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.

XTA upped their offer for LOR to $25 per share from $18.50. Total valuation of LOR by XTA is now over $6 billion. I am off to research it but I believe TMC has more nickel than Lionore.

Lionore production figures for 2006.

Tati Nickel 13,677 tons 85% owned.
Nkomati Kickel 4,826 tons 50% owned.
Lake Johnston 9,737 tons 100% owned.
Waterloo 1,077 tons 100% owned.
Black Swan 7,190 tons owned.

Thunderbox 155,203 ounces gold 100% owned.

Honeymoon well project 1 million tons nickel contained 80% owned.

Lionore's actual nickel production for 2006 was 29,920 tons, this is about 18.47% of what Atlas are forecasting for Berong in 3 to 4 years time. There is also Ipilan and Ulugan to take into account.

Therefore this is further confirmation that at approx 5 times the resources of Lionore, TMC should be worth $100 per share or 50 approx.

Well, I have finally sold the last of what I am going to sell of TMC, the rest remains as a free carry now. Its been a good stock, I have made some very nice profits, but time to move on now.

TMC could be worth a lot of money, but it needs MPSA awarded so that they have a 25 year term, this will allow proper forecasting and will also get takeover interest going.

Presently, with 6 months left on a temporary mining permit (which can be applied to be extended once for 12 more months should MPSA not be given), its not going to attract any takeover interest imo, as its still too risky until they get MPSA awarded and have the 25 year term for mining.

I will no doubt buy some more back if and when MPSA comes, but until then, profit taken and now it worries me not if it goes up or down.

Good luck all, and hope it continues flying upwards for you.

testing break points, up- down, making sure before it runs again imo. still confident of a 400p push, it may walk straight through 400 as more buy-in then the hurdle will be 500p! dyor, wishful thinking as well of course!

TMC Bid: 325p Offer: 333p Change: 3

Volume hasn't been much at only 67k, but I like the fact that this continues to climb back towards its recent high.

Is Barclays 5% holding new?

Halifax, No................. The 5 times 25,000 trades that have all been delayed by an hour in recording, are all BUYS.

Can't be that many shares in free circulation? this should move up easy, still cant understand that director sale though.

Date Holder +/- Amount Shares held %
09-05-2007 Presidio Capital Holdings - 553,970 1,024,762 3.5700
23-03-2007 Fidelity International Limited - 88,000 1,764,544 6.2000
13-03-2007 Chrisilios Kyriakou + 400,000 1,400,000 5.0182
20-02-2007 Investika Ltd + 1,461,204 3,191,019 11.4000
05-02-2007 AXA - 50,000 4,055,850 14.7200
25-01-2007 AXA + 253,343 4,105,850 12.2700
28-12-2006 Fidelity International Limited + 170,600 1,852,544 6.7200
27-11-2006 Presidio Capital Holdings - 1,578,732 5.7300
27-11-2006 AXA + 180,000 3,852,507 13.9800
26-10-2006 Resources Investment Trust - 465,000 - -
25-10-2006 AXA + 285,000 3,672,507 13.3300
13-10-2006 AXA + 315,000 3,387,507 12.3000
02-06-2006 Fidelity International Limited + 105,000 1,681,944 6.1100
23-05-2006 AXA + 225,000 3,072,507 11.1500
23-05-2006 Fidelity International Limited + 30,000 1,576,944 5.7200
17-05-2006 Fidelity International Limited + 150,000 1,546,944 5.6200
16-05-2006 Fidelity International Limited + 372,500 1,396,944 5.0700
05-05-2006 Investika Ltd - 1,729,815 6.3000
05-05-2006 AXA - 629,625 2,847,507 10.3400
26-04-2006 AXA - 3,477,132 12.6200
*Shares held may be duplicated between holders.

Maybe he couldn't afford to buy them, and with the option running out, had to borrow the money short term to liquidate a free holding of 25,000 shares. This scenario would make sence and is purely guesswork. Nothing else fits..............Does anyone know where a shares availability can be checked by anyone so that the market makers cant continually cheat investors?

Can only buy 1000 at present on line MM offering to buy up to 50000 must be short of stock.

