RE:RE:RE:RE:RE:Now TVIRD can focus on the 3 main projects.....see news..Not a major worry. TVIRD only owns 1% and has to spend in order to get to 60 %.
Pan de Azucar TVIRD has an option to earn a 60% interest in the Pan de Azucar (“PDA”) Mining Joint Venture. At present the PDA Mining Joint Venture is held by Minimax (59%), Mindoro (40%, through MRL Nickel Philippines, Inc.) and TVIRD (1%). TVIRD holds an option to earn a 60% interest. PDA is covered by MPSA 135-99-VI (held by Minimax) covering an area of 535 hectares, with an expiry date of July 2024. The MPSA is located on Pan de Azucar island and adjacent to Panay Island, central Philippines, 200 nautical miles to the northwest of the Agata nickel/iron DSO mine. The sixth (6th) renewal of the exploration permit has been granted on May 23, 2022, for a two-year period. There is as yet no approved DMPF or ECC. The Valderama massive sulphide is comprised of a pyrite-rich mineralized horizon exposed at the surface and is adjacent to a porphyry copper-gold system. Mindoro previously drilled 31 drillholes with an average depth of 1,023 meters. TVIRD is currently focused on activities related to: (1) developing an exploration program; (2) pre-project planning, including identifying possible locations for a port, roads and the waste rock dump; (3) permitting and community relations; and, (4) assessing possible joint venture opportunities. Drill rigs have been mobilized to Pan de Azucar in October 2023 with the expectation to conduct resource drilling for 60 days.