TVI Pacific Inc. - Mining In The Philippines
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TVI Pacific Inc. - Mining In The Philippines TVI Pacific is a Canadian publicly traded copper producer focused on the development, exploration and acquisition of precious and base metal mining projects in the Philippines.
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TVI Pacific Inc. - Mining In The Philippines
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- 2. TVI Pacific is a publicly traded copper producer focused on the development, exploration and acquisition of precious and base metal mining projects in the Philippines.
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- 5. TVI is a ‘partner of choice’ in the Philippines • Reputation for ‘getting things done’ on time and under budget Gold/Silver Gossan Project – a low cost ‘bootstrap’ development Current Cu/Zn Sulphide Project – developed on time and under budget • Successfully performs under challenging conditions • Operates responsibly – socially and environmentally Has become a model operator
- 6. Calgary Office Clifford M. James, President & Chief 35+ years in the international natural resource sector; has held senior positions in Executive Officer both oil and gas and mining companies Rhonda Bennetto, Exec. Dir. Investor 15+ years investor relations and stakeholder marketing communication experience Communications and a leader in best practices and corporate compliance Manila Office Eugene T. Mateo, President Lawyer and a Certified Public Accountant with 37 years of experience as a Senior Finance and Management Executive John B. Ridsdel, Senior Vice President & 28 years international resource management including Country Manager for Petro- Chief Operating Officer Canada in Algeria, Myanmar, Pakistan - strong Government and Public Relations Yulo Perez, Vice President for Philippine Solid experience in project management and production processes and procedures. Operations 28 years in senior roles with INCO and BHP in Southeast Asia Luis Jovito A. Santos Jr., CPA with 18 years experience in financial management control, asset protection and Vice President for Finance treasury. Extensive experience with several significant Philippine companies Robert Jay Nelson, Vice President for Civil Engineer with 30 years in the field of consulting engineering. A Philippine Environment and Civil Works resident since 1994, was Country Manager, Philippines, for Knight-Piesold Rene de Ocampo, Vice President for 17 years of experience in Human Resources with expertise in Organizational Human Resources Development, Employee Relations and Compensation and Benefits Administration Renee P. Subido Vice President for 30+ years experience working in both private and government sectors in the area of Corporate Social Commitments management, enterprise development, trade and investment promotion
- 7. Shares Outstanding (mm) 487.5 Weekly Average Trading Volume (mm) 2.95 TSX Share Price $0.09 Basic Market Capitalization (mm) $43.9 Cash Balance (mm) $6.2 Insider Ownership 22% *As of June 30, 2010
- 8. YE H1 2009 2010 Performance Gross Revenue (mm) $73.3 $44.6 Operating Cash Flow (mm) $21.7 $16.5 Net Income before one-time charges (mm)(1) $18.3 $14.6 After exploration costs Net Income after one-time charges (mm)(1) $18.3 $7.2 After exploration costs Production Cash Cost ($USD per Cu lb eq) (2) $0.61 $0.76 Total Cash Cost ($USD per Cu lb eq) (3) $1.05 $1.17 Earnings per share (NI after one-time charges) $0.04 $0.015 1. One-time charges mainly relate to the $7.4 million penalties and related charges incurred in the early termination of a term facility. 2. Excludes selling expenses. The copper pound equivalent for H1 2010 was calculated using US$3.26/lb for copper, US$1,178.06/oz for gold and US$17.93/oz for silver . The following prices were used for YE 2009,US$2.56/lb for copper, US$1,018.35/oz for gold and US$15.50/oz for silver. 3. Includes selling expenses (marketing, freight, tax, treatment, refinement, royalties and taxes). The copper pound equivalent for H1 2010 was calculated using US$3.26/lb for copper, US$1,178.06/oz for gold and US$17.93/oz for silver . The following prices were used for YE 2009,US$2.56/lb for copper, US$1,018.35/oz for gold and US$15.50/oz for silver. 8
- 9. YE H1 Production 2009 2010 Production (m dmt Cu Concentrate) 50.1 26.0 Metals Produced Copper (mm lbs) 20.7 11.0 Zinc (mm lbs) - - Gold (m oz) 7.0 3.5 Silver (m oz) 532.1 297.0 9
- 10. Total TVIRD Zamboanga Tenement Area = 164,347 ha Tamarok Project Manila Mindanao Port Balabag Project Facility Greater Canatuan Tenements Canatuan Minesite
