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Mill Plant Site of the Balabag Gold Project under development as at October 24, 2020.
TVI Pacific Corporate Presentation
November 2020
Qualified Person Statement and Disclaimer
Qualified Person
Michael Bue, Bsc. Eng, M.Eng, P.Eng, a member of the Professional Engineers of Ontario and Canadian Institute of Mining and
Metallurgy, is the qualified person under NI43-101 who has approved the scientific and technical information in this presentation. Mr.
Bue is a mining engineer with over 35 years of experience with companies such as Queensland Nickel Ltd. (a former subsidiary of
BHP Billiton). Experience includes underground and open pit projects and operations; mineral exploration and mineral resource/ore
reserve evaluation; and project and mine management.
Forward-looking Statements
This presentation contains certain forward-looking information (referred to herein as "forward-looking statements"). Forward-looking
statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate",
"expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled", "to be", "will be" and similar expressions. Forward-
looking statements in this presentation are based upon the opinions and expectations of management of the Company as at the
effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been
correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual
outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are
not limited to, such things as inherent risks associated with the exploration and development of mining properties, ultimate
recoverability of mineral reserves, timing, results and costs of exploration and development activities, availability of financial
resources or third-party financing, new laws (domestic or foreign), changes in administrative practices, changes in exploration plans
or budgets, and availability of equipment and personnel.
Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this Presentation and such
forward-looking statements should not be interpreted or regarded as guarantees of future outcomes. The forward-looking statements
contained in this presentation are made as of the date hereof and TVI does not undertake any obligation to update publicly or to
revise any of the included forward-looking statements, except as required by applicable Canadian securities law. The forward-looking
statements contained herein are expressly qualified by this cautionary statement.
2
3
TVI Pacific Inc.
Overview
• TSXV-listed Canadian resource company focused on the production,
development, exploration and acquisition of diversified resource projects in the
Asia Pacific region.
• Through its then 100%-owned operating subsidiary, TVI Resource
Development (Phils.) Inc. (“TVIRD”), was successful developer/operator of
the Canatuan gold-silver/copper-zinc mine, the first foreign-invested mine to
reach production after the passage of the Philippine Mining Act of 1995.
• Management has the proven ability to develop and operate mines with low
initial CAPEX in challenging locations with award-winning safety,
environmental and social performance.
• Focused on repeating its success by searching for new resource opportunities
that can be rapidly developed and put into production.
• Currently holds a 30.66% interest in TVIRD, a private Philippine production
and development company that is seeking to list on the Philippine Stock
Exchange once market conditions stabilize and Philippine government policies
towards the mining industry are clearly defined.
• TVIRD’s current focus includes:
➢ Agata direct shipping Nickel/Iron project.
➢ Development of the Balabag Gold-Silver Project.
➢ Advancing the Agata Limestone Projects toward development and
production.
➢ Evaluation of other exploration and development projects in the Philippines
with potential for early cash flow generation.
Canatuan at time of operations.
Current operations at Agata direct shipping Nickel/Iron project.
Balabag Gold-Silver Project under development
at October 3, 2020.
4
TVI Pacific Inc.
Share Structure & Liquidity
Issued & Outstanding Shares 656.54 Million
Shares Fully Diluted 696.89 Million
52 Week High/Low C$0.030/$0.005
Market Capitalization (as at November 2, 2020) C$16.41 Million
Insider Share Direct / Fully Diluted 11.77% / 16.58%
Cash & Liquid Short-term Investments (as at October 31, 2020) $190,036
Cash Held Directly by Philippine Entities for Operational and Project Purposes:
(as at October 31, 2020)
19,756,708
$ (note 1, 2)
33,477,939 (note 3)
(6,320,106)
292,710
47,207,251
$
Notes:
1)
2)
3)
TVI holds a 30.66% interest in TVIRD.
TVIRD completed its final drawdown of the China Bank loan in May 2020 and the remaining balance of the drawn funds is now held
within the accounts of TVIRD and is managed directly to fund contractor and equipment suppliers as commitments come due.
TVIRD holds a 60% interest in AMVI.
TVI Resource Development (Phils.) Inc. ("TVIRD")
Agata Mining Ventures, Inc. ("AMVI")
AMVI - Rehabilitation Fund
Other
Total Philippine Entities
5
TVI Pacific Inc.
History of Success at the Canatuan Mine
• Located in the Province of Zamboanga del Norte on the Philippine
Island of Mindanao, Canatuan was the first foreign-invested mine to
reach production after the passage of the Philippine Mining Act of
1995.
• Mining operations focused initially on an overlying oxidized gossan
zone of the Canatuan orebody containing gold and silver and
subsequently on an underlying primary sulphide zone containing
copper and zinc.
• From 2004 to mid-2008 the mine produced over 105,200 ounces
of gold and 1.8 million ounces of silver doré for gross revenues
of US$86.0 million.
• Initial capex was ~US$10 million prior to 2005 and total capex was
US$29 million over the life of gold-silver operations.
• Once the upper zone of the orebody was mined out, a sulphide
flotation plant was completed in November 2008.
• From 2009 to 2014, TVIRD completed 39 shipments of copper
concentrate totaling 199,778 dry metric tonnes (dmt) and seven
shipments of zinc concentrate totaling 30,548 dmt for gross
revenues of US$393.0 million.
• Initial capex was US$28.3 million and total capex was $44.8 million
over the life of the copper/zinc operations.
6
TVI Pacific Inc.
Areas of Focus
• TVI’s management team has
extensive experience working
in Asia and has successfully
put multiple development
projects into production in the
Philippines.
• The Asia Pacific region is
also strategically located near
massive end markets for
various resources, thereby
ensuring low transportation
costs and ease of negotiating
offtake agreements.
7
TVI Pacific Inc.
Resource Acquisition & Development Strategy
• Acquiring or joint venturing with companies on resource deposits that may have a modest
initial resource size but with the potential for significant resource growth…
• Beginning operations as quickly as possible to generate revenues and cash flow…
• Using cash flows from operations to fund further exploration to grow the resource and
expand operations…
Benefits of this strategy include:
• Low upfront capital expenditures = lower risk
• Minimal dilution to shareholders as growth is self-financed
• Demonstration of economic and social benefits realized by local communities and
government entities to ensure continued support for expanded operations
Management’s resource acquisition and development strategy is
centered around the concept of…
Our Investments
9
TVI Pacific Inc.
