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'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

Here's some more opinion on the metals market, from TRAD this morning:

Copper lost 8 pct of its value last week on fears that surging Chinese imports in the year to date have run ahead of demand and led to a stock oversupply in Shanghai.

Weekly data out last Friday showed Shanghai stocks rose to their highest since early 2004. However, traders have taken the view today that the increase in Shanghai stocks is offset by stock falls elsewhere, like on the LME.

They have also taken the view that 'global demand will remain robust, supporting the demand for copper and other base metals,' said Dresdner Kleinwort analyst Peter Fertig.

This view was reinforced Friday, when the University of Michigan released stronger-than-expected consumer sentiment numbers, which helped copper recover from losses sparked by the Chinese rate hike news.

In its weekly commodities report released earlier, Goldman Sachs said the recent sell-off has brought base metals prices closer to fair value and that a better demand outlook suggests fundamentals are improving.

Elsewhere, nickel was down at 50,150 usd a tonne against 50,400 usd amid a sharp rise in LME inventories. The LME said in a daily report earlier nickel stocks held in its warehouses rose 162 tonne to total 4,986 tonnes.

JP Morgan analyst Michael Jansen said he believes nickel has limited scope for further weakness as the premium for the cash metal over the 3-month price has widened further, implying the market is still tight.

Still moving: TMC Bid: 348p Offer: 354p Change: 7.5

I'm not in but a lot of tmc holders are buying ivk--have you checked it out soul? can go into an isa as well. I've no spare at the mo!!

Thanks, MP. I understand that IVK holds a fair-sized chunk of TMC, but certainly its recent SP rise is impressive.

I am also a bit short of spare cash. Hope all of your picks are doing well for you.

ST

The good things in life come to those that wait: TMC Bid: 358p Offer: 365p Change: 10

Only 48K traded, so it's early days, but a couple of buys have gone through at 365, equalling the all-time high of 4th May.

And the sprad just narrowed: TMC Bid: 360p Offer: 365p Change: 11

Bargain season?

ST, whats a sprad, ha ha.

Oily, it's a sprat with a cold in its nose (or a code id it bose!).

Just like me, in fact. Health tip: Stay away from Bournemouth; there's this plague of awful colds doing the rounds.

very nice today!

Thank you, MP. You don't look so bad yourself ;o)

As does the SP not (look bad, that is!): TMC Bid: 367p Offer: 373p Change: 18.5

It is gratifying to see bigger trades filtering through today - plenty of purchases of 10K, 25K, etc, and with 296K total volume traded already today, on top of the breaching of the 365p high, it suggests that this one has the will to go a bit higher yet. One hopes, anyway!

PDYOR, etc.

Held on to most of its gains today: TMC Bid: 363p Offer: 368p Change: 14 450K traded.

Still plenty of larger purchases at day's end, too.

Something big is going on with all those 25k trades and a chrt breakout today 400p is not far away.

A bit of P/T so far today: TMC Bid: 358p Offer: 365p Change: -4, 33K traded

http://business.inquirer.net/money/topstories/view_article.php?article_id=67634
Investment incentives given to BNC.
cyril

I wish I had some more money to take advantage of this silly undeserved markdown. Thankfully, I am under no pressure to get out, and am looking long term, 4 years or so. I have invested heavily in TMC and have so far seen an almost 3 fold increase in the value of my holding. There is a long way to go, but this is my retirement pot.

Well done, Oily! Today's drop is probably just a tree-shake, and/or profit-taking. I notice we're off the day's lows, which is good.