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