Investment in TVIRD
TVI holds a 30.66% interest in TVI Resource
Development (Phils), Inc., a diversified Philippine
resource company.
TVIRD has declared and issued dividends to date in the amount
of C$7.76 million, of which TVI has received its share of C$2.02
million, net of Philippine dividend tax. C$0.38 million has been
received to date in 2020 by TVI.
AGATA
Nickel Laterite
Nickel Processing
Limestone
BALABAG
Gold-Silver
North
Zamboanga
Exploration
CANATUAN
Agribusiness & Exploration
LUZON
Manila
MINDANAO
TVIRD’s Key Activities include:
1) Expanding the Agata direct shipping Nickel/Iron
operations and increasing resources at the Agata
Nickel Laterite Mine.
2) Advancing the Balabag Gold-Silver Project towards
construction and production.
3) Advancing the Agata Limestone Projects toward
development and production.
10
TVI Pacific Inc.
TVIRD’s Agata Nickel / Iron Project
• Owned by Agata Mining Venture Inc. (“AMVI”), a Joint
Venture company in which TVIRD has a 60% interest and is
the operator.
• Project is located in the Surigao mining region of Mindanao
and benefits from excellent location and logistics with mining
areas located within a short distance of a private port in
Tubay, Agusan del Norte.
• Project initially had resources of 23 million tonnes of high
iron limonite ore (HFO) plus 10 million tonnes of saprolite
ore (SO) consisting of mid- and high-grade nickel ore.
• Commercial production began in October 2014 and over
15.96 million wet metric tonnes in 293 shipments of nickel
laterite ore have been shipped to October 31, 2020.
TVI Pacific Inc.
TVIRD’s Agata Nickel / Iron Project
Prices for High Iron Ore (“HFO”) and
saprolite (“SO”) have increased
significantly in 2020 resulting in
significant cash generation at the level
of AMVI and the distribution of
dividends by AMVI to TVIRD. For the
period January through September
2020, the average cost of producing
HFO and SO has been US $15 to $16
per wet metric tonne.
Agata DSO
Cargo 2014 2015 2016 2017 2018 2019
2020
(to Oct.31.2020)
Total
HFO 217,780 760,545 1,596,953 1,624,323 1,412,321 1,456,241 670,400 7,738,563
SO 617,690 1,936,163 1,515,234 1,060,455 1,167,608 1,927,880 8,225,030
Total 217,780 1,378,235 3,533,116 3,139,557 2,472,776 2,623,849 2,598,280 15,963,593
Agata DSO
Cargo 2014 2015 2016 2017 2018 2019
2020
(to Oct.31.2020)
Total
HFO 4 14 29 30 26 27 12 142
SO 11 37 28 19 21 35 151
Total 4 25 66 58 45 48 47 293
Volumes Shipped (wet metric tonnes)
Number of Shipments
31-Oct-19 30-Oct-20
HFO - 48% / 0.90% Ni 15.00
$ $ 31.00 - 32.00 110%
SO-1.3% Ni $ 15.00 - 16.00 49.00
$ 216%
SO-1.4% Ni 21.00
$ 56.00
$ 167%
Notes:
1) Source www.ferroalloynet.com; Prices are reported in $US.
Product
Percent
Change
FOB Transaction Price
per wet meteric tonne (note 1)
12
TVI Pacific Inc.
TVIRD’s Agata Limestone Project
• Owned by Agata Mining Venture Inc. (“AMVI”), a JV
company in which TVIRD has a 60% interest and is
operator.
• High grade, unusually impurity free, limestone deposits
are located both north and south of the Nickel / Iron
direct shipping operations and share the same
infrastructure that is expected to contribute to low
transport and handling costs.
Payong Payong Limestone Project
• Highly recrystallized limestone with low powdering rate.
• Feasibility studies continuing to assess feasibility of
developing hydrated lime and a higher value ground
calcium carbonate product marketable to the paper and
plastics industries in Asia.
• Application for the Environmental Compliance Certificate
(“ECC”) commenced in February 2020 and receipt is
expected in Q1 2021. Endorsements from the required
Local Government Units (“LGU”) have been received
and the balance of the permitting process is continuing
and is expected to be completed in 10 to 12 months from
the current date.
13
TVI Pacific Inc.
TVIRD’s Balabag Gold-Silver Project
Manila
CANATUAN
ZAMBOANGA PENINSULA
BALABAG
• TVIRD holds 100% of the mineral
production sharing agreement
(“MPSA”) area covering 4,779
hectares on the Balabag gold and
silver project.
• Located in the municipality of
Bayog and approx. 75 km east-
northeast of TVIRD’s former
flagship project, Canatuan.
• Low-sulphidation epithermal gold
and silver vein deposit with a
resource of 2.5 million tonnes
averaging 1.8 g/t gold and 47.8 g/t
silver.
• Orebody is open at depth and
laterally.
14
TVI Pacific Inc.
TVIRD’s Balabag Gold-Silver Project
TVI announced on November 22, 2019 that TVIRD had determined
to advance Balabag towards commercial production and was
progressing with various development works.
Omnibus Loan and Surety Agreement with China Banking
Corporation closed by TVIRD in October 2019 in the amount of US
$28.5 million with first drawdown completed on October 24, 2019
and the final drawdown completed in May 2020. The remaining
balance of the drawn funds is now held within the accounts of
TVIRD and is managed directly to fund contractor and equipment
suppliers as commitments come due.
TVI does not currently have any spending commitments with
respect to Balabag whatsoever. TVIRD is not funded by new
shareholder capital or shareholder loans and TVIRD does not have
the contractual right to compel TVI to provide any funding.
The plant from the former Canatuan processing plant has been
decommissioned, fully rehabilitated and is undergoing installation at
Balabag so as to reduce overall capital expenditures.
Project development has continued at Balabag amidst the COVID-
19 pandemic and required materials and supplies continue to arrive
to site.
