, TVI’s corporate strategy is to acquire advanced resource projects that can be rapidly explored, developed and ultimately put into production to generate revenues and cash flow. Since 2004, management has successfully opened three mines in the Philippines with profitable operations and award winning safety, environmental and social performance.

TVI management’s track record of success includes putting the first foreign-invested mine into production in the Philippines after the passage of the Philippine Mining Act of 1995. From 2004 to 2014, TVI produced 105,200 ounces of gold, 1.8 million ounces of silver, 199,778 tonnes of copper concentrate and 30,558 tonnes of zinc concentrate from the Canatuan mines and was recognized as one of the most responsible miners in the Philippines. Up until 2014, TVI carried out its work through its 100% owned Philippine operating subsidiary, TVI Resource Development (Phils.) Inc. (“TVIRD”), of which it divested control in December 2014 but maintains a 30.66% interest.

TVI management’s track record of success has continued with the Agata nickel laterite project, Agata Mining Ventures Inc. (“AMVI”), which commenced operations in October 2014 and has since shipped a total of 10.2 million wet metric tonnes through 187 shipments as at the end of September 2018. AMVI is a joint venture company between TVIRD (60%), Mindoro Resources Ltd. (“Mindoro”) (15%) and Minimax (25%), in which TVIRD is operator. The Agata Direct Shipping Ore (“DSO”) Project site is strategically located within proximity to main markets in Asia and bears the opportunity for shipping all year round. TVIRD is focused on maximizing the production and sale of higher nickel grade saprolite ore in order to secure the highest selling prices and to maximize revenues, and also produces high iron limonite ore when market conditions are favorable.

Environmental awards received by TVI through its exceptional performance thus far at Canatuan and Agata include:

  • TVIRD received awards up through 2013 as operator of the Canatuan Mine and commencing 2015 has received awards as operator of the Agata Mining Ventures Inc. DSO operations since start-up of operations in October 2014.  The Presidential Industry Environmental Award (“PMIEA”) is the highest award given by the PMIEA Selection Committee (PMIEA-SC).  Mining companies which fall short of the PMIEA requirements but exhibited excellent performance in environment, safety, health, and social development are awarded with the PMIEA-SC Achievement Awards, namely the Platinum and Titanium awards. 

The Philippine entity, TVIRD, is currently focused on maximizing its valuation for a listing on the PSE, which would also maximize its investment value for TVI, by focusing on the following areas of growth:

  • Developing, operating and expanding Nickel laterite DSO operations and increasing resources at the Agata Nickel Laterite Mine.
  • Advancing the Balabag Gold-Silver Project towards construction and production.
  • Advancing the Agata Limestone Projects toward development and production.
  • Advancing the Agata Aggregate Projects toward development and production.
  • Evaluation of other exploration and development projects in the Philippines with potential for early cash flow generation.

In addition to the 30.66% equity interest TVI currently holds in TVIRD, TVI holds an approximate 4% equity interest in Integrated Green Energy Solutions Ltd (“IGES”), a publicly listed company incorporated in Australia with shares listed on the Australian Stock Exchange (“ASX”). IGES is focused on converting waste plastic that is destined for landfill or discarded into the environment, into valuable road ready fuels. IGES has a patented waste plastic to fuels process that results in output that meets the EN590 standard.

The Canatuan Experience

TVI Pacific was the first foreign resource company to put a mine into production in the Philippines after the passage of the Philippines Mining Act of 1995. From 2004 to 2014, TVI successfully operated the Canatuan gold/silver and copper/zinc mine located in the Province of Zamboanga del Norte, on the Philippine island of Mindanao.

Between 2004 and 2008, the Canatuan gold-silver mine produced a total of 105,200 ounces of gold and 1.8 million ounces of silver dore -- generating gross revenues of US$86.0 million and net cash flows of US$29.0 million. And from 2009 to 2014, the Canatuan copper-zinc mine produced a total of 199,778 dry metric tonnes of copper concentrate and 30,548 dry metric tonnes of zinc concentrate for gross revenues of US$393.0 million and net cash flows of US$151.0 million.

Throughout its operations, TVI (through its subsidiary TVI Resource Development Phils.Inc) was recognized year after year at the annual Philippine Mine Safety and Environmental Conference for operating at the highest industry standards for safety and environmental protection.

Today, TVI is considered a 'partner of choice' and a model operator in the eyes of the Canatuan communities, the Philippine government and various regulators. See the presentation and videos below to learn more.

Board of Directors

Clifford M. JamesChairman

Mr. James has been Chairman, President and Chief Executive Officer of TVI Pacific Inc. since January 1987, and Chairman of TVI Resource Development Phils, Inc. since 2006. Mr. James is a geologist and business executive with over 45 years of technical and financial experience in the natural resource sector. His work has taken him throughout North America, Africa and Asia where he has held senior positions in both Oil & Gas and mining companies. Mr. James spearheaded TVI Pacific’s activities in the Philippines and is responsible for bringing on stream the Canatuan project, the first foreign funded, modern, full-scale producing mine in the Philippines since the passage of the Mining Act in 1995. At Canatuan, Mr. James developed two highly successful mining operations, one that produced 105,200 ounces of gold and 1.8 million ounces of silver 2004 to 2008; and another that produced 199,778 tonnes of copper concentrate and 30,558 tonnes of zinc concentrate from 2009 to 2014. From 2012 to present, Mr. James successfully developed a third mine into production in the Philippines, the Agata project, which has now produced close to 10 million tonnes of nickel laterite since commercial operations began in 2014.

Robert C. ArmstrongPh.D.Lead Director

Dr. Armstrong has over 40 years of experience in the mining industry, having worked in senior and executive positions for companies such as Cominco Ltd. and Echo Bay Mines Ltd., with both domestic and foreign responsibilities for mineral exploration and mining operations. He is currently President of Armstrong Associates International LLC, a private company involved in the mineral exploration industry based out of Denver, Colorado.

Dr. Armstrong has been a member of the Board of TVI since June 1998 as the Lead Director and sits on the Compensation Committee and the Corporate Governance & Nominating Committee.

C. Brian CrammCPA, CMADirector

Mr. Cramm has held both senior and executive management positions within the mining industry. Most recently he was Vice President, Chief Financial Officer & Treasurer for General Minerals Corporation and he has held the position of Vice President Corporate Development for both Echo Bay Mines Ltd and Crystallex International. Currently, Mr. Cramm is President of Number Sense, Corp., providing consulting services to the mining industry in Canada and the US focusing on finance, deal making, and executive management.

Mr. Cramm has been a member of the Board of TVI since June 1997 and sits on the Compensation Committee and is Chairman of the Audit Committee.

Jan R. HorejsiB.Sc.Director

Mr. Horejsi is a business executive with over 40 years of experience in the oil and gas industry throughout North America. Mr. Horejsi is President, CEO, and a director of Shooting Star Petroleum Ltd. and was most recently President and CEO of Jadex International, a junior oil and gas exploration company. Prior to that, he was the Senior Vice-President of North American Operations at Ranger Oil Limited, a Canadian oil and gas exploration and production company.

Mr. Horejsi has been a member of the TVI Board since December 1991 and sits on the Audit Committee and the Corporate Governance & Nominating Committee, and is Chairman of the Compensation Committee.

David Moscovitz LLBDirector

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