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.

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?

Could be nerves, or profit-taking.

SP: TMC Bid: 330p Offer: 335p Change: -6.5. but still only 68K traded.

Nickel back up by 3.5% by end of play.

Dead right - back up to $50,500.

Recovering again this a.m.: TMC Bid: 333p Offer: 342p Change: 6.5, 137K traded.

Mkt cap 98 mil

Slow progress!!

No ice creams me thinks!

Champagne in Monaco more like it when the next progress report is announced!

Hope so!!

Ellio, for today's rise, you can have a bite of the cone ;o)

TMC Bid: 340p Offer: 347p Change: 12.5
340K traded

I'm going to wait for the flake!!

LOL! Well, hopefully that comes tomorrow, when we witness what could be an assault on the recent highs (and the mkt cap goes convincingly over 100 mill and brings out some bigger buyers!).

Eyes down, look in, make mine a 99! :o)

Latest RNS states AXA own 13% and MAN FINANCIAL 3.16% both still in for the ride! Credit Suisse predicting nickel price to reach $65000 per ton in the near term!

Well spotted, Hali.


Toledo Mining Corp - Holding in Company

RNS Number:9889W
Toledo Mining Corporation PLC
21 May 2007


TOLEDO MINING COPORATION PLC
('Toledo' of the 'Company')

HOLDING IN COMPANY

The Company announces that on 18 May 2007, it was notified of the following
holdings:

As of 17 May 2007 Man Financial Ltd, of Sugar Quay, Lower Thames Street, London
EC3R 6DU, held a total of 914,200 ordinary shares in the Company, which
represents 3.16 per cent of the issued share capital of 28,898,333 ordinary
shares in the Company.

As of 17 May 2007, AXA S.A., of 25 Avenue Matignon, 75008 Paris and its Group
Companies, held a total of 3,755,850 ordinary shares in the Company, which
represents 13.00 per cent of the issued share capital of 28,898,333 ordinary
shares in the Company.

The identity of each registered holder of the shares to which this notice
relates, so far as is known to AXA Investment Managers UK Ltd, as at 17 May
2007, is as follows:


Name of the Company / Fund Number of Shares % of Issued Share Capital

AXA Framlington 325,000 1.12463
SEI UK Equity
(Indirect)
AXA Framlington 1,200,000 4.15249
Throgmorton Trust
Indirect
AXA Framlington 725,000 2.50880
UK Smaller Companies
Indirect
AXA Framlington 1,505,850 5.21085
RW Portfolio

Total Direct: 0 0.00000
Total Indirect: 3,755,850 12.99677
Total 3,755,850 12.99677


21 May 2007