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Company Toledo Mining Corporation PLC
TIDM TMC
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Operations Report for the Berong Nickel Mine - 4th Quarter 2012

Released 07:00 28-Jan-2013
Number HUG1673397

Operations Report for the Berong Nickel Mine - 4th Quarter 2012

 
 

28 January 2013

Toledo Mining Corporation plc
("Toledo" or the "Company") (AIM:TMC)
OPERATIONS REPORT FOR THE BERONG NICKEL MINE - 4th QUARTER 2012

Toledo Mining Corporation plc (AIM:TMC) ("Toledo" or the "Company") is pleased to update shareholders on the operating activities of the Berong Nickel Corporation ("BNC") for the quarter ended 31 December 2012.

Production of run-of-mine (ROM) ore from the Berong mine during the quarter amounted to 155,844 wmt at an average grade of 1.84% Ni.  Stockpiles at the year end totalled 230,416 wmt at an average grade of 1.46% Ni.

Direct ore shipping operations resulted in a further five shipments during the period, shipments 11 to 15:

M/V Ace Gate   50,019 wmt @ 1.82% Ni
M/V Qi Xiang 51,703 wmt @ 1.51% Ni
M/V Aqua Atlantic   54,402 wmt @ 1.55% Ni
M/V River Globe 52,260 wmt @ 1.83% Ni
M/V Jing Yang   46,620 wmt @ 1.64% Ni

The 15 shipments made during the calendar year have amounted to sales in excess of 777,000 wmt ore yielding over 8,750 tonnes of contained nickel metal and generating gross revenues to BNC of approximately US$ 29.0 million.

For further information, please visit www.toledomining.com or contact:

Victor  Kolesnikov, Chief Executive Officer, Toledo  Mining Corporation    
+44 (0) 20 7290 3100

Richard  Morrison/Jen Boorer, RFC Ambrian Limited                            
+44 (0) 20 3440 6800

Anthony Shewell, Fin Public Relations  
+44 (0) 20 7608 2280

Carina Corbett,  4C Communications Ltd            
+44 (0) 20 3170 7973

Notes to Editors

The Berong mine is operated by the Berong Nickel Corporation, which is a Joint Venture,  with the following economic interests : Toledo Mining Corporation (56.2%), Atlas Consolidated Mining and Development (25.2%) and DMCI Mining (18.6%).

Definitions:

Run of Mine ( ROM ) : ore refers to the bulk ore which is produced in the mine pit (s)

Wmt (Wet metric tonnes):  weight of ore in tonnes including moisture content.




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Toledo Mining Corporation PLC via Thomson Reuters ONE

HUG#1673397

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Operations Report for the Berong Nickel Mine - 4th Quarter 2012 - RNS