IVK Investika Di

RNS Number:4910I
Investika Ltd
05 September 2006

                                 Investika Ltd



                             Berong Nickel Project

     Final Permits in place to allow shipment of bulk metallurgical sample



5 September 2006



The following announcement relates to the Berong Nickel Project Joint Venture,
in which Investika has a direct 18.7% interest and an interest through its
investment in Toledo Mining Corporation plc.



The Berong Nickel Project Joint Venture (the Venture) announces it has been
granted all the permits necessary for the initial trial bulk metallurgical
sample for its Berong Nickel Project on Palawan Island.



The permits enable the Venture to continue project development and ship out a
trial bulk metallurgical sample of approximately 30,000 dry metric tons of ore
grading around 1.7% nickel (assuming 10% dilution).  The trial shipment is
expected to be undertaken in late September/ early October 2006 using local
contractors, with commercial operations expected to commence in November/
December 2006.



Project development work to enable the safe extraction and shipment of the bulk
sample has progressed rapidly.  Leighton Contractors (Philippines) Inc. has
almost completed the construction of the temporary causeway; the coastal
stockpile area with associated environmental controls is approximately 50%
complete; the access road to the mine site is being widened to allow 2-way
traffic; fuel storage facilities have been erected; and, office/ accommodation
facilities are near to completion. Further, the navigational buoys have been
manufactured and are ready for placement along the 50km ocean approach channel.



As previously reported, an export target of 80,000 to 90,000 dry metric tons
(dmt) of ore has been set for 2006, 620,000 dmt for 2007 and 1 million dmt for
2008 and beyond.



The development of the mining operations in an environmentally responsible and
sustainable manner will provide an immediate benefit to the local communities at
Berong, the nearby city of Quezon, the provincial capital of Puerto Princesa,
and the broader Philippine economy.  Employment opportunities, education and
skills training, livelihood programs and business opportunities will arise and
provide a measurable increase in living standards.



George Bujtor, Chief Executive Officer of the Venture, commented:



"Being granted all the permits necessary for the initial trial bulk
metallurgical sample is extremely positive for the Venture.  The issuance of the
permits is the culmination of diligent effort by the staff of the DENR and the
joint venture partners. Whilst further approvals such as the Mineral Production
Sharing Agreement are undergoing final processing, we can confidently expect
full commercial operations to commence before year end 2006".



George Bujtor 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.



Enquiries to:



Chrisilios Kyriakou, Chief Executive Officer

Investika Ltd

Telephone: 020 7514 1480



Paul Dudley/Peter Jackson/Philip Haydn-Slater

WH Ireland Limited

Telephone: 020 7220 1666


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

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