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.

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.

Isn't it absolutely amazing that every time the mm's force the price down, a large institutional buy of 25,000 or 30,000 shares miraculously goes through. These buyers must be worth their weight in gold knowing just where the sp is going to bottom out every time. Brilliant eh.

130,000 shares to institutions so far today, what a con.

Wow, look its recovering again. As soon as their order is filled then the price will go marching on. Unless these idiots keep selling.

Intraday chart looks like a cross section of the Grand Canyon.

Oily, I know it looks drastic, but after a 20% rise in a week, it's not surprising. Today's volume is chunky by recent standards (180K so far).

You're right about the number of large buys - plenty of decent ones around the 25K mark, although one or two have been misreported and were actually sales.

As for "knowing just where the sp is going to bottom out every time", I think it's more likely the case that if you're an institituional player, being friendly with your broker can get you a better price every time. Why pay more when you can fix a price at the bottom of spread and engineer a sudden tree-shake, which is then smoothed out by the late reporting?

That's enough conspiracy theories for one day. Latte machiato, anyone?

Maybe I'm too nervous, especially since I'm only in this for a T+25, but in view of the fact that the nickel price is falling (now only just over $46k), I've decided to halve my holdings in order to provide a measure of protection for my profits.

Don't panic Captain Mainwaring TMC can still make profits if the price of nickel goes to $25000 per ton .LME stocks reported today as 7466 tons only.

I realise that (in fact, I think TMC's original feasibility work used a figure of $10K/t), but if there is a short-term shock on the overall nickel market, it will slow things up for everyone. In the end I decided to sell all my holding and clear out my entire profit from TMC, given that I can't hold it for ever anyway as I bought on my credit line.

Pastures new, etc. A clear 17% profit in less than two weeks isn't too bad, and it's better than what often happens, which is that I see a decent profit, get greedy, hang on too long and miss the peak and wind up taking home only half of what I could have had.

If TMC moves sharply higher on newsflow I shall doubtless be back. Meanwhile, I shall have to see if there are any other short-term bargains out there.

Good luck to all!

I,m holding out for 5 when I hope to top slice for my original stake and carry the rest as a free trade.

soul traders, try checking out HMB. Soon to start producing Gold and was
reported to be seriously undervalued, putting a target of 40p+
cyril