WARNING, this share is so speculative do not even think about buying it unless you can afford to throw your money down the toilet.

The Group's principal activity is international mining development and investment. Toledo Copper Corporation plc was introduced to the AIM market on the 5th April 2004 via a Placing of 166.6 million shares at 1.5p each. The funds raised will contribute towards a feasibility study with Atlas Consolidated Mining and Development - a company based in the Philippines and quoted on the Philippine stock exchange. That study will determine if the Philippines-based Toledo Copper Mine, in which TCU has a right to acquire a 40% stake potentially worth 316 million US dollars, can be re-opened

There are 453.7 million ordinary shares of 0.01p each in issue.

Major Shareholders (as at 18th April 2004): RAB Special Solutions LP, 96,000,000 shares (21.16%); Resources Investment Trust plc, 77,000,000 shares (16.97%); Chrisilios Chris Kyriakou (Dir), 50,000,000 shares (11.02%); Sierra International Services Ltd, 50,000,000 shares (11.02%); Craggan International Ltd, 30,000,000 shares (6.61%); Golden Dragon Trading, 20,000,000 shares (4.41%); Wai Yip Investments Ltd, 20,000,000 shares (4.41%); and Hartford Investment Group Ltd, 15,000,000 shares (3.31%).

TCU Director Merfyn Roberts is an 18% partner in Absolute Resources LP, which holds 10,000,000 Ordinary Shares. The Company has also granted the Directors options to subscribe for a further 17,500,000 Ordinary Shares at 0.02p per Ordinary Share at any time up to the third Anniversary of Admission.#

cheerrs GF.

PTH, cant really say that it bothers me that much as I think in the next 18 months this one could be way higher than its present price.

At the moment I see on the other site familiar speculator names , so it wouldnt suprise me to see it lose a little ground over the next 48 hours or so.

The longer term is where the really big profits are in my opinion on this one.

cheers GF.

Update by Watshot.com
We have been asked when Toledo Copper became Toledo Mining (TMC); and of what the company now comprises. Well, it was on 24th August that the name change took place, and it did so of course to reflect the fact that the broadened base now encompasses plans for the exploitation of nickel deposits as well as the original target, copper. See Daily Offerings passim.

And Toledo Copper yesterday issued an announcement declaring that Cambrian Mining (CBM) had taken a 4.45% stake in the company. We suspect this comes from a recent placing where raised 4.4 million by issuing 220 million shares at 2p each. Rumour has it that news flow tomorrow and the day after will throw light on how the link with Cambrian, which has demonstrated a rich vein of capital-raising ability of late, can be exploited. But it seems fairly clear that the experts are beginning to believe, what MWM has always averred; that Toledo's existing potential, and that of possible future projects is firmly grounded. The news caused the share price to rise nearly to 2.75p, and we have no hesitation in reiterating our buy recommendation.Ends.

Lifted from another board, just to cover my back.

cheers GF.

What would it be worth without the copper?

It would still warrant the nice rise at least over the last couple of days and a lot more aswell. Nikel prices shooting up like copper prices, even more so.

cheers GF.

Commodities
Date: October 13, 2004

Its A Record For Copper.

By Rob Davies

Copper prices reached their highest level for 15 years last week when they got to US$3,321/ tonne. The previous peak, and highest ever price, was in 1989 when they got to US$3,400 and that record looks set to be broken very soon. Inflation over that period means that in real terms the current prices are still below the US$4,500/ tonne that the previous high equates to in todays money. Nevertheless, a peak has been reached and with inventory levels still low there are few reasons why prices should not move yet higher.

Oil is one reason why metal prices might go up because diesel fuel for trucks is a vital element in the cost of mining and the concentration, smelting and refining processes are all big consumers of energy. Ore is pretty hard stuff and breaking it down it down into its component parts takes a lot of effort. Oil prices for the lighter crudes in the US have now past US$50/barrel and the heavier Brent oils are heading that way.

