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 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

AT THE CURRENT RATE OF INSTITUTIONAL PURCHASING, IT WILL TAKE ANOTHER 25 TRADING DAYS FOR THEM TO BE HOLDING 100% OF ISSUED SHARE CAPITAL. APPROX 200,000 PER DAY. ONLY 5,800,000 NOT HELD BY INSTITUTIONS AT THE MOMENT. TIMEWISE THIS WILL COINCIDE WITH THE NEXT RNS. I WOULD STRONGLY ADVISE AGAINST SETTING STOP LOSSES AS THIS IS EXACTLY WHAT THE MM'S WANT SO THAT THEY CAN RUBBISH THE SP AND PICK UP YOUR STOCK ON THE CHEAP. ALSO HOT MONEY BUYING ON T20'S AND THE LIKE, THEY WILL BE TRYING TO STING YOU FOR MORE. THE ONLY SAFE BET IS TO PURCHASE WHAT YOU CAN AFFORD AND KEEP THEM FOR THE FORSEEABLE FUTURE. THE MM'S WOULD THEN BE UP SHIT STREET WITHOUT A PADDLE, WITH THE PRICE SPIRALLING OUT OF CONTROL BECAUSE THE ONLY WAY FOR THEM TO PURCHASE YOUR SHARES IS BY GOING TO THE MARKET AND TEMPTING YOU OUT WITH HIGHER PRICES. PLEASE STOP SELLING CHEAPLY.

I keep adding, all be it at very low comparative levels, but am convinced of tmc future, everything crossed for the next update, but can see swift rise to 500p, hope we're all correct!!

Interesting point, Oily. Certainly 75% of the stock is currently in the hands of major shareholders (i.e. institutions) and the directors, and that's just the holdings that are published. There must be a clutch of smaller fund managers also holding this stock.

As for the hot money on T20's, well, that's how I've got in on this occasion and in a few weeks' time I'll be obliged to sell as I bought on credit. However, you can be pretty certain that I shall be wanting to hang on to them for as long as possible.

I guess one can interpret that the drop this afternoon and widening of the spread is another attempt to make the most out of a tight situation and shake out some short-termers. On the bright side, if there are a lot of short-term traders out there then at least there is the hope of some continued liquidity. Otherwise, what we need is some very big bit of good news to send the SP sky-high and force a bit of profit-taking by the big boys.

However, at the end of the day, a steadily rising Sp is not to be argued with :o)

Ellio, if it hits 500p before I sell, there'll be a free ice-cream in it for you :o)

On the other side some 10 to 15% of the company is owned by people on the board. People I trust in regard to ownership i.e. a few own 1% + of company. So Oily rag I couldn't agree more.

The words "illiquid stock" are beginning to flash across my brain.

24K sold, 1K bought so far this morning. I think this is what is technically known as "thin trading".

TMC Bid: 332p Offer: 342p Change: -2

10p spread again - MM's clearly want us to sell, and we're just not getting the message :o)

FWIW, nickel slid a bit yesterday, down 3% to $48,800, according to FT.com.

Nickel still down this morning and sp down 5p I believe in sympathy.
Nickel stock though are still really low, unlike Copper so why is is following Coppers lead?