TVI PACIFIC LTD., THE CANADIAN AFFILIate of mining firm TVI Resource Development (Philippines) Inc., registered a strong third quarter, driven mainly by successes registered at the Canatuan project in Zamboanga del Norte.

?A number of factors have contributed to our financial and operational success over the past three quarters. Through steady process improvements at Canatuan, the team has been able to decrease average production cash costs, demonstrating that we continue to deliver on our operational targets. This, combined with strong copper prices, resulted in a considerable improvement in our cash position,? TVI president and chief executive Cliff James said in a statement posted on the TVIRD website.

In regulatory filings in Canada, TVI said its net income for the quarter that ended September reached C$9.9 million ($9.5 million), 1,367 percent better than the $676,000 posted the quarter before.

For the first nine months, profit amounted to about C$8.8 million ($8.4 million).

Operating cash flow almost doubled to C$11.4 million ($10.9 million) at the end of the third quarter, from the C$6.2 million ($5.9 million) posted in the second quarter.

At the end of the third quarter, operating cash flow was placed at almost $10.4 million.

?This has allowed us to start construction on the Zinc Circuit well ahead of schedule and accelerate exploration and development activities at Canatuan and Balabag, and exploration projects at Tamarok,? James said.

TVIRD is now preparing to produce zinc concentrates by putting up an additional flotation circuit to process zinc ore at the Canatuan mine.

The zinc circuit, James earlier said, would enable TVIRD to cash in on the zinc that it would soon be able to mine, further jacking up overall revenues.

The facility should be fully operational by late April 2010.