Toledo Mining

• 02/05/13

  Toledo Mining Corporation PLC:Notification of Majo

• 01/05/13

  Toledo Mining Corporation PLC : Closing of Offer

• 30/04/13

  Toledo Mining Corporation PLC : Total voting right

• 30/04/13

  Toledo Mining Corporation PLC:Operations Report fo

• 19/04/13

  Toledo Mining Corporation PLC : Exercise of Option

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  30/04/13

  Toledo Mining reports first quarter figures from Berong nickel mine

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  19/03/13

  Toledo Mining's independent directors recommend DMCI bid

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  18/03/13

  Toledo Mining bid turned down by second largest shareholder

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  18/02/13

  Toledo Mining gets 50p a share offer from major shareholder

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  28/01/13

  Toledo Mining ships 155,844 wmt from Berong

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  31/12/12

  Toledo Mining puts final piece in place for Berong

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  19/12/12

  Toledo Mining further updates on Berong venture

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  17/12/12

  Toledo Mining beefs up board

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  01/11/12

  Fevamotinico increases stake in Toledo Mining to over 25%

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  30/10/12

  UPDATE: Toledo Mining says Berong Nickel's shipments over 678,000 tonnes

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  01/05/13

  Proactive news summary, including West African Minerals, Orosur Mining, SolGold, Toledo Mining
• 

  17/04/13

  Proactive news summary: Afferro Mining, IMIC, Magnolia Petroleum, Caledonia Mining, Fluormin, Toledo Mining, AFC Energy
• 

  17/04/13

  Today's Market View Including Afferro Mining, EMED Mining, Ormonde Mining plc, BHP Billiton and others
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  19/03/13

  Proactive news summary, including Fastnet, Europa Oil & Gas, Statpro, Planet Payment
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  15/03/13

  Most followed, including Fluormin, Arian Silver, Oxus Gold

• 27/05/11

  +5.63 +29.88

  Press: Toledo Mining rose after it said its plan to reopen the Berong nickel mine by mid-June had been finalised with its joint venture... read more

  Press: Toledo Mining rose after it said its plan to reopen the Berong nickel mine by mid-June had been finalised with its joint venture partners. ?Clearly, the appointment of the company?s new CEO, Victor Kolesnikov, has had the effect of mobilising this attractive asset,? said house broker Ambrian Partners, which repeated ?buy? advice. Source - Financial Times
• 03/02/11

  Press: 03.02.11: -2.50, (22.75) Press: Toledo Mining fell after announcing that a potential bidder had withdrawn its approach. Toledo added... read more

  Press: 03.02.11: -2.50, (22.75) Press: Toledo Mining fell after announcing that a potential bidder had withdrawn its approach. Toledo added that the third party had been failing to respond to requests for further information. Source - Financial Times
• 11/12/10

  Press: 11.12.10: Press: Toledo Mining rose 9.25p to 32p after announcing a preliminary takeover approach. China?s Jinchuan will pay 42p per... read more

  Press: 11.12.10: Press: Toledo Mining rose 9.25p to 32p after announcing a preliminary takeover approach. China?s Jinchuan will pay 42p per share for a 29.9% holding stake in Toledo, which has had problems with its Australian refinery. Source - Financial Times
• 27/05/09

  +5.25 +32.75

  announces it resumed shipping nickel laterite ore to BHP Billiton Ltd. this week from its stockpiles and is considering restarting... read more

  announces it resumed shipping nickel laterite ore to BHP Billiton Ltd. this week from its stockpiles and is considering restarting mining operations later in the year. Analysts said the shipment restart is an indication that nickel demand is improving. Toledo said it shipped 47,757 wet metric tons of nickel laterite ore from its Berong nickel mine on Palawan Island, Philippines on May 25 and a second shipment is scheduled for mid-June. The shipment came from its 300,000 ton stockpile while the mine remains on care and maintenance. "Although the Berong mine remains on care and maintenance, the resumption of shipments to BHP, industry reports of significant reductions in ore inventories at Chinese ports and a gradually improving trend in the nickel price, offer some encouragement for a resumption of mining operations in the longer term," the company said. BHP Billiton told Toledo it wants 400,000 tons of nickel laterite ore from Berong this year for its Yabulu refinery in Australia. Analysts at Ambrian said around 150,000 tons of the 300,000 ton stockpile meets the BHP quality specifications. "The new shipments are good news in that they reflect improved market conditions," Ambrian said, adding it continues to recommend Toledo as a speculative buy.
• 04/05/07

