TVI AGM Presentation June 10, 2015
Qualified Person Statement and Disclaimer Qualified Person Mike Bue, Bsc. Eng, M.Eng, P.Eng, Technical Advisor and Project Advisory Group member of TVI and a member of the Professional Engineers of Ontario and Canadian Institute of Mining and Metallurgy, is the qualified person under NI43-101 who has approved the scientific and technical information in this presentation. Forward-looking Statements This presentation contains certain forward-looking information (referred to herein as "forward-looking statements"). Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled", "to be", "will be" and similar expressions. Forward- looking statements in this presentation are based upon the opinions and expectations of management of the Company as at the effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as inherent risks associated with the exploration and development of mining properties, ultimate recoverability of mineral reserves, timing, results and costs of exploration and development activities, availability of financial resources or third-party financing, new laws (domestic or foreign), changes in administrative practices, changes in exploration plans or budgets, and availability of equipment and personnel. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this Presentation and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes. The forward-looking statements contained in this presentation are made as of the date hereof and TVI does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable Canadian securities law. The forward-looking statements contained herein are expressly qualified by this cautionary statement. 2
Where we have been… 3
TVI – Significant Events in H2/2014-H1/2015 TVIRD ACTIVITIES In July 2014, TVI completed various investment and financing transactions with Prime Resource Holding Inc. • relating to TVIRD to raise total proceeds of US$10.64 million. TVI now holds a 30.66% equity interest in TVIRD and reports its interest as an investment in joint venture in its financial statements. In October 2014, TVI announced that AMVI, a joint venture company owned 60% by TVIRD, has successfully • launched direct shipping ore operations at the Agata nickel laterite project. In November 2014, TVI announces that API, a joint venture company in which TVIRD has the right to earn into a • 60% interest, was in the final phase of completing a Definitive Feasibility Study at the Agata Nickel Processing project. TVI also announced that AMVI has commenced a large scale exploration program at the Agata nickel laterite project to upgrade and increase the project’s existing resources. Additionally, AMVI had commenced an exploration program at the Agata Limestone project to establish an initial resource estimate. In December 2014, TVI announced that TVIRD was in the final phase of permitting at the Balabag gold-silver • project. In May 2015, TVI announced that AMVI has completed its large scale drilling program at the Agata nickel laterite • project and is in the process of completing an updated technical report due in the third quarter of 2015. As of May 2015, TVI announced that AMVI has made 13 shipments of nickel laterite ore totaling 641,361 wet • metric tonnes of limonite ore and 60,369 wet metric tonnes of saprolite ore for gross proceeds of $11.23 million. 4
TVI – Significant Events in H2/2014-H1/2015 CASH POSITION & NEW PROJECT OPPORTUNITIES At the end of October 2014, TVI forms Project Advisory Group consisting of independent, seasoned • mining, exploration and project assessment experts who will be assisting TVI in evaluating new opportunities in the Asia Pacific Region. In November 2014, TVI announced that Foyson Resources, a company in which TVI held a 20.04% • equity interest at the time (now 26%) had entered into a business arrangement to acquire the licenses to technologies that converts waste plastics to fuel and biomass to energy and fuel. TVI ended Q3/2014 with $6.2 million in cash and short-term investments. • In early November 2014, TVI enters Heads of Terms agreement with Kalo Resources to conduct due • diligence on the Cirianiu Gold Project in Fiji for a possible joint venture investment. TVI ended the 2014 year with $5.3 million in cash and short term investments. • At the end of April 2015, TVI announced the extension of the due diligence program at the Cirianiu Gold • Project in Fiji in order to conduct an auger soil geochemical survey and possible confirmation drilling ahead of making an investment decision. TVI ended Q1/2015 with $4.7 million in cash and short-term investments. • 5
Share Price Performance Current Share Price (TSX: TVI) $0.015 Issued & Outstanding Shares 655.4 Million Market Capitalization $9.83 Million Average daily 3-month volume 83,256 6
State of Resource Sector GLD (SPDR Gold Shares) – down 21% S&P/TSX Venture Composite – down 71% • • CUPM (iPath Pure Beta Copper ETN) – down 38% GDXJ (Junior Gold Miners ETF) – down 85% • • SLX (Market Vectors Steel Index) – down 55% • NINI (iPath Bure Beta Nickel ETN) – down 55% • COPX (Global X Copper Miners ETF) – down 59% • SLV (iShares Silver Trust) from) – down 60% • 7
Where we are headed… 8
Self- Financing via TVIRD’s PSE Listing TVIRD is currently a PRIVATE company held 30.66%* by TVI Pacific and • Philippine Investment company Prime Resource Holdings. Due to its private status, North American markets do not have a way of • determining the value of TVI’s interest in TVIRD. TVIRD has commenced the process of listing on the Philippine Stock • Exchange (PSE) which includes the following activities: Broker Evaluation & Selection Process • Due Diligence & Pre-filing with the PSE • Registration and Approval by the PSE & Pre-Marketing • Road Show • IPO & Listing • Upon TVIRD’s listing on the PSE, TVIRD’s market capitalization will be • publicly available and the value of TVI Pacific’s interest readily calculated. The PSE listing will provide liquidity for TVI to sell its equity stake at any • time to support its own acquisition and development efforts. TVIRD’s Listing on the PSE will put a tangible dollar value on TVI’s investment and provide TVI with the ability to liquidate its position to raise funds for its own project acquisition and development activities * TVI has the option to increase its ownership of TVIRD to 31.6% once TVIRD lists on the Philippine Stock Exchange 9
TVIRD Valuation Drivers 1) Projected net income from laterite direct shipping ore (“DSO”) operations LUZON and increasing NI43-101 compliant resources at the Agata Nickel Laterite Project Manila 2) Receipt of DMPF approval and commencement of development at the Balabag Gold-Silver Project AGATA 3) Finalizing a Definitive Feasibility Study Nickel Laterite at the Agata Nickel Processing Project. Nickel Processing Limestone BALABAG Gold-Silver 4) Defining an initial NI43-101 resource MINDANAO estimate at the Agata Limestone Project. * TVI has the option to increase its ownership of TVIRD to 31.6% once TVIRD lists on the Philippine Stock Exchange 10
TVIRD’s Agata Nickel DSO Project • Owned by Agata Mining Venture Inc. (AMVI), a Joint Venture company in which TVIRD has a 60% interest and is the operator. • Project is located in the Surigao mining region of Mindanao and benefits from excellent location and logistics with mining areas located within 3.5 kilometres of a private port in Tubay, Agusan del Norte. • Project has resources of 10 million tonnes of high iron limonite ore plus 23 million tonnes of saprolite ore consisting of mid and high grade nickel ore. • Commercial operations began in October 2014 and a total of 13 nickel laterite ore shipments have been completed to date containing 641,361 wmt of limonite ore and 60,369 wmt of saprolite ore with gross value of US$11.23 million. • Since December 2014, the loading port has been expanded to up to 12,000 wmt capacity with a workforce of over 650 people. • Original 2015 target production of 2.5 million. However, the production schedule is currently under review given drop in DSO prices. 11
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