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.

Price going up !

SP heading south today MM shaking the tree again! Presumably progress report due soon?

Quarterly Operations Update was on the 19th April last year so we should get it by end of this week.

From Investika

18 April 2007
Company Announcements
The Australian Securities Exchange Ltd.
Dear Sir
Re: Quarterly Activities Report to 31 March 2007
Berong Nickel Project, Philippines (18.7% Direct interest, 6.2% indirect interest)
A total of approximately 121,391 tonnes of laterite nickel ore was shipped to China in three separate shipments-
o Shipment 1 18,819 wet metric tons 1.44% Ni
o Shipment 2 51,103 wet metric tons 1.57% Ni
o Shipment 3 51,468 wet metric tons 1.51% Ni
At quarter end, a fourth ship of over 50,000 wet metric tons was one day short of being fully loaded, with a fifth ship of similar capacity currently being loaded.
All ore shipments were extracted from the bulk metallurgical sample area, and are being tested in various plants across China to assess the suitability of the ore in the Chinese nickel pig iron, acid leaching and ferro-nickel processing plants. Initial test results indicate the Berong ore is of superior quality with low phosphorus content. This will pave the way for long term supply contracts.
Production is on track to reach the export target of approximately 900,000 wet metric tons for 2007. However, production will be heavily dependent on weather patterns and rainfall levels. Production costs are as planned.
Demand for nickel ore, across all grade ranges from 1% to above 2% nickel ore grade, exceeds supply by a large margin. Consequently, nickel ore payment terms continue to rise to historical highs. Up until late 2006, laterite nickel ore prices were based on individually negotiated producer prices. Today, laterite ore prices are directly linked to the LME nickel price as a percentage of the LME price. The percentage varies according to the nickel grade and is calculated on the contained nickel content of the ore, on a dry basis. The Berong project is able to supply all nickel grade ranges, and all sales are directly linked to the LME nickel price. No hedging is undertaken.
The access road from the bulk metallurgical sample area to the commercial mining area has been completed and bench formation commenced. Future ore shipments will come mainly from this area where nickel ore grades are higher.
Project activities currently underway or being programmed include the design of the permanent office and accommodation village, construction of the assay laboratory facilities, the design of the Dangla road and the assessment of the trestle conveyor for the direct loading of ships. Permit approvals have delayed thestart of construction of the Dangla road, a dedicated haul road without community development along its route. Modelling of the sea conditions and design of the trestle conveyor continues.
A JORC compliant mineral resource prepared by Snowdens Mining Industry Consultants from Perth, Australia was completed in draft form and is currently being reviewed.
The assessment of processing options to add value to the large Berong lateritic resource continued. SNC Lavalin is undertaking this work and covers the metallurgical testing of the various ore types and assessing the most suitable processing options covering high pressure acid leaching, vat leaching, ferro-nickel smelting and the Chinese nickel pig iron process.

RNS TMC all of the above and Cellestial 1.5 million wet tons and DSO IN 2007.
wow!

Now all we need to know is the market price of a ton of ore (wet or dry) ?

Toledo update prompts rally

Wed 18 Apr 2007

TMC - Toledo Mining Corporation

LONDON (SHARECAST) - AIM-listed Toledo Mining today reported progress from both the Berong and Ipilan nickel projects, sending its shares to a new all time high.

Berong Nickel, in which the group owns a 56.1% economic interest, has shipped about 121,391 tonnes of laterite nickel ore to China during the quarter ended 31 March.

In addition, a ship of over 50,000 wet metric tons was one day short of being filled at quarter end, with another one of similar capacity currently being loaded.

Production is on track to reach the export target of approximately 900,000 wet metric tons for 2007.

Initial test results indicate the Berong ore is of superior quality with low phosphorus content. This will pave the way for long term supply contracts, the group added.

At the Ipilan nickel project, field exploration and evaluation activities continued with excellent progress, said Toledo.

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=1213842

Now dealing outside of the spread. MM's determined to try and rip us off again instead of show a due rise. I'm staying put for 35 per share, then retiring.

O/S sorry!. now that TMC. has bounced why not get on KMR before it follows?.

Now that KMR is bumping up against resistance again, why not get on TMC which is on a breakout?

LOVE IT.

It looks like the general market are waking up to the potential, any purchase under 5 pounds is cheap. City presentations are due next week. We are also awaiting a JORC report which will value the assets. Then hopefully a broker re rating!

Just wish I had bought more!

You still can.

Yup - still ludicrously undervalued!

5 not far to go 35 when Ipilan starts producing.

WISH I GOT THE CASH TO GET SOME BUT IVE NOT UNFORTUNATLY

Rumour on the dark side is 10 per share very soon.

Now that would be good !!

Extremley good but im not hoping againgst hope let it build slowly not all at once.