  an article in the Independent reports: 04.05.07: -2, (357.5) an article in the Independent reports: Toledo Mining Corp rose 47.50p to 359.50p after successful meetings with... read more

  an article in the Independent reports: 04.05.07: -2, (357.5) an article in the Independent reports: Toledo Mining Corp rose 47.50p to 359.50p after successful meetings with institutional investors last week. The stock has benefited from moving from exploration into production and the company?s Berong nickel project in the Philippines is one of very few new nickel projects with long-term production potential.

Toledo Mining Corporation is an investment holding company with strategic interests in two privately owned joint venture nickel companies in the Philippines: Berong Nickel Corporation and Ipilan Nickel Corporation.

The Company’s objective is to support these companies in building a sizeable nickel business through the provision of financial and technical input including the implementation of downstream value-added processing.

Responsible and sustainable mining is key to the successful development of any mining business and Toledo ensures that best industry practice is upheld for the benefit of all the communities with which it is associated.

Toledo Mining Corporation is listed on the AIM market of the London Stock Exchange under the symbol TMC.

Berong Nickel

Toledo has an economic 56.2% interest in the Berong, Moorsom, Long Point and Ulugan deposits (referred to collectively as the Berong Deposit), all on Palawan Island.

The Berong nickel mine exports saprolite and limonite ores to customers in China and Japan, where it is used predominantly in the production of ferronickel and utilised in the manufacture of stainless steel.

As the nickel deposit at Berong is relatively shallow, the mining technique used is essentially free digging i.e. it only requires the use of basic equipment (excavators, tractors and dump trucks). There is no chemical treatment process and consequently there are no complex waste management issues. The ore contains 40% water when it is first mined and has to be assayed, sorted, dried and blended before being sent to the coastal stockpiles prior to shipping. The mine’s proximity to the sea enables relatively straightforward trucking, barging and shipping. The Company does not have a port facility large enough, nor is the water deep enough to allow sizeable vessels to dock near the mine. Instead the ore is loaded on to barges from a causeway and transported out to the waiting ship for onward transportation to China or Japan.

Rehabilitation of the areas that have been mined is an important part of the whole process and we are proud that Berong has achieved recognition for the considerable efforts it has made in this area.

Recent Operations

The strategy agreed with our partners in BNC to target production of ore containing 1.8% nickel resulted in the Berong mine successfully recommencing operations in May 2011 at a time of favourable market conditions for high grade saprolite ore. The mine ramped up to targeted production capacity in June 2011 and by the end of March 2012, 626,955 wet metric tonnes (wmt) of run-of-mine ore grading 1.84% nickel had been mined. During the second quarter of 2012, production of run-of-mine ore amounted to 179,178 wmt at an average grade of 1.63% Ni. And for the third quarter of 2012, the run-of-mine ore mined was 185,878 wmt at an average grade of 1.81% Ni.

Direct ore shipping to China recommenced in July 2011 and before the end of the calendar year six shipments were successfully completed totalling 317,260 wmt of ore yielding approximately 3,633 tonnes of contained nickel. For 2012, up to the last Quarterly Update (30 October 2012), there were a further 12 shipments, including the first shipment to Japan, and a thirteenth shipment was under loading. Total tonnages including the thirteenth shipment came to 678,443 wmt – forecast to yield approximately 8,102 tonnes of contained nickel and generate revenues to BNC of approximately US$24.4 million. With this level of nickel production capacity, Berong has regained its position as a notable player in the nickel market.

Click for more information on Berong Nickel

Ipilan

The company has interests in an additional laterite property, Ipilan, in which the company holds a 52% economic interest.  Ipilan is also located on Palawan Island. It covers an area of 2,835 hectares, and has substantial permitting already in place.

The Company was approached by Jinchuan Group, China’s largest nickel producer and an offer was made to purchase the joint venture partners’ interests in Ipilan Nickel Corporation (INC). The due diligence period expired and the parties were unable to agree terms. Despite this outcome, the offer process established an open market valuation for the project and the evaluation work conducted by Jinchuan through its due diligence has given us renewed confidence in the value of retaining this asset for development.

