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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