Aerial view of Mill Plant Site of the Balabag Gold Project
on January 27, 2020.
Mill Plant Site of the Balabag Gold Project
on October 17, 2020.
15
TVI Pacific Inc.
TVIRD’s Balabag Gold-Silver Project
Development works have continued uninterrupted by the COVID-19 pandemic at Balabag since TVI announced on
November 22, 2019 that TVIRD had determined to advance the project towards commercial production.
Significant achievements include:
✓ Ongoing construction of the
Processing Plant including:
➢ Completion of the crushing area which
is now operating to prepare heap leach
materials;
➢ Rehabilitation works related to the
SAG mill and ball mills, including
installation of ball mill liners;
➢ Completion of the flotation circuit and
related hydrotesting;
➢ Ongoing piping and electrical works in
the concentrate leach circuit;
➢ Completion of piping for air and
electrical works in the carbon in leach
area and preparation for hydrotesting;
➢ Ongoing electrical works in the
detoxification area and preparation for
hydrotesting.
Hydrotesting of flotation cells on October 31, 2020. Hydrotesting of thickener on October 24, 2020.
Balabag Mill Plant on October 10, 2020.
16
TVI Pacific Inc.
TVIRD’s Balabag Gold-Silver Project
Significant achievements include: (continued)
Ongoing construction of the Gold Room on November 1, 2020.
Completion of power supply including load testing and synchronization of the 5 gensets.
Administration building on October 31, 2020.
Ongoing construction
of permanent
accommodations as
well as the
administration
building, warehouse,
met lab and assay
laboratory.
17
TVI Pacific Inc.
TVIRD’s Balabag Gold-Silver Project
Significant achievements include: (continued)
Placement of filter sand at Zone 2A chimney on November 2, 2020. Field density testing of 29th layer Section B Zone 1 of embankment
on October 26, 2020.
Continued stripping
and removal of waste
materials and the
placement, spreading
and compaction of
numerous layers for
the Tailings Storage
Facility (“TSF”),
affected in part by
above average
rainfall.
Photo: View of TSF
embankment from south side
looking towards the north
abutment and downstream
side of embankment. on October
19, 2020.
18
TVI Pacific Inc.
TVIRD’s Balabag Gold-Silver Project Exploration
LOCATION NO. OF HOLES METERAGE (m) NO. OF HOLES METERAGE (m) NO. OF HOLES METERAGE (m) NO. OF HOLES METERAGE (m)
Lalab 10 830.55 2 223.10
Miswi 2 237.55 13 1,074.40
Unao-unao 10 923.65 12 810.05
Mossad 4 140.70
TOTAL 268 31,945.00 12 1,068.10 16 1,287.45 25 1,884.45
TOTAL NO. OF DDH 321
TOTAL METERAGE 36,185.00
Phase 1 (2018) Phase 2 (2019) Phase 3 (2020)
YEAR 2005-2013
As of August 2020, 321 holes have been drilled for a total of 36,185 meters under the resource definition drilling
program at the Balabag project. Twenty-five drill holes with a total meterage of 1,884 meters were completed for
the Phase 3 drilling program. The recent drilling aimed to validate vein projections interpreted from underground
tunnels and previous drilling in Miswi, Lalab and Unao-Unao. Scout drilling was commenced at Mossad. Initial
results confirm vein continuity in Miswi both near surface and at depth. Significant vein intercepts were reported
from Unao-Unao area, where fault structures were also observed. Six holes were added to the original Phase 3
drilling program to test the northeast extension of Tinago.
Exploration work has also included mapping and sampling of underground tunnels, which has extended into
Mossad (north of Balabag hill). Data from the recent drilling campaign continues to be analyzed. The resource
model will be updated based on the results of the Phase 1, 2 and 3 drilling, following which a 43-101 compliant
Updated Resource Report will be prepared.
A Phase 4 drilling program has recently commenced. 33 holes will be drilled for a total of 3,000 meters. This
program will be focused on pursuing deeper vein extensions at Balabag Hill and testing two prospects located
north of Balabag Hill at Mossad and Daguman.
19
TVI Pacific Inc.
TVIRD’s Canatuan – The Pride Continues
TVI is proud to have performed the exploration and development at Canatuan as well as to have led the operations and
built the foundation for future rehabilitation of the mine. Following the end of mining and processing operations in
January 2014, decommissioning and rehabilitation activities within the disturbed areas commenced and has continued.
Canatuan Sulphide Dam – November 2012. Canatuan Sulfide Dam – June 2020
As at the current date, Canatuan is in the process of completing its final rehabilitation activities under the supervision of
the Multi-Partite Monitoring Team (“MMT”) that includes members of the Local Government Units (“LGU”),
representatives of the local community, the municipal and provincial government, and the Department of Energy &
Natural Resources (“DENR”, as representatives of the national government).
20
TVI Pacific Inc.
TVIRD’s Award Winning Approach
TVIRD
Award 2010 2011 2012 2013 2015* 2016* 2017* 2018* 2019*
Presidential Mineral Industry Environment Awards ("PMIEA"):
PMIEA Agata Agata
Platinum Canatuan Canatuan Agata
Titanium Canatuan Canatuan Agata Agata
Safest Mining Operation / Surface Operation
Winner Canatuan Canatuan
Safest Mineral Processing (Concentrator Category)
Winner Canatuan Canatuan Canatuan Canatuan
Best Mining Forest Award
2nd Runner Up Canatuan
3rd Runner Up Canatuan Canatuan
* 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 Comittee (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.
Record of Awards
Environmental awards received by TVI through its exceptional performance thus far at Canatuan and Agata include:
21
A future PSE listing would allow TVI to monetize portions of its TVIRD holdings which will represent a source
of non-dilutive funding for new project acquisition and development activities.
• TVIRD had been pursuing an Initial Public Offering and listing on the Philippine
Stock Exchange -- a Preliminary Prospectus in connection with the IPO was filed by
TVIRD with the PSE and Philippine Securities and Exchange Commission on October 7,
2015, and an updated version was filed on December 16, 2015.
• However, activities with respect to the listing have been put on hold since the new
Duterte Administration came into power in June 2016.
