Nickel Asia Corporation reported unaudited consolidated financial and operating results for the first quarter ended March 31, 2013. For the quarter, the company reported an attributable net income (net of minority interests) of PHP 100.3 million as compared to PHP 286.0 million reported during the same period last year. The weaker earnings was mainly the result of lower prices for ore products sold on the basis of prices quoted in the London Metal Exchange (LME), a stronger peso and higher depreciation expenses. Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to PHP 629.8 million compared to PHP 932.4 million in the prior year. Total revenues during the comparable first quarter periods decreased from PHP 1.75 billion in 2012 to PHP 1.40 billion in 2013. Basic and diluted earnings per share were PHP 0.05, compared to PHP 0.14 for the last year. Income before income tax was PHP 321.106 million, compared to PHP 694.878 million for the last year. In terms of total volume of nickel ore sold, the company shipped 1.74 million wet metric tons (WMT) during the first quarter of the year compared with 1.82 million WMT in the same period last year. Of the total volume of ore sold, 307,000 WMT of saprolite ore was shipped to Japanese customers, 581,000 WMT of low-grade saprolite and limonite ore were shipped to Chinese customers and 852,000 WMT of limonite ore was delivered to the Coral Bay hydrometallurgical processing plant. The corresponding figures for 2012 were 223,000 WMT, 655,000 WMT and 942,000 WMT, respectively. Shipments during the first quarter were primarily from the company's Rio Tuba and Taganito mines, as operations at the Taganaan and Cagdianao mines typically commence in the second quarter following the rainy season. The Rio Tuba mine shipped and delivered 477,000 WMT of saprolite ore and one million WMT of limonite ore, while the Taganito mine shipped a total of 197,000 WMT of saprolite ore. The company's Taganaan mine had an early start this year and made its first shipment of 55,000 WMT of limonite ore during the latter part of the quarter. The company's fourth mine, Cagdianao, commenced ore shipments last month.

Nickel Asia Corporation reported audited consolidated financial and operating results for the year ended December 31, 2012. For the year, the company reported revenues of PHP 11,606.91 million compared to PHP 12,694.71 million a year ago. Income before income tax was PHP 4,488.73 million compared to PHP 7,150.68 million a year ago. Net income attributable to equity holders of the parent was PHP 2,221.32 million or PHP 1.10 per diluted share compared to PHP 3,536.47 million or PHP 1.75 per diluted share a year ago. The company's total volume of ore shipped increased by 13% to 11.73 million wet metric tons (WMT) from 10.39 million WMT in 2011. Of the total volume of shipments in 2012, 4.24 million WMT was saprolite ore and 7.49 million WMT limonite ore, of which 3.35 million WMT was delivered to the Coral Bay hydrometallurgical processing plant. The corresponding figures for 2011 were 3.95 million WMT, 6.43 million WMT and 2.98 million WMT, respectively.

Nickel Asia Corporation in its AGM to be held on June 3, 2013, proposed cash dividend of PHP 0.35 per share. Record date is April 22, 2013 and dividend payable is on May 14, 2013. Ex-date of dividend is April 17, 2013.