The oil industry, like the mining industry, is operating pretty much at full capacity so the only way prices are going to be moderated in the short term is through a reduction in demand. Despite many signs that Western economies are not in such robust health there is no evidence yet that offtake is slowing down. So, if it is costing more to produce the metal, and consumers are desperate to get the stuff, the chances are that miners will be able to pass these costs through to consumers as price rises.

However, both the oil and the metal markets are in backwardation meaning that future prices are lower than spot prices. Copper, for example is priced at US$3,030/tonne for delivery in three months time, US$2,500 for 15 months time and $2,230 in two years and three months time. That implies that a lot of the money in the market is speculative rather than commercial, and with LME stocks of only 93,000 tonnes it is easy to see why.

The attraction of hot money to the commodity market can perhaps be explained by a fear that the dollar may weaken further, a view reinforced by a statement from a US bank official that the dollar can only go down over time, it was just a question of how far. Fears of a weaker dollar were reinforced by poor jobs growth in the US in September. Only 96,000 jobs were created which is about half of what is required. While that pushed up bond prices it didnt seem to hurt equity and commodity prices, both asset markets that do well in a growth environment.

Copper was not the only metal to do well last week. Aluminium reached a new all time high of US$1,645 / tonne and nickel moved up even though it peaked earlier in the year. Zinc has got back above US$1,000/tonne for the third time and closed at $1,139 /tonne. Interestingly, zinc is the only metal that is not in backwardation suggesting that it may give the best performance of all over the medium term. While all the commodities look set to give good dollar returns in the short term, the more important question might be to ask what that will be worth in local currencies.

cheers Gf.

GF.
Was told a while back by A K, who i thing you know, that a best case scenario for TMC would = a share price of 70p.

Would be very nice aldwickk.

cheers GF.

RNS released, although not showing on this site under TMC:

RNS Number:0305E
Toledo Mining Corporation PLC
13 October 2004


13 October 2004


CARMEN COPPER PROJECT


The Company is pleased to announce that the technical audit by Behre Dolbear of
the feasibility study covering the reopening of the Toledo copper mine in Cebu,
Philippines is substantially complete. The study has been delayed by the recent
sharp increase in smelting/refining charges and in particular, the cost of oil
and coal which has necessitated a revision of the cost estimates and the method
of power supply to the mine.


Following the increase in energy costs it has been necessary to revise the power
supply from a simple power purchase arrangement to a capital contribution to
enable the expansion in capacity by 50 Mw of the Sangi coal fired plant of
Mirant Toledo Power Station (MTPS). The expansion will be owned by the mine but
operated by MTPS and the power produced sold to the mine at cost, including a
management charge. This arrangement has resulted in a significant reduction in
power cost but an increase in the estimated capital cost. The Company and its
advisors are continuing to evaluate other power supply options.


Smelting and refining charges have increased from a low of 4c/lb of copper in
July to a current rate of 26c/lb, despite there being only an 80% utilization of
copper smelter capacity worldwide. The Company has taken the conservative view
that future smelting and refining charges will average 23c/lb.


Based on the revised energy plan, key figures from the study are:

Capital cost $171.38 million
Cash costs $0.64/lb copper
Based on a gold price of $385/oz and an exchange rate of Php55=$1.00 the NPV at
a discount rate of 10% at a copper price of $1.00, $1.20 and $1.40/lb is
$12.09M, $93.52M and $173.60 M respectively.


Future scheduled rates of production are 42,000 tonnes per day (15.2 million
tonnes per year) from the Carmen Lift 1, through a system of underground
crushing followed by conveying through a decline directly to the Carmen
concentrator. This will result in significant cost savings over the scheduled
11-year life of Carmen Lift 1. Existing shaft hoisting facilities will provide
hoisting back up. Average annual payable production will be 108,5M lbs of copper
and 47,900 oz of gold.



