DMCI mining subsidiary acquires shares in Toledo Mining, Nickeline Resources

DMCI Mining Corp., a wholly-owned subsidiary of DMCI Holdings Inc., has acquired 17 percent of Daintree Resources Ltd.'s stake in Toledo Mining Corp. In a disclosure to the stock exchange on Thursday, DMCI Holdings said the acquisition consisted of 8.48 million shares at a price of GBP0.40 ($0.25) per share. Daintree Resources is an Australian investment firm, jointly owned by Jason Cheng and an associate. Daintree held 24.01 percent of Toledo Mining, which mines and ships nickel from Palawan. Early this week, DMCI Mining also acquired a 31-percent stake in Nickeline Resources Holdings for $6.552 million. Nickeline owns 60-percent of Berong Nickel Corp., a joint venture between Toledo Mining, Atlas Consolidated Mining and Development Corp. and European Nickel Plc. ENK is owned 87.7 percent by DMCI along with D&A Income Ltd, a British investment firm. ENK is the developer of the Acoje project in Zambales. DMCI has interests in construction services, power generation, water utility, infrastructure development, real estate, mining and coal exploration. — BM, GMA News