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Tuesday, 17th August 2004 (3976 views)

Mining firm TVI Pacific has revealed that production has started at its Canatuan gold and silver mine in the Philippines. <BR/><BR/>The announcement comes at a key time, as it offers positive future prospects following second quarter results where profits were low.<BR/><BR/>In addition to the Philippines site, the company is also exploring for gold in China.<BR/><BR/>Clifford James, president and CEO told 940 news: "Commencement of mining and processing at Canatuan, together with an expected almost doubling of throughput in October, will result in sustainable cash flow in the near term."<BR/><BR/>Figures from the firm's second quarter results showed that revenue during the period was up by 68 per cent to $662,126, caused by stronger activity at the Edco drilling division.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3240696"/>

 

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