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.

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.

Agree Parkin, it might give me time to find some more cash !

This is more peaceful almost 200 posts on the other side.

Good start today, up 22.5p so far. JORC due for release soon. Rumoured to be a substantial increase in resource size.

A purchase for a single share just gone through?

Just topped up! I won't consider selling under 8 pounds.

My mate reckons that 46 is fair value when everything is in place.