The mining of DAS Lifts 2 and 3 at 42,000 tpd is being studied. This will extend
mine life beyond 20 years. Total mine resource is over 870 million tonnes and
promises a much longer mine life. In addition, several higher grade exploration
targets in proximity to the existing production shafts have been identified and
will be drilled at a later date.



Retained senior management at the mine is of high international repute and
represents many years of operating experience. Suitably experienced expatriate
staff will provide full technical and commercial back-up to the mine staff. A
fully experienced mine workforce is available in the district and the reopening
of the mine will create employment for an additional 2,800 persons.



The Company is making good progress with major companies in Japan and China for
the provision of copper concentrate offtake and project financing agreements.


The Toledo copper mine, in which the Company is earning a 40% interest,
commenced operations in 1955 and operated continuously until 1994, when mining
operations were suspended due to the underground block caving operations being
flooded by super typhoon Ruping, which caused widespread loss of life and
property throughout Cebu.



The Carmen Lift 1 was in partial production prior to the suspension of mining
operations and the mining method to be deployed at Carmen Lift 1 is well
established and proven.



Prior to suspension of operations, mine production peaked at 110,000 tonnes per
day from open pit and underground block caving, and Toledo was at the time, the
largest copper mine in Asia. Full gravity block caving was practiced for many
years at the mine, which was amongst the lowest cost producers in the world.



Production over the last 15 years of operations was at the same grade as the
remaining resource and also the projected future production. During this period
the mine produced profits of up to $100 million per annum before tax, debt
service and management fees. To date, the mine has produced total operating cash
flow of $1.31 billion before tax, debt service and management fees.



Berong Nickel Project

At the Company's Berong nickel laterite project in Palawan, Philippines, work is
progressing on schedule to commence direct shipping saprolite ore by mid 2005 at
the rate of 300,000 tonnes per year to ferro nickel smelters in Japan, pursuant
to a contract entered into in August 2004. Discussions are also underway with
another major Japanese company for a further 350,000 tonnes per year.



Negotiations are also well underway with a major Australian consumer for the
direct shipment of 600,000 tonnes per year of high grade limonite ore > 1.8%,
which will be produced as a co-product at little additional cost.



The Berong nickel laterite project has an indicated resource of 275m tonnes at
1.3% Ni and 0.074% Co containing 3.6 million tonnes of nickel, making it one of
the largest deposits in the world. Discussions are underway with a number of
international companies who have indicated an interest in entering into a
farm-in arrangement in a major project which would involve the development of an
acid leach and/or ferro nickel plant. This excludes the direct shipping
operation which would be operated independently by the Company.


Note: all $ refer to United States Dollars



TOLEDO MINING CORPORATION PLC


The Directors of Toledo Mining Corporation plc (AIM: "TMC") wish to announce
that they have engaged Endeavour Financial to provide financial advice with
respect to its re-development and expected financing of the Toledo Copper Mine
in Cebu, Philippines. Endeavour has one of the largest investment banking teams
dedicated exclusively to the mining industry and has significant experience in
raising capital for mining projects on a global basis. Endeavour has begun work
during the completion of TMC's feasibility study with a view to evaluating the
most efficient financing plan for the re-start of the mine.



Endeavour has provided financial advisory services to the mining and minerals
industries for over 16 years. Its team of over 20 professionals operate from
offices in George Town, Vancouver and London and provide advisory capabilities
in project finance, equity arranging and corporate finance, mergers and
acquisitions and strategic business development. Chris Kyriakou, Executive
Chairman of TMC stated, "We are pleased to have the benefit of Endeavour's team
of industry professionals and world-wide expertise and reputation behind the
re-development of the Toledo Mine".

Looks like the speculators have jumped ship.

cheers GF

But not the Institutions GF!

RAB Capital plc
15 October 2004


FORM SAR 3

Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.
A copy must also be sent to the company the shares of which are acquired.

Date of disclosure
15 October 2004...............................................................

DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
SUBSTANTIAL ACQUISITIONS OF SHARES ('SARs')

Date of acquisition
17 September 2004...............................................................

Acquisition in (name of company)
Toledo Mining...............................................................

1. Class of voting shares (eg ordinary shares)
Ordinary...............................................................

Number of shares/rights over shares acquired

50,000,000............Shares

If rights over shares acquired, as opposed to the shares themselves, specify
nature of rights
...............................................................

2. Resultant total holding of voting shares (and % of total voting shares in
issue)
112,560,000.......... 16.7%

Resultant total holding of rights over shares (and % of total voting shares in
issue)
.......... ..........%

Total percentage
16.7%

3. Party making disclosure
RAB Capital plc...............................................................

4. (a) Name of person acquiring shares or rights over shares
RAB Special Situations
LP...............................................................

and, if different, beneficial owner
...............................................................

(b) Names of any other persons acting by agreement or understanding (see SAR 5)
None...............................................................

Signed, for and on behalf of the party named in (3) above
...............................................................

(Also print name of signatory)
N. Warrender...............................................................

Telephone and extension number
020 7389 7015...............................................................

Note 1. Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.

Note 2. The resultant total percentage holding of voting shares and rights over
shares is to be calculated by reference to the percentage held and in issue
outside treasury.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section. Tel. No: 020 7638 0129.
Email:
monitoring@disclosure.org.uk




This information is provided by RNS
The company news service from the London Stock Ex

Good news then that both Rab and Cambrian are taking large stakes in this one.

Hope to see it rising over the next few months.

cheers GF.

Not a bad day followers.

Lets just keep it going.

Cheers GF.

Lifted from another board and things look OK........................

In from watshot..

I am aware that Toledo Mining Corporation (TMC) enjoys keen interest amongst the members of WatsHot.com. Just the other day it was reported that Endeavour Financial, which has a global presence, with an investment-banking team to match, in its chosen sphere - raising capital for mining projects - had been engaged to advise on Philippines-based Toledo Copper. A separate report said that before the operations ceased, the last 15 years of operations at the same grade of the remaining resource - and of projected future production - had produced profits of up to $100 million, a thumping figure even if the latter figure took no account of debt service, taxes or management fees. Meanwhile there have been no setbacks in the development of the nickel deposits, and indeed the company is seeking support for the building of a plant to supplement its growing shipping operations. The ubiquitous Cambrian has taken another major bite, and at 2.75p per share, the recommendation remains, buy.

cheers GF.

Wonder what the morning brings for this one?. Hope we contine to see the new highs maintained rather than manipulation from the MMs.

cheers GF.

GF with big bites going on from cambrian at 2.75 what would you expect the upward move time period to be? I am new to this system but held shares for some time now.

marti

Hi Marti,

prefer to let the market take its course. Best to stay away from predictions.

cheers GF

This is from minisite
Date: October 26, 2004

Toledo Mining Steps Up The Pace In Its Philippines Nickel Business.

By Robert Wallace

We last wrote about Toledo Mining in August. Its not like us to feature a reported company just two months later as there are so many juniors clamouring for a bit of exposure to investors in Europe. Rapidly evolving events at its nickel projects in the Philippines have, however, demanded an update.

To recap, when it listed in April this year, the company was named Toledo Copper as its sole project was the Carmen copper mine near the town of Toledo on Cebu island. This is a medium-term project where the rehabilitation required to return the project to operational status has now been costed at US$ 178million. Endeavour Financial has just been appointed to plan capital provision. Toledo acquired a 40 per cent interest in what was effectively a dormant resource from Atlas Consolidated Mining Corporation, a Philippine-registered company owned by the Ramos family, which also own substantial publishing interests in the country.

This summer, the company did a second set of deals primarily with the same family, acquiring stakes in two established but non-producing nickel laterite mines located on Palawan island in the south-west Philippines, acquiring 44 per cent in Berong and 52 per cent in Celestial. These deposits are so important that on 6th October, the company changed its name to emphasise its wider-than-copper activities; its AIM epic also altered from TCU to TMC.