• TVIRD will resume the pursuit of a listing and IPO once the government’s position
on various mining policies has been clarified.
• If eventually listed, TVIRD’s market capitalization will be publicly available and the value of
TVI’s equity interest readily calculated.
• TVI will also have the opportunity to raise funds through a secondary offering in the IPO.
TVI Pacific Inc.
TVIRD - Future Philippine Stock Exchange Listing
• TVIRD has declared and issued dividends to date in the amount of C$7.76 million, of which TVI has received its
share of C$2.02 million, net of Philippine dividend tax. C$0.38 million has been received to date in 2020 by
TVI.
22
TVI Pacific Inc.
Investments in IGES & Mindoro
Integrated Green Energy Solutions Ltd. (formerly FOY Group Limited)
• TVI holds a 2.95% equity interest in Integrated Green Energy Solutions Ltd. (“IGES”), an ASX listed issuer
engaged in the commercialization of technologies to convert waste plastics to fuel in Australia and
internationally.
• The patented plastic-to-fuel technology converts waste products and plastics destined for landfill into a range
of fuels and products, including EN590 (Road Ready Diesel), EN228 (Road Ready Petrol), Naphtha, Marine
fuel and Marine Diesel Oil (MDO), as determined by the territory requirements for each individual site
location.
• IGES announced on March 8, 2018, that it had commenced site work on its Amsterdam project and reported
on October 1, 2019 that high-volume Near InfraRed technology to sort and separate plastics during the final
stages of the waste sorting process had been largely assembled and was being stored offsite. A second 50
tonnes per day (“TPD”) module arrived in July 2019 and was scheduled for installation at that time to allow
ramp-up to full capacity by November 2019, at which time production of finished product had been scheduled
in preparation for the first offtake sale in December 2019.
• Funding delays further hampered by the outset of the COVID-19 pandemic have reportedly stalled completion
of the Amsterdam project and the global strategy previously announced by IGES to establish sites in key
locations.
• The securities of IGES were suspended from trading on the ASX on January 20, 2020 and as at the date of
this presentation trading has not yet resumed. Share price at time of suspension was A$0.13.
Mindoro Resources
TVI holds a 14.4% equity stake in Mindoro Resources Ltd., which is a 15% joint venture partner with TVIRD in
Agata Mining Ventures Inc. (“AMVI”). AMVI controls the Agata Nickel Laterite Project and direct shipping Nickel /
Iron Operations as well as the Agata Limestone Project.
23
TVI Pacific Inc.
Investment Highlights
✓ As the successful operator of the Canatuan gold-silver/copper-zinc mine in the Philippines,
TVI is well-recognized for its ability to develop and operate mines with low capex in
challenging locations with award-winning safety, environmental and social performance.
✓ TVI is positioned as an ideal partner on new resource development opportunities in the Asia
Pacific region and is currently seeking advanced projects that it can quickly put into
production to generate cash flows.
✓ TVI Resource Development (Phils.) Inc. (“TVIRD”), in which TVI holds a 30.66% interest, is
progressing with development of its 100% owned Balabag Gold-Silver Project with a
resource of 2.5 million tonnes averaging 1.8 g/t gold and 47.8 g/t silver.
✓ TVIRD continues to successfully operate the Agata direct shipping Nickel / Iron project, in
which it holds a 60% interest, and has completed a total project-to-date of 293 shipments of
15.96 million wet metric tonnes of nickel laterite through to October 31, 2020.
✓ TVI expects its 30.66% interest in TVIRD to become a source of considerable shareholder
value creation and liquidity when TVIRD lists on the Philippine Stock Exchange.
24
TVI Pacific Inc.
Management Team
Clifford M. James
President and Chief Executive Officer
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 onstream 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 5 million tonnes of nickel laterite (a combination and nickel and iron ore) since commercial
operations began in 2014.
Patrick Hanna, CPA, CMA
Chief Financial Officer and VP Finance & Administration
Mr. Hanna is a Chartered Professional Accountant with more than 35 years of professional experience in both the mining and oil and gas
sectors. Prior to joining TVI in 2010, Mr. Hanna was Director of Financial Excellence, Kazakhmys Copper Corporation, Kazakhstan (from
2008 to 2010). In addition, Mr. Hanna has served as Finance Director of Berezitovy Mine (Russia), High River Gold (from 2006 to 2008),
General Director/Finance Director of JSC SeverTEK, a Russian oil & gas joint venture of Lukoil and Neste Oil (from 2002 to 2006), Vice
President – Project Finance at Glencore International’s Kazzinc mining interest (Kazakhstan, 1998 to 2000), and Finance Director of
Hurricane Kumkol Munai, a Kazakh oil & gas conglomerate (from 1997 to 1998). Mr. Hanna was previously also a Management
Consultant with Ernst & Young (Russia & CIS) (from 1995 to 1997).
Luis Santos Jr.
VP Business Development
Mr. Santos is a Certified Public Accountant with over 20 years of experience in the mining, audit, construction, and commercial and
residential development sectors. Prior to joining TVI in 2014, he was the Chief Financial Officer for TVI Resource Development (Phils.)
Inc. for 10 years. Before that, Mr. Santos held positions with a number of multinational companies including Guoco Holdings (of Hong
Leong Malaysia) and Bilfinger + Berger Phils (the Philippine arm of German construction company Bilfinger Germany). Mr. Santos
graduated with latin honors (cum laude) and class salutatorian from San Beda College in Manila, the Philippines.
25
Clifford M. James, Chairman – See bio on management page.
Robert C. Armstrong, Ph.D. -- 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.
C. Brian Cramm, CPA,CMA., -- 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.
Jan R. Horejsi, B.Sc. -- Mr. Horejsi is a business executive with over 40 years of experience in the oil and gas industry throughout North
America. Mr. Horejsi serves as a director of a number of Canadian companies 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.
David Moscovitz, LLB -- Mr. Moscovitz is a lawyer and consultant at Dentons Canada LLP with over 35 years of extensive experience in
acquisitions, divestments, dispositions, financings, joint ventures and other general business law. Prior to this, he was a Lawyer and
Partner at Goodman and Carr LLP.
TVI Pacific Inc.
Board of Directors
Corporate Head Office:
TVI Pacific Inc.
