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.

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!

Looks like the same scenario as yesterday, look out for top up opportunities.

MM,s mucking about with the spread again. Down 2.5p should only be down 1p because the spread has been opened by 3p. An observation that I have just made is that, all the late trades that are being reported are not affecting the price. Yesterday after the recovery in share price I was of the impression that it didn't matter what trades were made the SP was sticking at plus 1p.

Talking of price manipulation, I feel that the only time during the last year or so, when the SP on this epic wasn't being controlled, was during the last couple of weeks probably because institutional investment has gone as far as it can without them treading on each others toes.

Oilyrag
I noticed a strong hand from the mm's in 6 different shares yesterday all with strong tree shakes.
Do you think someone was doing a fund raiser for their holiday?
I still think it should be illegal to drop the sp for sales.

I agree all this suggests the MMs know some positive news is imminent