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Green is the New Gold. UP 49ers. Legacy. Excellence. Virtuosity. YULO PEREZ Vice President, Philippine Operations TVI Resource Development (Phils.), Inc. This is an honor. Kudos, best wishes!. TVI RESOURCE DEVELOPMENT (PHILS.), INC. I will do my darn best. Genius without education
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Green is the New Gold. UP 49ers.Legacy. Excellence. Virtuosity. YULO PEREZ Vice President, Philippine Operations TVI Resource Development (Phils.), Inc.
Kudos, best wishes! TVI RESOURCE DEVELOPMENT (PHILS.), INC.
I will do my darn best. Genius without education is like gold in the mine.
Outline • California Gold Rush, 1849 • Who we are: TVIRD • What have remained, what have changed
The American Dream Pre-1849: to achieve“competency” Industriousness. Prudence. Frugality.
Rapid population growth Rising land costs Industrial revolution Expansion of banking and cash economy… But the dream turns to nightmare… …made farmers dependent on the market
The American Dream Post-1849: to escape from wage slavery Swashbuckling enterprise and good fortune.
Legacy California presented to people a new model for the American dream – one where the emphasis was on the ability to take risks, the willingness to gamble on the future.
Who we are TVI Resource Development (Phils.), Inc. • Affiliate of TVI Pacific Inc (TSX:TVI) • Operator of Canatuan Gold-Copper Project, Siocon, Zamboanga del Norte • Signatory to Mineral Production Sharing Agreement (MPSA) with Philippine government
Who we are TVI Resource Development (Phils.), Inc. • Began producing gold and silver in mid-2004 • First foreign-invested mine to reach production stage after the passage of the Philippine Mining Act of 1995 • 508-hectare mining concession within Siocon Subanon ancestral domain • Produced total of 140K oz of gold from 2005 to 2008
Who we are TVI Resource Development (Phils.), Inc. • Began constructing copper-zinc facilities in June 2008 • Started commissioning in November 2008 • Made first copper concentrate shipment in March 2009 • Completed sixth shipment in August 2009 (total of 30K dmt)
We take (and manage)risks. • Entered Canatuan while plagued with illegal small-scale mining • Offered better alternative to IPs, national gov’t, and small-scale miners in managing the resource • Implemented year-long cleanup of pollution left by small-scale mining • Relocated small-scale miners
We are a partner in progress. • Peace and security in plant and community manned by mostly Subanon security force. • IPs have many good reasons to secure Canatuan: royalty, employment, education, infrastructure, medical care, livelihood.
Thrift. Prudence.Industriousness. • Obtained US$30.1 million financing for Copper-Zinc Project despite credit crunch on account of good reputation built on operational expertise gained in Gold-Silver Project • Completed construction in just 6 months -- within time and under budget! • Made 1st shipment only 10 months after start of construction activities! • 7th shipment next week
Triple Bottom Line 49ers = PROFIT 94ers = PROFIT, PEOPLE, PLANET
Triple Bottom Line:PROFIT Improved cash position enables TVIRD to execute portion of growth plans: • Zinc Circuit • Power Line • Exploration of near mine tenements
Gold Rush Toll • California’s Indian population dwindles to 1/5 of pre-1849 size • Thousands die of diseases, displaced, enslaved, or killed • 4,000 children sold
Triple Bottom Line:PEOPLE • Subanon population doubles • Improved houses in settlement areas within their homeland • All have access to clinic • Children go to school • Adults undergo livelihood training, have access to microfinancing
Triple Bottom Line:PEOPLE Health &Sanitation Infrastructure SustainableLivelihood Responsive Education QUADRANTS OF DEVELOPMENT
Gold Rush Toll • 12,000 billion tons of earth dug up • Rivers excavated and hillsides blasted • Mercury used to extract gold from ore; 7,600 tons of toxic chemicals spill into rivers and lakes
Triple Bottom Line:PLANET • Tailings Management Gossan Dam Sulphide Dam
Triple Bottom Line:PLANET • Soil Loss and Erosion Management • Reclamation and Rehabilitation • Water Quality Monitoring
The 49ers’ Spirit lives! • “To look backward for a while is to refresh the eye, to restore it, and to render it the more fit for its prime function of looking forward.” • - Margaret Fairless Barber