Suite 806, 505 – 2nd Street S.W.
Calgary, Alberta T2P 1N8
Tel: (403) 265-4356
Email: tvi-info@tvipacific.com
Investor Relations/Media Contact:
Patrick Hanna, Chief Financial Officer
Tel: 403-265-4356
E-mail: Patrick.Hanna@tvipacfic.com
TVI Pacific Inc.
Contact Information
26

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Tvi pacific-corporate-presentation-12.11.2020-final

  • 1. 1 Mill Plant Site of the Balabag Gold Project under development as at October 24, 2020. TVI Pacific Corporate Presentation November 2020
  • 2. Qualified Person Statement and Disclaimer Qualified Person Michael Bue, Bsc. Eng, M.Eng, P.Eng, a member of the Professional Engineers of Ontario and Canadian Institute of Mining and Metallurgy, is the qualified person under NI43-101 who has approved the scientific and technical information in this presentation. Mr. Bue is a mining engineer with over 35 years of experience with companies such as Queensland Nickel Ltd. (a former subsidiary of BHP Billiton). Experience includes underground and open pit projects and operations; mineral exploration and mineral resource/ore reserve evaluation; and project and mine management. Forward-looking Statements This presentation contains certain forward-looking information (referred to herein as "forward-looking statements"). Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled", "to be", "will be" and similar expressions. Forward- looking statements in this presentation are based upon the opinions and expectations of management of the Company as at the effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as inherent risks associated with the exploration and development of mining properties, ultimate recoverability of mineral reserves, timing, results and costs of exploration and development activities, availability of financial resources or third-party financing, new laws (domestic or foreign), changes in administrative practices, changes in exploration plans or budgets, and availability of equipment and personnel. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this Presentation and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes. The forward-looking statements contained in this presentation are made as of the date hereof and TVI does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable Canadian securities law. The forward-looking statements contained herein are expressly qualified by this cautionary statement. 2
  • 3. 3 TVI Pacific Inc. Overview • TSXV-listed Canadian resource company focused on the production, development, exploration and acquisition of diversified resource projects in the Asia Pacific region. • Through its then 100%-owned operating subsidiary, TVI Resource Development (Phils.) Inc. (“TVIRD”), was successful developer/operator of the Canatuan gold-silver/copper-zinc mine, the first foreign-invested mine to reach production after the passage of the Philippine Mining Act of 1995. • Management has the proven ability to develop and operate mines with low initial CAPEX in challenging locations with award-winning safety, environmental and social performance. • Focused on repeating its success by searching for new resource opportunities that can be rapidly developed and put into production. • Currently holds a 30.66% interest in TVIRD, a private Philippine production and development company that is seeking to list on the Philippine Stock Exchange once market conditions stabilize and Philippine government policies towards the mining industry are clearly defined. • TVIRD’s current focus includes: ➢ Agata direct shipping Nickel/Iron project. ➢ Development of the Balabag Gold-Silver Project. ➢ Advancing the Agata Limestone Projects toward development and production. ➢ Evaluation of other exploration and development projects in the Philippines with potential for early cash flow generation. Canatuan at time of operations. Current operations at Agata direct shipping Nickel/Iron project. Balabag Gold-Silver Project under development at October 3, 2020.
  • 4. 4 TVI Pacific Inc. Share Structure & Liquidity Issued & Outstanding Shares 656.54 Million Shares Fully Diluted 696.89 Million 52 Week High/Low C$0.030/$0.005 Market Capitalization (as at November 2, 2020) C$16.41 Million Insider Share Direct / Fully Diluted 11.77% / 16.58% Cash & Liquid Short-term Investments (as at October 31, 2020) $190,036 Cash Held Directly by Philippine Entities for Operational and Project Purposes: (as at October 31, 2020) 19,756,708 $ (note 1, 2) 33,477,939 (note 3) (6,320,106) 292,710 47,207,251 $ Notes: 1) 2) 3) TVI holds a 30.66% interest in TVIRD. TVIRD completed its final drawdown of the China Bank loan in May 2020 and the remaining balance of the drawn funds is now held within the accounts of TVIRD and is managed directly to fund contractor and equipment suppliers as commitments come due. TVIRD holds a 60% interest in AMVI. TVI Resource Development (Phils.) Inc. ("TVIRD") Agata Mining Ventures, Inc. ("AMVI") AMVI - Rehabilitation Fund Other Total Philippine Entities
  • 5. 5 TVI Pacific Inc. History of Success at the Canatuan Mine • Located in the Province of Zamboanga del Norte on the Philippine Island of Mindanao, Canatuan was the first foreign-invested mine to reach production after the passage of the Philippine Mining Act of 1995. • Mining operations focused initially on an overlying oxidized gossan zone of the Canatuan orebody containing gold and silver and subsequently on an underlying primary sulphide zone containing copper and zinc. • From 2004 to mid-2008 the mine produced over 105,200 ounces of gold and 1.8 million ounces of silver doré for gross revenues of US$86.0 million. • Initial capex was ~US$10 million prior to 2005 and total capex was US$29 million over the life of gold-silver operations. • Once the upper zone of the orebody was mined out, a sulphide flotation plant was completed in November 2008. • From 2009 to 2014, TVIRD completed 39 shipments of copper concentrate totaling 199,778 dry metric tonnes (dmt) and seven shipments of zinc concentrate totaling 30,548 dmt for gross revenues of US$393.0 million. • Initial capex was US$28.3 million and total capex was $44.8 million over the life of the copper/zinc operations.
  • 6. 6 TVI Pacific Inc. Areas of Focus • TVI’s management team has extensive experience working in Asia and has successfully put multiple development projects into production in the Philippines. • The Asia Pacific region is also strategically located near massive end markets for various resources, thereby ensuring low transportation costs and ease of negotiating offtake agreements.
