has multiple opportunities for near and medium term cash flow potential in the Philippines through four joint venture agreements with TVI Resource Development (Phils.), Inc. ("TVIRD").
Iron - nickel laterite project is being advanced in two stages under joint ventures with TVIRD:
Pan de Azucar Project:
- DSO Joint Venture:
- Feasibility study is near completion for a Direct Shipping Ore (DSO) project, leading, subject to economic viability and final permitting, to commencing a DSO operation in 2014.
- Mindoro carried to production
- Processing Joint Venture:
- Pilot testing is underway, followed by a definitive feasibility study in 2014.
- Mindoro carried through to completion of the study
Sulphur-copper-gold Exploration Target to be advanced through DSO and Processing joint ventures with TVIRD.