Interesting little company. Did a series of asset swops to leave them with half of the 4th largest Nickel deposit in the world.
The deposit itself is in the Philippines has been known about for 30 years but due to low prices and lack of demand in the Far East it was never exploited. With the explosion in demand from India and China the nickel price has climbed from $2 to $6.50 but oddly enough is still considered low.
The final approval stage for exploitation is just about to be approved and extraction will begin. The company already has one contract with a Japanese smelter and is in discussions with smelters in a series of countries.
Nothing clever about the operation, as the ore is of sufficiently high grade, they dig it up and ship it out. Infrastrucure is already in place for operation.
TMC is currently priced at 18m, the initial Japanese contract is worth 4m and each additional contract will hopefully be at this level or greater.
Final approval turns the company into a producer and each additional contract simply increases their size.
The management is tight with cash and has some good quality mining skills onboard.
The Philippine government is fast tracking the final approval and the company says it expects it shortly.
One to hold for approval and through the series of RNS's as more contracts are won. Company should be worth 50m in 6 months and 100m in 12-18 months.
Buy it, ignore it, just pointing this one out.

TMC plan to ship 1 million tons this year. In my estimation that will yield a profit of around 20M, with 28M shares in issue and a pe ratio of 10, that would give us a share price of around 7.00.

4 x 25,000 shares gone through at 10p below the spread. I have a hunch that these are institutional buys and not sales. Are we being conned again? Having said that, at +15.5p so far today I,m reasonably happy.

If you look at the timings of those trades you will notice that at the specific times they were bought were at market rates.

Even though TMC is up 17 points so far, this is a long over due correction. I'm not jumping for joy yet. This will continue to rise to much greater levels.

Watch out mm's are preparing to drop the sp to pick up traders shares.

http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=TMC:LN&sid=auCCYVlID.Ms

Must say glad im in !! :)

smiler, nice post, nickel up 13% to 24,745 per ton. I've been in this one for 2 years now and at last we seem to be making progress. Take over bid is too early in my book, but then we have to take whats coming.

yes interesting times ahead !! :)

Of Interest

http://fxtrade.oanda.com/resources/ubsnews/newscontent/134544.shtml

Sumitomo Metal to boost nickel production by 2013

Independent today:

The AIM-listed Toledo Mining was 12.5p better at 185p, as speculation mounted that it is poised to confirm a deal with BHP Billiton to supply the mining major with its entire nickel output.

Still agree with the other side that it will be 500,000 of the higher quality not all the Limonite. But still great news!

Now thats what I call taking the p.ss. 39,000 bought 44,000 sold, for a 5,000 share trade deficit they take 8p off the price. Watch the mindless leemings sell out, due to unneccessary panic, only to find tomorrow they are locked out unless they put their hands deeper into their pockets.

During the time I posted the last post, trade deficit dropped to 21,000 and sp down 11p. Morons.

Almost recovered in late trading after 25,000 all blue trades. Minus 2.5p on the day so far. I want a good finish in the last hour, so that all the morons that sold out, are left out, and we can then concentrate on some steady growth by keeping our holdings and making the mm,s sweat a bit.

Whilst typing the last post, TMC gained 3.5p and is currently plus 1p on the day, remarkable.

I wish I had topped up when it dropped ! :(

Managed to buy on the dip @ 182.5. Looks like I started something...
Thanks niceonecyril for the tip (IEC thread)

Topped up 2,000 at 1.80p.

wish I had laurie, but still pleased with it, if it should drop again I will be a bit quicker next time :)

Just needs to get past the 2 mental block and then 2.50 is fairly easy but 2 has proved a barrier so far.

Up 1p by close, it looks like a classic tree shaking as the mm's are short of stock. They may have triggered some stop losses at the same time may have flushed out some hot money. Onwards and upwards we go!