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.

The late reporting of a deal struck at 14:04 for 20,000 shares is a buy not a sell.

Down 2.5p to minus 6p, must be a large buy coming soon.

oily, yes a nice 175k @ 1604 , wish I had that much cash ! :)

It looks like the institutions are soaking up the sells, as some mug private investors are selling off a this early stage in the story.

400p push!!

According to an article in Metal Bulletin today Berong will produce 15000 tons of nickel this year gross. Today the price of nickel reached $52805 per ton!

Thats half a billion pounds, I think!, wonder what the profitability is per ton?

Not sure if you guys think TMC are making half a billion or summat here, but they are not producing nickel, they are digging nickel ore out of the ground and shipping it to customers. I believe the price of ore, dependant on grade is somewhere between $85 and $250 per ton.

Metal Bulletin report states Berong has shipped 350000 tons of ore to chinese processors so far. They are said to be negotiating long term supply contracts with australian and japanese buyers. At say an average of US$150 per ton for ore exports current annual production would generate US$100Million FOB. We await news of plans to construct a processing plant which of course would enhance the value of their exports enormously.

Processing plant seems a no brainer, if yeild can be increased that significantly.

ellio, 400p push!! it the minute I would be happy with a 350p push!!!!!! 16:00 down 28p

oops, some big buys recently though taking a longer term view! oily gone quiet though!!

Hi, havn't gone quiet just too busy analysing trades. We are being conned. I have just sold all the dross in my portfolio and am now sitting on a cash pile ready to buy more of this. RNS from Atlas very positive. Some inst's are selling but nothing to worry about in my book. No directors are selling because they know its worth. Next week the tmc boys are having dinner with the phillipine president, hopefully a prelude to, or celebration of MPSA. 4 years to retirement, good luck to all holders, DYOR.

Am adding also, just waiting to see the new bottom? had a feeling this would happen though,, 350 was the current top and we should of predicted early profit taking, they'll be back in at the new bottom but have already reaped a nice 70p profit, honestly though they would try 400p first, anyway lots will be looking for the new entry point which could be 250p imo, we'll see but long term the facts seem to be there so we shall see! Think 10 is reasonable long term target but with news who knows.

280p now...but I think bottom is not reached yet.

TMC Bid: 282p Offer: 289p Change: -17 400K traded.

That's a fall of over 20% in a week, but a bounce has to come some time. Intraday there seems to be support around 280. Will the SP stop sliding by itself or is it in freefall until news comes out?

Price seems to be nudging back up a little: TMC Bid: 290p Offer: 297p Change: -9

I have gone in for a few in the hopes that this is the beginning of the bounce-back.

Good luck to all.

Investika (IVK) has its AGM on 17th May we should get an update then.

Buys to sells apparently 3:2.

TMC Bid: 293p Offer: 301p Change: -5.5 now with over half a million traded. It's doing it's best to get back up there.