TVI Pacific announces solid financial results for three month period ended March 31, 2007
On a gold equivalent basis, the Canatuan mine production increased 14% to 13,308 AuEqOz in the first
Quarter over the same period in 2006.
- Operating Revenue – $10.5 million in Q1/07 vs $8.8 million in Q1/06
- Cash Flow From Operations – $1.3 million in Q1/07 vs $2.7 million in Q1/06
- Canatuan Mine Net Income – $2.4 million in Q1/07 vs $1.4 million in Q1/06
- April Mine Performance Shows Significant Advance Leading Into Q2
TVI Pacific Inc. (TSX: “TVI” or the “Company”) today announced solid consolidated financial results for the first quarter of 2007 compared to the same period last year. The Company posted total operating revenue of $10.5 million compared with $8.8 million; Cash flow from operations of $1.3 million compared with $2.7 million. The Canatuan Mine posted an increase in net income of 67% to $2.4 million. However, allocation of cash to an aggressive exploration program, primarily at Balabag (now approximately 80% complete) resulted in a consolidated net loss of $838,060 for the quarter. All dollar amounts set out in this news release are expressed in Canadian currency unless otherwise noted. The Company’s President and CEO will provide commentary, via a pre-recorded webcast presentation, of these results along with an update on operations and exploration May 15, 2007.