The Declaration of Mining Feasibility (DMF) and its associated documents for approval to mine at Ipilan were lodged in November 2010. During 2011, additional consultations with the residents of impacted communities were carried out as required by the MGB. Activities during 2012 have focused on finalising the requirements for the DMF and the final reports should be available in the last quarter.

Meanwhile development concepts for the project are continuing. An updated tree inventory covering the mining area has been completed and the corresponding application for a special tree cutting permit is now lodged with the DENR. All critical documentation is being updated to conform to the requirements of the MGB. Full compliance is anticipated by November 2012 when the boundary survey, requiring three months of field work, will have been completed.

Subsequent activities will include the detailed project engineering, the preparation of a bankable feasibility study and the securing of all construction and related business permits.

Ulugan Nickel

The Company owns a 58% economic interest in the Ulugan Nickel project. This deposit is also located on the island of Palawan and consists of two Exploration Permit applications covering more than 16,000 hectares. Pending granting of the Exploration Permits little work has been undertaken on this property.

Together, Berong, Ipilan and Ulugan represent world class projects. The deposits offer the potential to recover both limonite and saprolite ore.

Social issues and the processing of permit requirements around the Puerto Princesa area [Ulugan Area] have delayed progress.

Directors

Constantine Thanassoulas - Non-Executive Chairman

Mr Thanassoulas was the Chief Executive Officer of Larco SA, the largest ferronickel company in Europe from 2004 – 2008. Prior to this, he has held a number of senior positions in the banking sector, including Managing Director, Global Head of Derivatives for Barclays Bank and Chief Operating Officer of Sanwa (UFJ) International PLC. Mr Thanassoulas is currently a partner of Eilon Associates Ltd, an investment banking consultancy and has been the past President of the European Finance Association and President of the European Financial Management Association.

Victor Kolesnikov – Chief Executive Officer

Victor, aged 49, is a qualified metallurgical engineer with over 22 years experience in the non-ferrous metals industry, including eight years with Norilsk Nickel.

Although based in London, he spends extended periods in the Philippines working with the local management and joint venture partners utilising his specialist skills to unlock the potential inherent in the Company’s nickel assets.

Following his appointment as CEO, Victor now also holds directorships with our joint venture partners:

• TMM Management Inc.
• Berong Nickel Corporation
• Ipilan Nickel Corporation.

Simon Purkiss – Non-Executive Director

Mr Purkiss is a metallurgical engineer with over 25 years’ experience in the base metals and platinum group metals industries in various operational and business development roles at Impala Platinum Ltd and BHP Billiton. He has specialised in developing new processing routes to treat deposits that have not been able to be treated by conventional processes and has brought a number of these companies to the market. Mr Purkiss was one of the founders of European Nickel plc, a UK registered company which developed the heap leach process for application to nickel laterites.

Jason Cheng – Non-Executive Director

Mr Cheng is based in Hong Kong and is the Managing Partner of Kerogen Capital Limited, a private equity firm which invests in the energy sector. Previously, Mr Cheng worked in investment banking in the resources sector at Schroders and JP Morgan in Australia, and was also based in Beijing, China, undertaking investment and advisory activities at Jade International Capital Partners. Born and educated in Australia, Mr Cheng holds a Bachelor of Commerce from Melbourne University and a Masters of Commerce from Sydney University.

Isidro Consunji – Non-Executive Director

Mr Isidro Consunji, President of DMCI Holdings Inc. the parent company of DMCI Mining Corporation, joined the Board of Toledo as a representative for DMCI Mining which holds a 17 per cent. shareholding in Toledo. Mr Consunji has been a director of DMCI Holdings Inc. for over seventeen years.

Robert Jenkins – Non-Executive Director

Mr Robert Jenkins has joined the Board as an independent non-executive director and as the Company’s Audit Committee Chairman effective from 1 January 2013. Mr Jenkins has over thirty years’ experience in investment management and corporate finance and is currently a partner in Northstar Corporate Finance. He was previously a corporate finance consultant to KPMG (Moscow), finance director of AIM-quoted Eurasia Mining plc and a senior fund manager for Framlington Group plc.

Please click for information on Senior Management

The Company’s share capital consists entirely of Ordinary shares of 5p each, with voting rights of one vote per share.

The above figure of 49,845,333 shares may be used by shareholders as the denominator for calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.