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.

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

Today's trading volume is now approaching half a million shares and it's not yet lunchtime. The peak days over the last three months have seen around one million shares traded, the biggest volume being 1.5 mil.

Nice bounce up today long may it continue as sola and gng have gone a bit dull lately. Soul I'd like your opinion of BTR blue star mobile as I've picked up a small holding pre results---I'm tempted to keep adding as no one seems to have noticed it yet . It looks a cracker to me I'll have to start a thread. sorry o/t all.

Oilyrag, unfortunately the system simply doesn't work like that, as the trades are recorded as they go across the market and the deal price is compared with the spread that exists at the time the trade is reported. It's up to us to be clever enough to work out whether the late-reported trades (or any large ones) are really buys or sells. On the face of today's 3% price rise, I'd say that they were buys.

Barclays have either bought for the first time or they have increased their holding, by law they must report a holding over 3%, so they had a holding between 0% to 3%. This is good news as they must have bought a substantial amount around the 300p mark and see it as good value.

The volume for today has tailed off a bit, but the SP is continuing a nice climb that it began yesterday afternoon, and looks set to finish today at its intraday high. All of which augurs well for another good start tomorrow.

TMC Bid: 337p Offer: 342p Change: 13.5. 527K traded

It looks as if the latest weekness was engineered to get Barclays in/help them add more, don't you think!

Anyway welcome aboard Barclays and I only wish I'd bought more on the dip as well.

1000p does feel like a reality on this one, especially if they do announce long term mining apps are agreed.

I love you, Ellio - every time you post, your target price gets higher :o)

Bring it on, I say! However, I have to be realistic about this and will make sure I take profits before my T+25 closes. (I'm up 12% since Friday - can't be bad!)

So much for closing at the day's high - a bit of P/T going on here: TMC Bid: 335p Offer: 340p Change: 11.5

Bid up 5p, Offer unchanged, mid up 3.5p MM's are short of stock again. Should start rising soon.

It's doing it now, Oily: TMC Bid: 343p Offer: 348p Change: 9

99 mil mkt cap, 195K traded so far today, and it's looking good to test the 360p resistance in the next few days.

Has anyone heard anything about the date of the announcement of the JORC results?

I heard rumour that next announcement is opps update end of June.

Thanks.

Back to that old wider spread again: TMC Bid: 340p Offer: 348p Change: 7.5

Just added a 1000