On January 31, 2022, TVIRD obtained control of SageCapital...

On January 31, 2022, TVIRD obtained control of SageCapital Partners, Inc. (“SageCapital” through the acquisition of all of its outstanding capital stock. SageCapital is a holding company incorporated under the laws of the Philippines which, in turn, owns 60% of the outstanding capital stock of Mt. Labo Exploration and Development Corporation (“MLEDC”, a Philippines mining and minerals exploration development company whose projects are based in Camarines Norte, Philippines, and which is the owner and operator of the Mabilo Project (“Mabilo”.

With a near-surface deposit, Mabilo has potential for direct shipping ore (“DSO” operations and it is contemplated that mining will use an open-pit mining method. The Mabilo mineralized deposit is classified as a copper-gold-iron skarn deposit that offers potential for multi-metal products, namely copper, gold and silver, with by-products magnetite (Fe3O4) and pyrite (FeS2).

A NI 43-101 Technical Report prepared by Lycopodium Minerals Pty Ltd. and filed on May 2, 2016, under the SEDAR profile of RTG Mining Inc. (“RTG”, which holds a 40% interest in MLEDC through SRM Gold, reflects a historical Probable Mineral Reserves estimate of 7.8Mt at 2.0% Cu, 2.0g/t Au, 8.8g/t Ag and 45.5% Fe for Mabilo.

TVIRD is currently proceeding with various organizational, community-related, permitting and site clean-up matters while considering next steps at Mabilo.

On May 23, 2023, TVI announced that TVIRD and SageCapital have signed a binding agreement (the “Agreement” with RTG with respect to an agreed restructuring of Mabilo.

The Agreement provides the opportunity to now focus on finalizing the remaining permitting matters and financing plans for Mabilo, together with surface rights, following which a commitment to development is expected to be formalized by the Board of MLEDC

https://www.tvipacific.com/projects/overview/default.aspx.