Toledo Mining Corporation PLC Toledo Mining Corporation Plc :operations Report For The Berong Nickel Mine - Third Quarter 2013

 
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 
 
   [phone] 
 
   Katie Grinham, PR, Toledo Mining Corporation 
 
   [phone] 
 
   Jen Boorer/Sarah Wharry, RFC Ambrian Limited 
 
   [phone] 
 
   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. 
 
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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/