Interesting little company. Did a series of asset swops to leave them with half of the 4th largest Nickel deposit in the world.
The deposit itself is in the Philippines has been known about for 30 years but due to low prices and lack of demand in the Far East it was never exploited. With the explosion in demand from India and China the nickel price has climbed from $2 to $6.50 but oddly enough is still considered low.
The final approval stage for exploitation is just about to be approved and extraction will begin. The company already has one contract with a Japanese smelter and is in discussions with smelters in a series of countries.
Nothing clever about the operation, as the ore is of sufficiently high grade, they dig it up and ship it out. Infrastrucure is already in place for operation.
TMC is currently priced at 18m, the initial Japanese contract is worth 4m and each additional contract will hopefully be at this level or greater.
Final approval turns the company into a producer and each additional contract simply increases their size.
The management is tight with cash and has some good quality mining skills onboard.
The Philippine government is fast tracking the final approval and the company says it expects it shortly.
One to hold for approval and through the series of RNS's as more contracts are won. Company should be worth 50m in 6 months and 100m in 12-18 months.
Buy it, ignore it, just pointing this one out.

well how about some good news then....?!



RNS Number:2259D
Toledo Mining Corporation PLC
04 September 2007


TOLEDO MINING CORPORATION PLC


Long Term Laterite Ore Supply Agreement Signed with Queensland Nickel

The Directors of Toledo Mining Corporation plc ('Toledo Mining Corporation' or
the 'Company') (AIM:TMC) are pleased to announce the signing of a long term
laterite ore supply agreement with Queensland Nickel Pty Ltd ('QNPL'), a BHP
Billiton group company (the 'QNPL Supply Agreement'). The laterite ore will
initially be shipped from the Company's operations at Berong to QNPL's Yabulu
Refinery in North Queensland, Australia.

The QNPL Supply Agreement is for a 5 year term with an option to extend for a
further 5 years at the election of QNPL. The minimum contract volume is for the
supply of 500,000 wet metric tons per calendar year at a nickel grade of greater
than 1.5% Ni. Individual ore shipments will be made to a maximum of
approximately 70,000 wet metric tons, depending upon the size of the ship. The
first shipment under the QNPL Supply Agreement is scheduled for delivery from
Berong in late September 2007.

The QNPL Supply Agreement will provide a base load for Toledo Mining
Corporation's mining operations on Palawan. Negotiations are continuing between
the Company and several Chinese end-user customers for additional long term
contracts of similar volumes.

Notwithstanding the recent falls in London Metal Exchange ('LME') nickel prices
and excess laterite ore stocks in China, the Directors believe the market for
higher grade laterite ore, similar to that shipped from Berong, remains robust.
The average grade of ore shipped from Berong has been greater than 1.5% Ni.

The mining operations at Berong are running at an annualised rate of greater
than 1 million wet metric tons per year. Operations continue to ramp up to a
target production rate of 1.5 million wet metric tons for 2008. With the onset
of the wet season and typhoon activity, forecast production for 2007 is
estimated at over 850,000 wet metric tons, with shipments at approximately
700,000 wet metric tons. Shipments are heavily dependent upon weather conditions
and the availability of vessels.

Mr George Bujtor, CEO of Toledo Mining Corporation, commented, 'The building of
long-term supply relationships with end use customers helps insulate the Company
from volatility in the market place, and provides a valuable adjunct to the
Company's long term goal of value added processing'.


George Bujtor, Chief Executive Officer of Toledo Mining Corporation, is a member
of the Australasian Institute of Mining and Metallurgy and is the qualified
person that has reviewed and approved the technical information contained in
this announcement

good to see the corpse bouncing around a bit ... lol!

Cant understand why we have not heard from OILYRAG after today's excellent RNS. Still looking forward to the Monaco trip?

not this year that's for sure!

Well I would prefer to go in the summer. TMC results due this month may show Berong Nickel Corp. profits either as a subsidiary or an associate company although part of TMC's controlling interest is indirectly held. IVK has already included net profits made by Berong Nickel in their recent interim statement.

Buys are labeled as sell.

The MM's have been doing this all the time. Makes you wonder what their game is perhaps somebody has a long term buying strategy?

Recent RNS suggests TMC will supplement shipments of laterite ore from Berong by mining higher grade deposits at Ipilang as they are expected to ship a minimum of 500000 tons pa to BLT. Look forward to forthcoming results statement shortly.

Hi halifax and all the boys, I have just seen the RNS this morning. I havn't passed any comment for the reason that, the last week or so, I have been on an extended bedside vigil at St Marys hospital, where my father passed away on the 4th Sept. Since then I have been consoling my mother and trying to sort out her finances. As you can imagine, I'm feeling a bit numb at the moment, so am just watching for the time being. Yes it was good news and is only the start.

Condolences to you oily.

sorry to hear the news oily ..... no fun at all

Thanks lads, speak again soon.

PRICE DROPPED TO ENCOURAGE SELLING. AT END OF DAY I BET SP FULLY RECOVERS AS IT HAS DONE SEVERAL TIMES IN THE PAST.

sorry oily

i know it puts people comments on all this into perspective..........none of us know whats around the corner

Oily we offer you our sincere condolences on your bereavement.

Thanks again one and all.

RAB holdings RNS after close, looks like they have sold off over 2%.

RAB has reduced its sharehoding from10.8% to 8.38% and now hold 2,445,000 shares maybe they needed to raise cash in these difficult markets.

Probably to pay for their speculative stake in NRK. TMC looks like its on the way back, now that they have a contract with BLT. Thats only for the cheap stuff though, still a year or two for the big money and proper MPSA still to be issued.

Oily do you think the recent appointment of CIBC might suggest a share placing/ issue on TSX to raise funds to build a processing plant? Results due end of next week.