Sale of Shares in Toledo Mining to Strategic Investor
11 January 2010 - London:European Nickel PLC ("European Nickel" or the
"Company") (AIM, PLUS: ENK) announces that it has today sold 2.5 million shares
in Toledo Mining Corporation Plc ("Toledo") (AIM: TMC) to a strategic investor.
European Nickel retains 3.19 million shares (approx a 7.7% shareholding) in
Toledo and combined with its direct 18.7% shareholding in the Toledo subsidiary
Berong Nickel Corporation ("Berong"), which is controlling the development of
the large Berong nickel laterite deposits, the Company has an effective 23.0%
interest in Berong. The Toledo shares were acquired in June 2008 as part of the
transaction in which European Nickel acquired its strategic position in the
Berong deposits.
For more information, please visit www.enickel.co.uk <http://www.enickel.co.uk/>
or contact:
Simon Purkiss or Andrew Lindsay, European Nickel
Tel:+44 20 7290 3130
Mike Jones or Andrew Chubb, Canaccord Adams
Tel: +44 20 7050 6500
Alex Buck, BuckBias
Tel: +44 7932 740 452
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