Toledo Mining Corporation PLC Toledo Mining Corporation Plc :operations Report For The Berong Nickel Mine - Third Quarter 2013
30 Settembre 2013 - 10:02AM
UK Regulatory
TIDMTMC
30 September 2013
Toledo Mining Corporation plc
("Toledo" or the "Company") (AIM:TMC)
Operations Report for the Berong Nickel Mine - Third Quarter 2013
Toledo Mining Corporation plc is pleased to update shareholders on the
operating activities of the Berong nickel mine for the quarter ended 30
September 2013.
Production of run-of-mine ore from Berong Nickel Corporation's ("BNC")
Berong nickel mine in this quarter was 94,834 wmt at an average grade of
2.0% Ni.
During Q3 2013, the following shipments were completed.
M/V Jin Feng 53,800 wmt @ 1.82% Ni
M/V Hony Future 54,725 wmt @ 1.82% Ni
Loading of a further vessel is currently underway:
M/V Lark 50,000 wmt @ 1.8% Ni
A lower nickel price has meant there is currently no economic market for
any grade below 1.8% hence the smaller number of shipments. This also
accounts for the lower production figure as BNC has been producing only
high grade ore. BNC has not changed its planned output targets for the
year, but continues to respond to market conditions.
As at 30 September 2013, total coastal stockpiles of all ore amounted to
243,004 wmt with an average grade of 1.47% Ni.
These two shipments are forecast to generate revenue to BNC of
approximately US$SHYSHYSHY 3.4 million and to yield approximately 1,295
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
Katie Grinham, PR, Toledo Mining Corporation
+44 (0) 20 7290 3101
Jen Boorer/Sarah Wharry, RFC Ambrian Limited
+44 (0) 20 3440 6800
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#1732235
http://www.toledomining.com/
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