- 11. Initial Reserves (NI 43-101, 2008)* Proven & Probable 3,034,383 t @ 1.35% Cu, 1.05% Zn, 0.75 g/t Au & 36.09 g/t Ag Initial Resources* Measured & 3,787,969 t @ 1.10 % Cu, 0.87% Zn, Indicated 0.62 g/t Au & 30.17 g/t Ag (reserves included in resources) • Volcanic massive sulphide deposit (Cu / Zn / Au / Ag) • Plant commissioning complete March 1, 2009 • YTD production (01/01/10 – 06/30/10): - average 143 tonne / day Cu concentrates - average 2,162 tonne / day throughput - expected remaining mine life approximately 3.0 years • 16 concentrate shipments to date • Expand current Canatuan ore body and develop near mine prospects for mine life extension: - Prospects consistent with VMS mineralization at Canatuan -priority exploration planned, including airborne geophysical surveys
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- 15. EXPA 61 • Consistent with VMS style of Mineralization at Canatuan • Tabingan Banded sulphide unit ~400m exposure up to 20m thick Ore-grade sample results • Matigdao and Palalian Surface exposures with ore-grade sample results • Priority follow-up exploration planned including airborne geophysical surveys over the 352 km2 tenement area in September 2010 Other Near Mine Prospects • Several other prospects within trucking distance being evaluated
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- 17. Balabag Resources (NI 43-101, 2008) Indicated 1,371,105 t @ 2.90 g/t Au & 84.3 g/t Ag 203,700 AuEqOz 1,957,168 t @ 1.96 g/t Au & 55.2 g/t Ag Inferred 234,200 AuEqOz Epithermal Au / Ag deposit • Pre-2010 drill program - 106 holes for 11,569 m • 2010 drill program - 30 infill holes for 3,196 m Overall area of mineralization has been expanded Lateral and vertical continuity of mineralization between previously drilled holes has been confirmed Down dip extension of vein mineralization has also been confirmed • Potential for further down dip extension currently being tested by two drill holes
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- 20. 2010 drill program Pre 2010 drill program
- 22. • 50,000 AuEq Oz ‘initial target’ • Final Form, third party updated Resource Table due out late September/early October • 43-101 technical report to be completed by late October/early November • Internal Scoping Study to be completed by late December 2010 • Bootstrap staged mine development decision anticipated Q1 2011 • Initial production expected early 2012
- 23. TVI prepared to undertake new, larger, longer-life projects • Several projects currently being evaluated Large-scale Cu-Au projects • Well advanced • Near-term development possible • Prolonged producing life potential • Operationally and financially capable • Additional financing options being analyzed • Strategic partners being considered
- 24. Total TVIRD Zamboanga Tenement Area = 164,347 ha Tamarok Project Manila Mindanao Port Balabag Project Facility Greater Canatuan Tenements Canatuan Minesite
- 25. Multiple high-impact Cu / Au and Au prospects • Tamarok: - Potential for large-scale porphyry Cu / Au system - Exploration & drilling planned for 2010 - All permits in place • Tapisa: potential large-scale porphyry Cu / Au • Bonbon: potential large-scale epithermal Au (10 km long) • More than 20 additional prospects identified
- 26. • Tamarok and Tampakan share a similar geological setting • Over 150 depleted, developing or producing mines on Mindanao
- 27. For Comparison Purposes Only Tampakan Copper-Gold Project (associated with the Sindingan Cotobato Fault System) • Largest undeveloped copper-gold project in South East Asia and Western Pacific Region • Confirmation of a world-class, large scale project with a 2.4 billion tonnes mineral resource base containing 13.5 Mt copper and 15.8 Moz gold • Annual average production initially planned at 340,000 tonnes copper and 350,000 ounces gold, based on a 20 year operation • Project feasibility study submitted for review by Philippine Government in April 2010 • Cash cost US$0.46/lb of copper • Development of the $5.2 billion project likely to start as scheduled in January 2010 • Owned by Sagittarius Mines Inc. (Xstrata, Indophil Resources)
- 28. • Potential for large-scale porphyry copper-gold mineralization system • Exploration supports historical findings and has discovered new prospects • Free, prior and informed consent received from local community for Tamarok TVI Prospects • MPSA has been granted for Tamarok • Geological mapping, geophysical surveys and drilling program planned for 2010 • Pre-drilling exploration work underway
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- 30. Over 3 million man hours worked with only one lost time incident
- 31. An inherent function of our business Have earned tremendous, widespread community support Security personnel participate in Creating models for community livelihood projects Backyard poultry raising and marketing Farm products supply food for mine personnel 14 medical missions since 2009 Professionalizing the security organization Participation in Voluntary Principles on Security and Human Rights training Formed Emergency Response Team