  • 7. 7 TVI Pacific Inc. Resource Acquisition & Development Strategy • Acquiring or joint venturing with companies on resource deposits that may have a modest initial resource size but with the potential for significant resource growth… • Beginning operations as quickly as possible to generate revenues and cash flow… • Using cash flows from operations to fund further exploration to grow the resource and expand operations… Benefits of this strategy include: • Low upfront capital expenditures = lower risk • Minimal dilution to shareholders as growth is self-financed • Demonstration of economic and social benefits realized by local communities and government entities to ensure continued support for expanded operations Management’s resource acquisition and development strategy is centered around the concept of…
  • 9. 9 TVI Pacific Inc. Investment in TVIRD TVI holds a 30.66% interest in TVI Resource Development (Phils), Inc., a diversified Philippine resource company. TVIRD has declared and issued dividends to date in the amount of C$7.76 million, of which TVI has received its share of C$2.02 million, net of Philippine dividend tax. C$0.38 million has been received to date in 2020 by TVI. AGATA Nickel Laterite Nickel Processing Limestone BALABAG Gold-Silver North Zamboanga Exploration CANATUAN Agribusiness & Exploration LUZON Manila MINDANAO TVIRD’s Key Activities include: 1) Expanding the Agata direct shipping Nickel/Iron operations and increasing resources at the Agata Nickel Laterite Mine. 2) Advancing the Balabag Gold-Silver Project towards construction and production. 3) Advancing the Agata Limestone Projects toward development and production.
  • 10. 10 TVI Pacific Inc. TVIRD’s Agata Nickel / Iron Project • Owned by Agata Mining Venture Inc. (“AMVI”), a Joint Venture company in which TVIRD has a 60% interest and is the operator. • Project is located in the Surigao mining region of Mindanao and benefits from excellent location and logistics with mining areas located within a short distance of a private port in Tubay, Agusan del Norte. • Project initially had resources of 23 million tonnes of high iron limonite ore (HFO) plus 10 million tonnes of saprolite ore (SO) consisting of mid- and high-grade nickel ore. • Commercial production began in October 2014 and over 15.96 million wet metric tonnes in 293 shipments of nickel laterite ore have been shipped to October 31, 2020.
  • 11. TVI Pacific Inc. TVIRD’s Agata Nickel / Iron Project Prices for High Iron Ore (“HFO”) and saprolite (“SO”) have increased significantly in 2020 resulting in significant cash generation at the level of AMVI and the distribution of dividends by AMVI to TVIRD. For the period January through September 2020, the average cost of producing HFO and SO has been US $15 to $16 per wet metric tonne. Agata DSO Cargo 2014 2015 2016 2017 2018 2019 2020 (to Oct.31.2020) Total HFO 217,780 760,545 1,596,953 1,624,323 1,412,321 1,456,241 670,400 7,738,563 SO 617,690 1,936,163 1,515,234 1,060,455 1,167,608 1,927,880 8,225,030 Total 217,780 1,378,235 3,533,116 3,139,557 2,472,776 2,623,849 2,598,280 15,963,593 Agata DSO Cargo 2014 2015 2016 2017 2018 2019 2020 (to Oct.31.2020) Total HFO 4 14 29 30 26 27 12 142 SO 11 37 28 19 21 35 151 Total 4 25 66 58 45 48 47 293 Volumes Shipped (wet metric tonnes) Number of Shipments 31-Oct-19 30-Oct-20 HFO - 48% / 0.90% Ni 15.00 $ $ 31.00 - 32.00 110% SO-1.3% Ni $ 15.00 - 16.00 49.00 $ 216% SO-1.4% Ni 21.00 $ 56.00 $ 167% Notes: 1) Source www.ferroalloynet.com; Prices are reported in $US. Product Percent Change FOB Transaction Price per wet meteric tonne (note 1)
  • 12. 12 TVI Pacific Inc. TVIRD’s Agata Limestone Project • Owned by Agata Mining Venture Inc. (“AMVI”), a JV company in which TVIRD has a 60% interest and is operator. • High grade, unusually impurity free, limestone deposits are located both north and south of the Nickel / Iron direct shipping operations and share the same infrastructure that is expected to contribute to low transport and handling costs. Payong Payong Limestone Project • Highly recrystallized limestone with low powdering rate. • Feasibility studies continuing to assess feasibility of developing hydrated lime and a higher value ground calcium carbonate product marketable to the paper and plastics industries in Asia. • Application for the Environmental Compliance Certificate (“ECC”) commenced in February 2020 and receipt is expected in Q1 2021. Endorsements from the required Local Government Units (“LGU”) have been received and the balance of the permitting process is continuing and is expected to be completed in 10 to 12 months from the current date.
  • 13. 13 TVI Pacific Inc. TVIRD’s Balabag Gold-Silver Project Manila CANATUAN ZAMBOANGA PENINSULA BALABAG • TVIRD holds 100% of the mineral production sharing agreement (“MPSA”) area covering 4,779 hectares on the Balabag gold and silver project. • Located in the municipality of Bayog and approx. 75 km east- northeast of TVIRD’s former flagship project, Canatuan. • Low-sulphidation epithermal gold and silver vein deposit with a resource of 2.5 million tonnes averaging 1.8 g/t gold and 47.8 g/t silver. • Orebody is open at depth and laterally.
  • 14. 14 TVI Pacific Inc. TVIRD’s Balabag Gold-Silver Project TVI announced on November 22, 2019 that TVIRD had determined to advance Balabag towards commercial production and was progressing with various development works. Omnibus Loan and Surety Agreement with China Banking Corporation closed by TVIRD in October 2019 in the amount of US $28.5 million with first drawdown completed on October 24, 2019 and the final drawdown completed in May 2020. The remaining balance of the drawn funds is now held within the accounts of TVIRD and is managed directly to fund contractor and equipment suppliers as commitments come due. TVI does not currently have any spending commitments with respect to Balabag whatsoever. TVIRD is not funded by new shareholder capital or shareholder loans and TVIRD does not have the contractual right to compel TVI to provide any funding. The plant from the former Canatuan processing plant has been decommissioned, fully rehabilitated and is undergoing installation at Balabag so as to reduce overall capital expenditures. Project development has continued at Balabag amidst the COVID- 19 pandemic and required materials and supplies continue to arrive to site. Aerial view of Mill Plant Site of the Balabag Gold Project on January 27, 2020. Mill Plant Site of the Balabag Gold Project on October 17, 2020.
