TVI Pacific Inc (OTCMKTS:TVIPF) (TSXV:TVI) Stock Consolidates After The Recent Move

Shares of TVI Pacific Inc (OTCMKTS:TVIPF) (TSXV: TVI) have been moving within a narrow range over the past few sessions.

Market Stats

On Tuesday, TVIPF stock ended flat at $0.0227 with more than 50k shares, compared to its average volume of 19k shares. The stock has moved within a range of $0.0227 – 0.0227 after opening trading at $0.0256.

Mining and Projects Update at TVI Pacific’s 30.66% owned TVIRD

TVI Pacific Inc (OTCMKTS:TVIPF) (TSXV: TVI) on January 25, 2022, provided an update on the different mines as well as projects operated and held by TVI Resource Development Phils, Inc a Philippines corporation, having 30.66 % holding by TVI.

While the Balabag gold mine has finished nine shipments to date amounting to 8,643 kg comprising 8,889 ounces of gold as well as 263,258 ounces of silver, the gross proceeds were the US $22.2 million.

Phase 6 drilling program is likely to be initiated at the site in the year including 49 drillholes of 4,500 meters and 428 drillholes with a total meterage of 47,521.35 meters. TVI also confirmed on Agata Mining Ventures Inc finishing total project-to-date 346 shipments of 18.84 million wet metric tonnes of nickel laterite till the end of last year.

Cliff James, Chairman, and CEO of TVI and Chairman of TVIRD said that the firm is excited about the present portfolio of projects and operating mines at TVIRD. James added that the continued focus on ramping up production at Balabag and restarting Siana Gold Mine with other exploration programs will add potential value to both TVIRD and TVI Pacific.

Balabag mine covers 4,779-hectare Mineral Production Sharing Agreement located within the Municipality of Bayog, The first shipment of gold was finished in September last year. The company has to date made four payments against the 5-year term loan with China Banking Corporation.

Key Quote

“We are very excited with the current portfolio of operating mines and projects at TVIRD”, said Mr. Cliff James, Chairman and CEO of TVI and Chairman of TVIRD, “With the continuing focus to ramp-up production at Balabag and to restart the Siana Gold Mine while moving forward with our various exploration programs, TVIRD remains focused to add potential value to both TVIRD and TVI Pacific.”

Traders Corner

TVIPF stock is trading below the 20-Day and 50-Day Moving averages of $0.0266 and $0.0297 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0371.