Where has the level playing field gone, ha ha..........I strikes me as very strange that the price, only seems to move on purchases and sales of smaller ammounts by private investors, and never seems to move on institutional buying. Why is this?

See what I mean, whilst posting last time one purchase of 1400 ish shares and price jumped 5p.

Another 2 x 25,000 BUYS an hour late and no sp movement, how strange. You cant con me, I know my selling price.

We need some sort of update and this will fly to 500p, can't see resistance at 400p, profit takers yes but straight up imo.

Oilyrag
Large scale purchases have to be delayed by one hour under LSE rules so reactions can already have occured.
The director sale is strange in that he had years left in which to do the option, apparantly though he is 63 years old - which may have a bearing.

From the other side in case anyone not got access

Total Diluted shares : 29.0m

Shares in issue - 28.898m
Major Shareholders : (over 3%)

AXA (Framlington)...........................4.11m............ 14.4%
Rab Capital .......................................3.09m ............ 10.8%
Investika............................................3.2m...............11.2%
Presidio Capital Holdings (hk).........1.02m........... ..3.75%
Capita Trust Company Limited.........1.54m...............5.38%
Fidelity FMR Corp............................1.76m...............6.16%
Barclays PLC................................. ...1.44m............... 5.00%
Alfredo Ramos (Atlas Director).........1.3m.................4.48%
M Buckinham(Atlas Director)...........0.95m................3.28%
Golden Dragon Trading Limited........0 .50m..............1.75%
HSBC Global Custody Nominee....... 0.54m................1.89%
Chris Kyriakou........................... .. ....1.40m.................4.90
W B Nominees Limited....................1.12m..................3.92%
Willbro Nominees Limited...............0.60m.................2.10%
Reg Eccles(Director)............... ..........0.03m.................0.01%
Total.......................................22.62m...........78.10%

Plus Scottish Widows and GS Mineral fund from April 2006 placing

Options o/s: 360K

360,000 at 150p expiring 30 Nov 2011(Directors and other employees)

(Estimated based on announcements on options exercised up to and including May 11, 2007))


Philippines Nickel deposits on Palawan Island

Berong (56.1%) Other owners - Atlas CMDC 25.2%, Investika Ltd 18.7%
275 mt @ 1.3% Ni
Direct shipping resource - 1st contract for 350k tpa @ 2.3% Ni with Nippon Metals & Alloy Co.
Click for Project details

Celestial(52% with option to increase to 71.2%)
MPSA alrady granted.
Click for Project details

Ulugan (58%)
To expend $1m over 3 years.
Click for Project details


Table of World Nickel Resources (Extract)

Rank......Project........Country...Owner.....Ore-Type... ...dmt....Ni %.....Ni-Kt
1..........Koniambo...........New-.Cal.....Falco.......Saprolite.......311.....2.12%.....6.59
2..........Goro-Nickel.......New-Cal.....INCO........Lim&Sap ......296.....1.63%.....4.82
3..........Sipilou................Ivory-Co.....Falco.......Limonite........258.....1.46%.....3.77
4..........Berong..........Philipp......BNC........Lim&Sap........275....1.30......3.58
5.........Gag-Island.........Indones.......BHP.........Limonite........240.....1.35%....3.24
6.........Murrin-Murrin... Australi.......Minera......Limonite........327.....0.99%....3.24
7.........Soroake..............Indones.......INCO.......Saprolite.......179.....1.70%....3.04

17.......Onca-Puma........Brazil........Canico......Saprolite.......110.....1.80%....1.98
sold for 430m (net of cash on-hand) Dec 2005


28......Celestial.........Philippi....CNMEC......Limonite......77.....1.29%...0.99

Thanks laurie, but surely they should be able to record accuratly what the transaction was, i.e. buy or sale. After all we are talking about top professionals who are paid a lot of money. There are only two options and they cant get that right. I find it laughable as we are talking about the whole infrastructure upon which investments and pensions are based on. Its no wonder the country is in the state it is.

Halifax, I would tend to agree that the MM may be short of stock; the wide spread supports this.

TMC Bid: 332p Offer: 340p Change: 10