TVI Pacific (TSE:TVI) has released an update.
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TVI Pacific Inc. celebrates a significant achievement as its 30.66% owned TVIRD subsidiary’s Balabag gold and silver mine in the Philippines reached the 100th doré shipment milestone since beginning production in July 2021. The mine, which declared commercial production in November 2021, has contributed to gross revenues of $32.6 million with the recent shipments, showcasing an increase in production efficiency and recovery rates. The Balabag mine, underpinned by a robust Mineral Production Sharing Agreement, has demonstrated enhanced performance with increased mill throughput and high recovery percentages for gold and silver.
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