Security Name : Atlas Cons. Mining and Dev't Corp.
Date : 07/18/2007
Headline : Atlas mining may list in London, Toronto bourse

Content : Atlas Consolidated Mining Corp. on Wednesday is mulling double-listing at the London, Toronto or Australian exchanges, company officials said. The firm will undertake the simultaneous listing in order to raise $100 M, which will be used to finance its projects. Atlas unit Carmen Copper Corp. is in the middle of rehabilitation work on a copper mine in Toledo, Cebu. Carmen Copper has drawn down a $100-M loan facility with Deutsche Bank, which would be used to fund initial stages of the rehabilitation work.

Security Name : Atlas Cons. Mining and Dev't Corp.
Date : 07/19/2007
Headline : ACMDC sees income reaching P500M this year

Content : Atlas Consolidated Mining and Development Corp. (ACMDC) is hoping to earn at least P500 M this year from its existing nickel mining operations. For 2008, Atlas is optimistic that revenues will reach P2 B to P3 B once its Carmen Copper mine starts operating in the second quarter next year. Atlas chairman Alfredo C. Ramos issued this statement at the firm's annual stockholders' meeting at the Dusit Hotel in Makati. During that meeting Ramos revealed Atlas' plan for a dual listing abroad. Ramos said they are currently looking at the listing requirements of the London Stock Exchange and those of Toronto and Australia. Ramos said listing in London is important because London is currently "the center for mining stocks." Without going into details, Ramos said the company's planned foreign offering would have to be a minimum of "at least $100 M to peak the interest of foreign investors." The offering involves primary shares, Ramos added, rather than secondary shares which will only dilute existing shareholdings. Funds raised from the foreign offering will be used for further expansion of Atlas' mining activities. Atlas' Carmen Copper mines is still in the process of rehabilitation and is not expected to start operation until the second quarter of 2008 with an expected initial production of 20,000 tons. Atlas' Berong Nickel Corp. is operating quite favorably having shipped out 385,000 metric tons of wet nickel laterite to date. Berong is targeting a production of one M tons per year, Ramos said, with production projected to increase to three M, then six and up to nine M tons per year. China is currently the major market for nickel, Ramos said, although Atlas is in discussion with potential buyers from India, Taiwan, Korea and Japan. Nickel is used in the production of stainless steel products. Nickel prices have dropped in the past week. From a previous historic high of $54,000 per ton, the price of nickel has gone down to $32,000 per ton and is expected to however between $28,000 and $32,000 per ton.

# Security Name : Atlas Cons. Mining and Dev't Corp.
# Date : 08/08/2007
# Headline : Toledo Mining gets Atlas shares
# Source :
# Content : Atlas Consolidated Mining and Development Corp. disclosed to the Philippine Stock Exchange on Tuesday that Toledo Mining Corp. (TMC) would be converting the debt it extended to Berong Nickel Mining Corp. into shares in the listed firm. The Atlas Consolidated board has approved the issuance of 12.98 M common shares to TMC for conversion of the $2.75 M it advanced to Berong pursuant to the loan agreement the two firms signed on April 15. The agreement, which was reached at the time the market price of Atlas shares stood at P7.80 a share, stipulated that the shares to be issued to Toledo would not change the nature of Atlas' business, directors and officers, corporate name and organizational structure. The Berong project in Palawan, a joint venture of Atlas, Toledo Mining Corp. PLC and Investika Ltd. has since shipped several thousand tons of laterite ore to China. The nickel mine is expected to operate at a rate of approximately 1.5 M tons a year by 2008. Toledo Mining, which is listed on the alternative investments market segment of the London Stock Exchange, also has other nickel laterite projects in Celestial and Ulugan, also in Palawan.

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Atlas Cons. Mining and Dev't Corp.
09/05/2007

Berong Nickel Corporation signs long term laterite ore - 1

The Directors of Atlas Consolidated Mining & Development Corporation are pleased to announce the signing of a long term laterite ore supply agreement between its subsidiary Berong Nickel Corporation and Queensland Nickel Pty Ltd (QNPL), a BHP Billiton company. The laterite ore will be shipped to the Yabulu Refinery in North Queensland, Australia. The ore supply agreement is for a five-year term with options on the part of QNPL to extend the term for an additional five years. The contract volume is up to 500,000 wet metric tons per calendar year at a nickel grade of greater than 1.5% Ni. Any additional sale above this contracted volume will be on the basis of spot sales. Shipments will be up to a maximum of 70,000 wet metric tons in weight depending upon the size of the ship. The first shipment under the contract is scheduled for loading at Berong on 21 September 2007. The QNPL contract will provide a base load for the mining operations in Palawan. Negotiations are continuing with several Chinese end-user customers for additional long-term contracts of similar volumes. Notwithstanding the recent falls in LME nickel prices and reports of excess laterite ore stocks in China, the market for higher-grade laterite ores 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 annualized rate of greater than 1 M wet metric tons per year. Operations continue to ramp up to a target production rate of 1.5 M wet metric tons per year. Operations continue to ramp up to a target production rate of 1.5 M wet metric tons for 2008. Forecast mine production for calendar year 2007 is estimated at over 850,000 wet metric tons, with approximately 700,000 wet metric tons shipped during the same period. Ore shipped is influenced by weather conditions and the availability of vessels. Mr. George Bujtor, CEO of TMM, a 60% Atlas subsidiary which manages the Berong Project 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 to the company's long term goal of value-added processing".

# Security Name : Atlas Cons. Mining and Dev't Corp.
# Date : 09/21/2007
# Headline : Atlas subsidiary to increase capital
# Source :
# Content : Atlas Consolidated Mining and Development Corp. told the Philippine Stock Exchange that its wholly-owned subsidiary would raise its authorized capital stock to accommodate the Toledo mining project the parent is undertaking. In a disclosure, Atlas said its board and the stockholders of Carmen Copper Corp. approved the increase in the subsidiary's authorized capital stock from P10 M to P3.2 B. Of the increase, Atlas would subscribe to P3.19 B of the shares, pursuant to the terms and conditions of the parent's registration with the Board of Investments and shall be paid through the assignment of mining rights and assets under the May 2006 Atlas-Carmen Copper operating agreement approved by the government. As stated in last year's accord, investment house Crescent Asian Special Opportunities Portfolio (Casop) would infuse $33 M in Carmen Copper to rehabilitate its copper mine in Toledo City, Cebu. The infusion would be made through a $5-M convertible bond up front and a $28-M subscription for new shares upon finalization of a senior debt instrument and off-take agreement for the copper project. The funds raised from the convertible debt notes were initially used to remove the water from the underground mine in preparation for rehabilitation. The agreement also stated that Casop would shoulder a portion of Carmen Copper's debts of $7 M, which will be converted into equity at P10 a share of Atlas.