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.

MM's heading for a fall on balance of shares traded. Plus 57,000 bought more than sold and they drop the price by 7.5p, ugh? Trashing the price is totally unjustified. Unless they have suddenly found millions of shares that they forgot they had. haha Not a hope in hells chance. Last thing on Friday there was a large purchase that should have sent this racing away this morning, but they are playing their silly games again. A bit more patience and sp will move positively.

I don't get it. 80,000 surplus purchases and the price not moving? Last 3 trades on Friday bought 191,666 shares.

It Must move soon !!

I AM POSTING A SEVERE TRADING WARNING..................

IF YOU SELL ANY HOLDINGS IN TMC YOU MAY FIND YOURSELF LOCKED OUT..........

AS THIS STOCK BECOMES MORE LIQUID THE SP JUMPS WILL BECOME MORE SEVERE............

THE MM'S ARE CURRENTLY BUILDING UP STOCK AND NOT MOVING THE PRICE.......

THERE WILL BE A SUDDEN JUMP PROBABLY AT END OF DAY...............

JORC REPORT IMMENENT.......RESOURCE INCREASE.......NO DILUTION.........WORLD SHORTAGE OF PRODUCT.......DEMAND OUTWEIGHS SUPPLY.......BASIC RESOURCE VALUE INCREASING........WHAT MORE COULD YOU POSSIBLY WANT FROM AN INVESTMENT.

AS I SAID BEFORE, I AM NOT RAMPING THIS AS IT DOSN'T NEED IT. I'M JUST WARNING ALL THE SELLERS THAT IT MAY BE THEIR LAST CHANCE FOR SOME REAL MONEY. I'VE HELD THIS STOCK FOR OVER TWO YEARS NOW AND AT LAST I FEEL AS THOUGH WERE GETTING SOMEWHERE.

You may be right at present only able to buy 1500 max on line but can sell up to 50000!

Whoa!!

Up 14p in the last half hour, I told you so. All todays sellers are now out of the game.

a GOOD start today !!

Excellent, broken through 3 barrier in 10 mins of trading.

lets hope it ends the day around the 3 mark

I was hoping nearer to 4.

sounds good to me oily ! lets hope the mm's let it go


METALS FOCUS - Nickel premiums continue to rise amid tight conditions - Calyon

BaseMetals.com

Nickel physical premiums continue to rise as the market remains exceptionally tight, with low stocks and a strong demand in the stainless steel sector, broker Calyon said on Tuesday in a special report.

Supply tightness is reflected in persistently low LME inventories, which stood at around 5,000 tonnes during the past few months, it noted.

LME stocks fell by 36 tonnes to 4,980 tonnes on Tuesday, while cancelled warrants -- metal set to be removed -- rose by 14 percent, leaving only 3,390 tonnes of nickel available to the market, equivalent to about one day of global consumption.

"Although several stainless steel producers have indicated that they will cut output, this has not so far had any significant impact on the nickel market," calyon argued.

According to Brasilian iron ore producer Companhia Vale Do Rio Doce (CVRD), nickel production growth is "expected to meet the increase in demand in 2007", but with "no room for stock replenishing."

CVRD also predicted China would drive global stainless steel production, while a fast growth is also expected in India. The overall demand growth is due to remain solid, although some producers try to substitute from high nickel content steels (300 series) to lower or no-nickel content steels (200 and 400 series).

that was a nice buy 52000 @ 304

The market is finally waking up to the potential of TMC, these price rises are long over due. There is not much stock around in free float (around 25% of the company). With the demand as it is we are heading towards 5 pounds in no time, i can't see any consolidation occuring before.

Does anybody have a view on Investica(IVK) as a cheap way into TMC and Berong?

halifax, Investika is another way to realise a good potential profit but I believe they are a bit strapped for cash at the moment. 670,000 in bank. That is why they are diluting by 6,000,000 shares for their contribution towards the processing plant in Palawan. They will earn 2.09 times 6 million shares which equals 12,540,000 minus costs, minus contribution. Their contribution is about 6 million, leaving them with about the same in cash. Obviously they have their other assets to take into account, but I feel that it would be too much of a mirror investment to TMC earning a smaller profit so therefore what would be the point.

Oily in thread 223 you estimated the processing plant cost at 12.65m, IVK's shares are denominated in A$'s therefore the placing of up to 6 million new shares would raise about 2.5m which would cover their share as they directly own 18.7% of Berong. IVK has 14 million shares issued with a market cap of 30 million TMC has currently a market cap of 85 million. IVK has shareholdings in a number of other mining ventures.

well the first 25 min was good to watch ! more to come I hope :)

This is heading to 5 pounds very soon!

Hi halifax, IVK's shares are also quoted on AIM currently 252.5p up 26.5p on the day. I read somewhere that IVK were floating 6 million shares at 2.09 I have been searching everywhere to find it but can't at the moment. Still, in a few months time we shall all be rolling in it. I am aware that they have other resources and if you want to invest in them carry on. All I was trying to point out was that as TMC goes up so will IVK. So two similar investments going up at approx the same rate at the same time seems a waste to me. However one advantage would be that you could trade one off against the other if one rises too quickly. Good luck.