At Berong, mining is expected to be contracted to Australian company Leighton Contractors and the total cash cost of operations will be around US$1.30 per pound of nickel shipped. Profitability is helped by a strong nickel price and a weak Philippine peso. An FOB shipping contract has now been signed with a Japanese customer, Nippon Metals and Alloy, to supply 300,000 tonnes of dried ore pa at a nickel grade of 2.2%. At the current price of US$6 per pound, this should give total annual revenues of US$15.7 million , of which Toledos share will be US$6.9 million. A second agreement with Japanese buyers for a further 350,000 tonnes of ore pa is nearing signature. This would bring the total to 650,000 tonnes, generating total income of US$35.5 million and US$15.6 million respectively.

Negotiations are also proceeding with a prospective Australian customer which would take 600,000 tonnes of high grade nickel/cobalt limonite material at a grade greater than1.8% nickel equivalent. At the same nickel price, Toledos revenue from this additional contract should be US$5.9 million.

Total annual Toledo cash flow from Berong of US$21.5 million is therefore thought by management to be within reach. All that is needed is a road, a shipping pier and a final government mining permit to add to the regional one already obtained. Permitting and confidence is helped by the existence some 150 kms south of Berong on Palawan island of the Rio Tuba nickel mine which has been direct shipping nickel for over 25 years and has just installed and is commissioning a 10,000tonnes/year HPAL processing plant which has recently received its government environmental permit.

The Berong nickel deposit is said to be the fourth largest in the world with 275 tonnes of reserves at 1.3% nickel, ie 3.6million tonnes of contained nickel. As it has an approximately 50/50 mix of limonite and saprolite orebodies it offers options for either leaching or smelting. The company intends to commission a bankable feasibility study at a cost of some US$20 million which it could fund out of cash flow to asses the economics of developing the mine into a not less than 50,000 tonnes of nickel pa producer. Not surprisingly, there is considerable interest already from majors to farm in to its future large scale operations.

Toledos success is largely due to its Australian CEO Chris Kyriakou. Originally a lawyer, he was a mine developer in Australia, Canada and South Africa for 20 years. In the late 90s he left the industry but returned with a keen interest in the Philippines where he first met Atlas in July last year. Most mining companies have to discover an economic orebody, attract capital and then develop a mine. What Kyriakou especially likes about Berong is that Toledo just has to dig ore, dry it and deliver it to a port.

The Philippines hosts some of the worlds most important mineral resources, especially of copper, nickel, cobalt and gold and silver. Yet currently mining development in the country is minimal; the effects of past typhoons, economic strife and environmental antipathy to mining have conspired to close most previously viable mines. The government is now actively courting mining companies and hopefully the Minister of Mines will be in London for a Special Philippines Mining Forum run by Minesite in February 2005.

At the moment there are less than a dozen operating miners either listed on the Philippines Stock Exchange or foreign explorers active in the country. Most of the prospects being explored or developed are previously-active mines which closed in the 90s; Toledos Carmen copper mine is an instance. No wonder the Philippines Environment Secretary Michael Defensor appealed at a business leaders forum in Manila last week for investors to participate in developing mineral resources.

Toledo heard the call ahead of the crowd. So have some other shrewd investors in this rapidly-evolving story; with a purchase of 30million shares, 3.4%, AIM listed Cambrian Mining has just joined RAB Capital and Resources Investment Trust as significant holders on Toledos share register.

Many thanks for a cracking good post Stockwoodjack.

PTH

Yes an excelent post.

A second agreement with Japanese buyers for a further 350,000 tonnes of ore pa is nearing signature. This would bring the total to 650,000 tonnes, generating total income of US$35.5 million and US$15.6 million respectively

Should help send the price north.

cheers GF.