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- 33. Health and Sanitation Built health clinic that provides free 24/7 healthcare and ambulance service to impact communities Provides health & wellness programs and activities Responsive Education Built 6 schools, currently 2,500 students, 56 high school graduates Provides teachers, learning tools, equipment Provides 48 college scholarships; 10 scholars have graduated from college Infrastructure Built 4 bridges and a spillway Built or improved 85 kms of roads providing access to education, livelihood and healthcare
- 34. Sustainable Livelihood Focused on sustainability = economics and social well-being of community Microfinance for women’s group Technical skills, training and apprentice programs 3 agri-production nurseries Royalty and Support for Ancestral Domain Extended technical and financial assistance for crafting of Ancestral Domain Sustainable Development and Protection Plan Royalty program in place Development for impact communities Initiated projects in areas outside Canatuan: Built Sta. Maria water system Built 11 kms. of farm-to-market road Provides employment during shipment days in Sta. Maria
- 35. Biodiversity 50% of mining area remains in original habitat condition More than 10% of all Philippine bird species can be found within the 508 ha operations area Watershed Management 90% of disturbed area subject to natural and structural sediment controls More than 25 locations within and around the operations area subject to daily, weekly and quarterly water quality monitoring Reclamation and Rehabilitation More than 200,000 trees have been planted since 2004. Greater than 5 times the original tree density US$ 2.5 million has been committed for post mining reclamation in addition to annual progressive rehabilitation programs
- 36. Tailings Management Four Tailings Storage Facilities constructed with three undergoing reclamation Current facility 70 m high with potential of additional 20 m expansion Monitoring Programs Monitoring by third party professionals completed on weekly, quarterly and annual basis to identify impacts and any needed mitigation measures Monitoring includes flora and fauna, aquatic habitat, air quality noise, water quality and health of host community residents Research Programs Onsite research and studies for passive wetland acid mine treatment using indigenous plants Onsite research and studies for tailings impoundment re-vegetation species
- 37. Market capitalization disconnect • Seeking Hong Kong Stock Exchange Listing Dual Primary Listing Research indicates likely re-rating of stock price Approximately 9 – 12 months to be listed Advisor appointed Sponsor to be appointed in near term • Currently listed on the TSX and OTCQX
- 38. TVI is poised for rapid growth • Solid Canatuan Mine platform Solid cash flow generator Extension/expansion potential • Near term Balabag gold project development Next mine • Potential new large-scale development projects • High-impact blue sky exploration potential with North Zamboanga tenements Drilling at Tamarok to commence in Q4
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- 42. Board of Directors Clifford M. James, M.Sc. Geologist and business executive with 35+ years of technical and financial Chairman experience in the natural resource sector. Has worked throughout North America, Africa and Asia and has held senior positions in both oil and gas and mining companies. Since 1993, Mr. James has spearheaded TVI’s activities in the Philippines and he is responsible for bringing the Canatuan project on stream. Robert C. Armstrong, Ph.D. 40+ years as a professional in the mining industry; has held senior and executive Lead Director positions for several mining companies including Cominco Ltd. and Echo Bay Mines Ltd. Currently President of Armstrong Associates International LLC., a private company involved in the mineral exploration industry. C. Brian Cramm, C.M.A. Held senior and executive management positions within the mining industry. Most Director recently 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. Jan R. Jorejsi, B.Sc. 30+ years of experience in the oil and gas industry throughout North America; serves Director as a director of a number of Canadian public companies . Most recently Senior Vice- President of North American Operations at Ranger Oil Limited. Peter C.G. Richards, LLB Articled with Reginald Tupper at Bull Housser Tupper Ray Guy & Merritt and then Director served with Richards Buell Sutton specializing in corporate and commercial law, wealth preservation, estate planning and business negotiations.