  • 15. 15 TVI Pacific Inc. TVIRD’s Balabag Gold-Silver Project Development works have continued uninterrupted by the COVID-19 pandemic at Balabag since TVI announced on November 22, 2019 that TVIRD had determined to advance the project towards commercial production. Significant achievements include: ✓ Ongoing construction of the Processing Plant including: ➢ Completion of the crushing area which is now operating to prepare heap leach materials; ➢ Rehabilitation works related to the SAG mill and ball mills, including installation of ball mill liners; ➢ Completion of the flotation circuit and related hydrotesting; ➢ Ongoing piping and electrical works in the concentrate leach circuit; ➢ Completion of piping for air and electrical works in the carbon in leach area and preparation for hydrotesting; ➢ Ongoing electrical works in the detoxification area and preparation for hydrotesting. Hydrotesting of flotation cells on October 31, 2020. Hydrotesting of thickener on October 24, 2020. Balabag Mill Plant on October 10, 2020.
  • 16. 16 TVI Pacific Inc. TVIRD’s Balabag Gold-Silver Project Significant achievements include: (continued) Ongoing construction of the Gold Room on November 1, 2020. Completion of power supply including load testing and synchronization of the 5 gensets. Administration building on October 31, 2020. Ongoing construction of permanent accommodations as well as the administration building, warehouse, met lab and assay laboratory.
  • 17. 17 TVI Pacific Inc. TVIRD’s Balabag Gold-Silver Project Significant achievements include: (continued) Placement of filter sand at Zone 2A chimney on November 2, 2020. Field density testing of 29th layer Section B Zone 1 of embankment on October 26, 2020. Continued stripping and removal of waste materials and the placement, spreading and compaction of numerous layers for the Tailings Storage Facility (“TSF”), affected in part by above average rainfall. Photo: View of TSF embankment from south side looking towards the north abutment and downstream side of embankment. on October 19, 2020.
  • 18. 18 TVI Pacific Inc. TVIRD’s Balabag Gold-Silver Project Exploration LOCATION NO. OF HOLES METERAGE (m) NO. OF HOLES METERAGE (m) NO. OF HOLES METERAGE (m) NO. OF HOLES METERAGE (m) Lalab 10 830.55 2 223.10 Miswi 2 237.55 13 1,074.40 Unao-unao 10 923.65 12 810.05 Mossad 4 140.70 TOTAL 268 31,945.00 12 1,068.10 16 1,287.45 25 1,884.45 TOTAL NO. OF DDH 321 TOTAL METERAGE 36,185.00 Phase 1 (2018) Phase 2 (2019) Phase 3 (2020) YEAR 2005-2013 As of August 2020, 321 holes have been drilled for a total of 36,185 meters under the resource definition drilling program at the Balabag project. Twenty-five drill holes with a total meterage of 1,884 meters were completed for the Phase 3 drilling program. The recent drilling aimed to validate vein projections interpreted from underground tunnels and previous drilling in Miswi, Lalab and Unao-Unao. Scout drilling was commenced at Mossad. Initial results confirm vein continuity in Miswi both near surface and at depth. Significant vein intercepts were reported from Unao-Unao area, where fault structures were also observed. Six holes were added to the original Phase 3 drilling program to test the northeast extension of Tinago. Exploration work has also included mapping and sampling of underground tunnels, which has extended into Mossad (north of Balabag hill). Data from the recent drilling campaign continues to be analyzed. The resource model will be updated based on the results of the Phase 1, 2 and 3 drilling, following which a 43-101 compliant Updated Resource Report will be prepared. A Phase 4 drilling program has recently commenced. 33 holes will be drilled for a total of 3,000 meters. This program will be focused on pursuing deeper vein extensions at Balabag Hill and testing two prospects located north of Balabag Hill at Mossad and Daguman.
  • 19. 19 TVI Pacific Inc. TVIRD’s Canatuan – The Pride Continues TVI is proud to have performed the exploration and development at Canatuan as well as to have led the operations and built the foundation for future rehabilitation of the mine. Following the end of mining and processing operations in January 2014, decommissioning and rehabilitation activities within the disturbed areas commenced and has continued. Canatuan Sulphide Dam – November 2012. Canatuan Sulfide Dam – June 2020 As at the current date, Canatuan is in the process of completing its final rehabilitation activities under the supervision of the Multi-Partite Monitoring Team (“MMT”) that includes members of the Local Government Units (“LGU”), representatives of the local community, the municipal and provincial government, and the Department of Energy & Natural Resources (“DENR”, as representatives of the national government).
  • 20. 20 TVI Pacific Inc. TVIRD’s Award Winning Approach TVIRD Award 2010 2011 2012 2013 2015* 2016* 2017* 2018* 2019* Presidential Mineral Industry Environment Awards ("PMIEA"): PMIEA Agata Agata Platinum Canatuan Canatuan Agata Titanium Canatuan Canatuan Agata Agata Safest Mining Operation / Surface Operation Winner Canatuan Canatuan Safest Mineral Processing (Concentrator Category) Winner Canatuan Canatuan Canatuan Canatuan Best Mining Forest Award 2nd Runner Up Canatuan 3rd Runner Up Canatuan Canatuan * 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 Comittee (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. Record of Awards Environmental awards received by TVI through its exceptional performance thus far at Canatuan and Agata include:
  • 21. 21 A future PSE listing would allow TVI to monetize portions of its TVIRD holdings which will represent a source of non-dilutive funding for new project acquisition and development activities. • TVIRD had been pursuing an Initial Public Offering and listing on the Philippine Stock Exchange -- a Preliminary Prospectus in connection with the IPO was filed by TVIRD with the PSE and Philippine Securities and Exchange Commission on October 7, 2015, and an updated version was filed on December 16, 2015. • However, activities with respect to the listing have been put on hold since the new Duterte Administration came into power in June 2016. • TVIRD will resume the pursuit of a listing and IPO once the government’s position on various mining policies has been clarified. • If eventually listed, TVIRD’s market capitalization will be publicly available and the value of TVI’s equity interest readily calculated. • TVI will also have the opportunity to raise funds through a secondary offering in the IPO. TVI Pacific Inc. TVIRD - Future Philippine Stock Exchange Listing • TVIRD has declared and issued dividends to date in the amount of C$7.76 million, of which TVI has received its share of C$2.02 million, net of Philippine dividend tax. C$0.38 million has been received to date in 2020 by TVI.
