Toledo rises on Berong update

Toldeo Mining rose after a positive production update from its joint venture, the Berong Nickel Corporation.

Toldeo Mining rose after a positive production update from its joint venture, the Berong Nickel Corporation.

Production of ore from the Berong mine during the three months to the end of December totalled 155,844 wet metric tonnes at an average grade of 1.84% nickel.

WMT incudes the weight of the ore together with moisture content.

Stockpiles at the year end totalled 230,416 WMT at an average grade of 1.46% nickel.

The 15 shipments made during 2012 amounted to sales in excess of 777,000 wmt ore yielding over 8,750 tonnes of contained nickel metal.

This generated gross revenues to Berong of around $29m, the firm said.

Toldeo's shares rose 2.6% after the announcement.

Toledo Mining has 56.2% of Berong Nickel, with the remained owned by Atlas Consolidated Mining and Development (25.2%) and DMCI Mining (18.6%).

MM

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
Here’s why markets have shrugged off the US political turmoil
Investment strategy

Here’s why markets have shrugged off the US political turmoil

Despite all the current political shenanigans in the US, markets couldn’t seem to care less. John Stepek explains why, and what it means for your mone…
7 Jan 2021
Free 6 issue trial then continue to