None
SEDAR Interim Financial Statements
TVI · Price
[
{
"companyName": "TVI Pacific Inc.",
"reportingPeriodEnd": "2025-06-30",
"reportStatus": "Unaudited",
"auditorName": "Davidson & Company LLP",
"auditorKeyMatters": [],
"balanceSheet": {
"currentAssets": {
"cashAndCashEquivalents": 166360,
"accountsReceivable": 21484,
"prepaidExpenses": 62264,
"totalCurrentAssets": 250108
},
"nonCurrentAssets": {
"investmentInJointVenture": 38237640,
"propertyAndEquipment": 8406,
"otherAssets": 6,
"totalNonCurrentAssets": 38246052
},
"totalAssets": 38496160,
"currentLiabilities": {
"accountsPayableAndAccruedLiabilities": 127608,
"dueToRelatedParties": 3572060,
"loansAndAccruedInterestPayable": 1289465,
"totalCurrentLiabilities": 4989133
},
"nonCurrentLiabilities": {
"loans": 0,
"deferredTaxLiability": 456691,
"totalNonCurrentLiabilities": 456691
},
"totalLiabilities": 5445824,
"shareholdersEquity": {
"shareCapital": 34374277,
"contributedSurplus": 7326748,
"deficit": -3121651,
"translationReserves": -5529038,
"totalEquity": 33050336
},
"totalLiabilitiesAndEquity": 38496160,
"derivedMetrics": {
"cashPerShare": 0.0002,
"workingCapitalPerShare": -0.0065
}
},
"incomeStatement": {
"sixMonthsEndedJune302025": {
"depreciationExpense": 1379,
"administrativeAndGeneralCosts": 566191,
"totalExpenses": 567570,
"operatingLoss": -567570,
"interestIncomeExpenseNet": -51987,
"foreignExchangeGainLoss": -8571,
"shareOfIncomeOfJointVenture": 11393574,
"otherIncomeExpensesNet": 11333016,
"netIncomeLossBeforeIncomeTax": 10765446,
"deferredIncomeTaxExpenseRecovery": 0,
"netIncomeLoss": 10765446,
"weightedAverageSharesBasic": 728587039,
"weightedAverageSharesDiluted": 728587039,
"basicIncomeLossPerShare": 0.01,
"dilutedIncomeLossPerShare": 0.01
},
"sixMonthsEndedJune302024": {
"depreciationExpense": 1359,
"administrativeAndGeneralCosts": 1108123,
"totalExpenses": 1109482,
"operatingLoss": -1109482,
"interestIncomeExpenseNet": -116451,
"foreignExchangeGainLoss": 2498,
"shareOfIncomeOfJointVenture": -742386,
"otherIncomeExpensesNet": -856338,
"netIncomeLossBeforeIncomeTax": -1965820,
"deferredIncomeTaxExpenseRecovery": 0,
"netIncomeLoss": -1965820,
"weightedAverageSharesBasic": 728587039,
"weightedAverageSharesDiluted": 728587039,
"basicIncomeLossPerShare": -0.00,
"dilutedIncomeLossPerShare": -0.00
}
},
"cashFlowStatement": {
"sixMonthsEndedJune302025": {
"netIncomeLoss": 10765446,
"depreciationExpense": 1379,
"unrealizedForeignExchangeGainLoss": -8440,
"interestExpense": 50966,
"shareOfLossGainsOfJointVenture": -11393574,
"changesInNonCashWorkingCapital": -399967,
"changesInRetirementBenefitPayable": 0,
"distributionFromInvestmentInJointVentureNetOfTax": 966667,
"netCashUsedInOperatingActivities": -17523,
"netCashFromFinancingActivities": 0,
"netCashUsedInInvestingActivities": 0,
"effectOfForeignExchangeRatesOnCash": -426,
"netIncreaseDecreaseInCashAndCashEquivalents": -17949,
"cashAndCashEquivalentsAtBeginningOfPeriod": 184310,
"cashAndCashEquivalentsAtEndOfPeriod": 166360
},
"sixMonthsEndedJune302024": {
"netIncomeLoss": -1965820,
"depreciationExpense": 1359,
"unrealizedForeignExchangeGainLoss": 2694,
"interestExpense": 0,
"shareOfLossGainsOfJointVenture": 742386,
"changesInNonCashWorkingCapital": 212756,
"changesInRetirementBenefitPayable": 11991,
"distributionFromInvestmentInJointVentureNetOfTax": 0,
"netCashUsedInOperatingActivities": -997103,
"netCashFromFinancingActivities": 984932,
"netCashUsedInInvestingActivities": -1937,
"effectOfForeignExchangeRatesOnCash": 2723,
"netIncreaseDecreaseInCashAndCashEquivalents": -11385,
"cashAndCashEquivalentsAtBeginningOfPeriod": 266155,
"cashAndCashEquivalentsAtEndOfPeriod": 254768
}
},
"investmentsAndOtherAssets": [
{
"type": "Joint Venture",
"description": "30.66% interest in TVI Resource Development Phils., Inc. (TVIRD), operator of the Balabag gold/silver mine, Siana gold mine, 60% interest in Agata nickel laterite and DSO projects, interests in Agata processing project, and 60% indirect interest in Mt. Labo Exploration and Development Corporation (Mabilo copper-gold project)",
"ownershipPercentage": 30.66,
"value": 38237640,
"notes": "Accounted for using the equity method. Carrying value includes share of net income and comprehensive loss, adjusted for dividends received."
},
{
"type": "Investment in Associate",
"description": "14.4% equity interest in Mindoro Resources Ltd., a Canadian-incorporated company engaged in mining and exploration in the Philippines",
"ownershipPercentage": 14.4,
"value": 0,
"notes": "Book value reduced to nil due to cumulative share of net losses. Shares delisted from NEX in May 2021."
}
],
"shareStructure": {
"authorizedShares": "Unlimited",
"issuedShares": 728587039,
"classesOfShares": [
"common voting shares",
"preferred non-voting shares"
],
"warrants": [],
"options": [],
"rightsConvertibleInstruments": null
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"2025-06-30": {
"salaries": 90000,
"shareBasedCompensation": 0,
"directorsFees": 108000,
"total": 198000
},
"2024-06-30": {
"salaries": 0,
"shareBasedCompensation": 0,
"directorsFees": 59813,
"total": 59813
}
},
"namedIndividuals": [
{
"name": "Not Disclosed",
"title": "New CEO and CFO",
"period": "2025-06-30",
"components": {
"salary": 90000,
"bonus": null,
"total": 90000
}
},
{
"name": "Not Disclosed",
"title": "New Directors",
"period": "2025-06-30",
"components": {
"salary": null,
"bonus": null,
"total": 108000
}
}
],
"otherRelatedPartyTransactions": [
{
"counterparty": "TVIRD (Joint Venture)",
"description": "Dividend received, net of Philippine withholding tax",
"amount": 966667,
"period": "2025-06-30"
},
{
"counterparty": "Regent Parkway (controlled by TVIRD Chairman)",
"description": "Administrative services provided",
"amount": 0,
"period": "2025-06-30"
}
]
},
"subsequentEvents": []
}
]
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