  • 22. 22 TVI Pacific Inc. Investments in IGES & Mindoro Integrated Green Energy Solutions Ltd. (formerly FOY Group Limited) • TVI holds a 2.95% equity interest in Integrated Green Energy Solutions Ltd. (“IGES”), an ASX listed issuer engaged in the commercialization of technologies to convert waste plastics to fuel in Australia and internationally. • The patented plastic-to-fuel technology converts waste products and plastics destined for landfill into a range of fuels and products, including EN590 (Road Ready Diesel), EN228 (Road Ready Petrol), Naphtha, Marine fuel and Marine Diesel Oil (MDO), as determined by the territory requirements for each individual site location. • IGES announced on March 8, 2018, that it had commenced site work on its Amsterdam project and reported on October 1, 2019 that high-volume Near InfraRed technology to sort and separate plastics during the final stages of the waste sorting process had been largely assembled and was being stored offsite. A second 50 tonnes per day (“TPD”) module arrived in July 2019 and was scheduled for installation at that time to allow ramp-up to full capacity by November 2019, at which time production of finished product had been scheduled in preparation for the first offtake sale in December 2019. • Funding delays further hampered by the outset of the COVID-19 pandemic have reportedly stalled completion of the Amsterdam project and the global strategy previously announced by IGES to establish sites in key locations. • The securities of IGES were suspended from trading on the ASX on January 20, 2020 and as at the date of this presentation trading has not yet resumed. Share price at time of suspension was A$0.13. Mindoro Resources TVI holds a 14.4% equity stake in Mindoro Resources Ltd., which is a 15% joint venture partner with TVIRD in Agata Mining Ventures Inc. (“AMVI”). AMVI controls the Agata Nickel Laterite Project and direct shipping Nickel / Iron Operations as well as the Agata Limestone Project.
  • 23. 23 TVI Pacific Inc. Investment Highlights ✓ As the successful operator of the Canatuan gold-silver/copper-zinc mine in the Philippines, TVI is well-recognized for its ability to develop and operate mines with low capex in challenging locations with award-winning safety, environmental and social performance. ✓ TVI is positioned as an ideal partner on new resource development opportunities in the Asia Pacific region and is currently seeking advanced projects that it can quickly put into production to generate cash flows. ✓ TVI Resource Development (Phils.) Inc. (“TVIRD”), in which TVI holds a 30.66% interest, is progressing with development of its 100% owned Balabag Gold-Silver Project with a resource of 2.5 million tonnes averaging 1.8 g/t gold and 47.8 g/t silver. ✓ TVIRD continues to successfully operate the Agata direct shipping Nickel / Iron project, in which it holds a 60% interest, and has completed a total project-to-date of 293 shipments of 15.96 million wet metric tonnes of nickel laterite through to October 31, 2020. ✓ TVI expects its 30.66% interest in TVIRD to become a source of considerable shareholder value creation and liquidity when TVIRD lists on the Philippine Stock Exchange.
  • 24. 24 TVI Pacific Inc. Management Team Clifford M. James President and Chief Executive Officer 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 onstream 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 5 million tonnes of nickel laterite (a combination and nickel and iron ore) since commercial operations began in 2014. Patrick Hanna, CPA, CMA Chief Financial Officer and VP Finance & Administration Mr. Hanna is a Chartered Professional Accountant with more than 35 years of professional experience in both the mining and oil and gas sectors. Prior to joining TVI in 2010, Mr. Hanna was Director of Financial Excellence, Kazakhmys Copper Corporation, Kazakhstan (from 2008 to 2010). In addition, Mr. Hanna has served as Finance Director of Berezitovy Mine (Russia), High River Gold (from 2006 to 2008), General Director/Finance Director of JSC SeverTEK, a Russian oil & gas joint venture of Lukoil and Neste Oil (from 2002 to 2006), Vice President – Project Finance at Glencore International’s Kazzinc mining interest (Kazakhstan, 1998 to 2000), and Finance Director of Hurricane Kumkol Munai, a Kazakh oil & gas conglomerate (from 1997 to 1998). Mr. Hanna was previously also a Management Consultant with Ernst & Young (Russia & CIS) (from 1995 to 1997). Luis Santos Jr. VP Business Development Mr. Santos is a Certified Public Accountant with over 20 years of experience in the mining, audit, construction, and commercial and residential development sectors. Prior to joining TVI in 2014, he was the Chief Financial Officer for TVI Resource Development (Phils.) Inc. for 10 years. Before that, Mr. Santos held positions with a number of multinational companies including Guoco Holdings (of Hong Leong Malaysia) and Bilfinger + Berger Phils (the Philippine arm of German construction company Bilfinger Germany). Mr. Santos graduated with latin honors (cum laude) and class salutatorian from San Beda College in Manila, the Philippines.
  • 25. 25 Clifford M. James, Chairman – See bio on management page. Robert C. Armstrong, Ph.D. -- 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. C. Brian Cramm, CPA,CMA., -- 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. Jan R. Horejsi, B.Sc. -- Mr. Horejsi is a business executive with over 40 years of experience in the oil and gas industry throughout North America. Mr. Horejsi serves as a director of a number of Canadian companies 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. David Moscovitz, LLB -- Mr. Moscovitz is a lawyer and consultant at Dentons Canada LLP with over 35 years of extensive experience in acquisitions, divestments, dispositions, financings, joint ventures and other general business law. Prior to this, he was a Lawyer and Partner at Goodman and Carr LLP. TVI Pacific Inc. Board of Directors
  • 26. Corporate Head Office: TVI Pacific Inc. Suite 806, 505 – 2nd Street S.W. Calgary, Alberta T2P 1N8 Tel: (403) 265-4356 Email: tvi-info@tvipacific.com Investor Relations/Media Contact: Patrick Hanna, Chief Financial Officer Tel: 403-265-4356 E-mail: Patrick.Hanna@tvipacfic.com TVI Pacific Inc. Contact Information 26