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.

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.

Can we have a breakdown of that?

Some news released by Atlas today :

http://www.pse.org.ph/html/disclosure/pdf/2007/pdf/dc2007-2354_AT.pdf

PHILIPPINE STOCK EXCHANGE
4th Floor, Philippine Stock Exchange Center,
Exchange Road, Ortigas Center, Pasig City

Attention: Atty. PETE M. MALABANAN Head, Disclosure Department

Mr. NOEL B. DEL CASTILLO Analyst

Re Clarification of News Article

Gentlemen:

This refers to your letter dated 23 April 2007 requesting Atlas Consolidated Mining and Development Corporation ("Atlas") to confirm the veracity of the information contained in the news article entitled "Atlas starts nickel project" which is posted in today's issue of the Manila Standard Today (Interned Edition), a portion of which reads:

"Berong Nickel Corporation, a unit of Atlas Consolidated Mining and Development Corporation, is infusing fresh investments of P1.2 billion into a new facility that will produce beneficiated nickel ore in Quezon, Palawan. The facility will have a capacity to process 1.47 million metric tons of nickel ore per year... The Berong nickel project is a joint venture between Atlas, Toledo Mining Corp., and Investika, Ltd..."

In reply, we represent as follows:

1. The amount of P1.2 billion pertains to the estimated cost of the project involving the production of beneficiated nickel ore which is the subject of the recent application for registration filed by Berong Nickel Corporation with the Board of Investments.

2. The funding for the foregoing project will be sourced from bank loans and additional contribution from shareholders.

3. As previously announced in a disclosure dated 17 April 2006, Atlas will be infusing the amount of US$5 million which was loaned from Toledo Mining Corporation Plc into the Berong nickel project.

4. As of 31 December 2006, Atlas has not received any revenue from the Berong nickel project.

Very truly yours,
ATLAS CONSOLIDATED MINING AND DEVELOPMENT CORPORATION

Perhaps we can expect a further update soon with a JORC report supporting a fund raising to build a processing plant. IVK shares moving up today and their next AGM in May has a tabled resolution to place a further 6 million shares to raise funds to be used for investment purposes.

Please enlighten me what is (Jorgh)folks thanks.

JORC, stands for Joint Ore Reserves Commitee. It is an Australian standard used globally to measure and value ore reserves.

Cost of processing plant is 1.2 billion peso's. 1 usd equals 47.67 pesos. Cost of plant in usd is $25.2 million approx In GB pounds it is 12.65 million. IVK are raising 6 million new shares, Atlas are investing the 5 million TMC loaned them. No mention of what TMC are doing as yet.

I think that now the decision has been made into which processing method to use, the full MPSA may not be long in being granted.

MANILA (XFN-ASIA) - Atlas Consolidated Mining and Development Corp said Berong Nickel Corp will invest 1.2 bln pesos to build a new nickel processing plant in the western Philippine province of Palawan.

Berong Nickel is a joint venture of Atlas and London-based Toledo Mining Plc and Investika Ltd of Australia for commercial mining of laterite nickel ore from the Berong mines in Palawan.

Atlas said the facility will have the capacity to process 1.47 mln metric tons of nickel ore annually. Construction of the plant will be funded by bank loans and additional equity from shareholders, it said.

It will be interesting to see what today brings !

Rumour has it that TMC are having a private placing of an extra 20% of shares, which equals approx 5.58 million shares at a price of 210p to raise their part of the capital for the processing plant.

Some of the local construction costs should be bank financed as stated by Atlas. TMC'S 56% share amounts to 7million approx with IVK funding the balance as Atlas are using the $5million loan from TMC to pay their share. So if that is the case there is no need for TMC to issue 20% more shares which at 210p would raise nearly 12million. No doubt all will be revealed shortly. IVK's board meet May 17th, Chris Kyriakou appears to have a beneficial interest in about 35% of the company, which owns directly and indirectly about 25% of Berong Mining Corporation.

Nickel price reaches $50,000 per tonne

The 5 large sales on yesterdays trades sheet, were in fact institutional buys totalling 240,000 shares. If you trace the (sale) to its proper time slot you will notice that the prices are at the higher end of spreads and sometimes above the spread. The MM's conned a lot of traders and triggered many stop losses by moving the price down to plus 1p, then within minutes all the above mentioned trades were completed and suddenly we had a 12p gain on the day. I keep saying that if you sell now you will not get back in at a cheaper price. This share is going all the way up to...........god knows where.