Toledo Mining Corporation PLC Toledo Mining Corporation Plc:operations Report For The Berong Nickel Mine - Q1 2013
April 30 2013 - 1:02AM
UK Regulatory
TIDMTMC
Toledo Mining Corporation plc
("Toledo" or the "Company") (AIM:TMC)
Operations Report for the Berong Nickel Mine - First Quarter 2013
Toledo Mining Corporation plc is pleased to update shareholders on the
operating activities of the Berong nickel mine for the quarter ended 31
March, 2013.
Production of run-of-mine ore from Berong Nickel Corporation's ("BNC")
Berong nickel mine in this quarter was 229,006 wmt at an average grade
of 1.93% Ni.
Direct ore shipping operations resumed in early March when the shipping
window reopened for the Berong port. This resulted in three shipments
during Q1 2013:
M/V Jin Hui 48,865 wmt @ 1.84% Ni
M/V Jin Han 59,930 wmt @ 1.75% Ni
M/V SITC Taishan 55,000 wmt @ 1.64% Ni
As at 31 March, total coastal stockpiles of all ore amounted to
SHY240,226 wmt with an average grade of 1.52% Ni. During the quarter BNC
utilized uneconomic low grade ore from inventory for base preparation of
a new stockpile area covering an additional 14 hectares.
After the quarter end, the following shipment was completed:
M/V Josco Nanjing 48,500 wmt @ 1.70% Ni
In addition, the following shipments are currently loading:
M/V Bao Sheng 40,000 wmt @ 1.2% Ni (43% Fe)
M/V Hanjin Santana 55,000 wmt @ 1.8% Ni
These first six shipments are forecast to generate revenue to BNC of
approximately US$ 10.12 million and to yield approximately 3,400 tonnes
of contained nickel.
For further information please visit www.toledomining.com or contact:
Victor Kolesnikov, CEO, 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#1697574
http://www.toledomining.com/
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