Toledo announced that Mr Felix Pole non executive director of the company will be stepping down from his position at the end of June 2011. It had been Mr Felix's intention to stand down at the last Annual General Meeting of the Company. This was delayed by mutual agreement to enable him to assist in the development of the commercial opportunities which have now resulted in the reopening of the Berong Nickel Mine.

Mr Felix has resigned from the Toledo Board to focus on his own business interests but will continue to be available to the Company on a consultancy basis.

Mr Reg Eccles chairman of Toledo said that "Toledo wishes to thank Mr Felix for his very significant contribution to bringing Toledo through a most challenging 3 years. Late last year and early this, Mr Felix played an integral role in overseeing the marketing initiative which has now facilitated the reopening of the Berong mine. I cannot imagine that we will not call on Felix's expertise in the future, but acknowledge his wish to pursue his other business interests."