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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published