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.

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

Thanks, Cyril, will do due diligence :o)

TMC down 10p today; maybe my impulse to cut and run has stood me in good stead.

LME cash nickel US$50300 per ton stock 7200 tons

Note time now 09:28. I am guessing that at 9:55 approx an institutional buy of at least 25,000 shares maybe two of them, will appear on the trades page, recorded as 8:55 at about 346p shown as a sale. I'm not suggesting that this is becoming predictable, but it is.

At some stage they can't keep finding 25k blocks and this will burst up, still hopeful of 400p this week, here's wishing!

There you go, within 6 seconds of estimated time recorded an hour later than expected a purchase of 25,000 shares at 360p. I am surprised at how much they paid, but then even mm's want to make some money.

that's f*cking genius man..well done

insider?

f18

Insider, b*ll*cks, I work nights in logistics. I think I've been studying this too long and feel that I can read it like a book. Like I said before, If only I had more money I'd know where to invest it.

I think f18 is saying there might be some insider dealing here, correct f18?

Last two trades do not make sence. 5,000 shares each, sold at 10p below the spread as a protected trade, T type sale.

Unless, they are purchases made at the bottom this morning and mm's are now allowed to falsify deal times to cause even more confusion.

Oily (your post 406), with me it's the other way around - if only I knew where to invest, I'd have more money!! :o)

Ellio, I think F18 is asking if Oily has been in receipt of some insider knowledge, but no, as the man himself says, he has been watching this stock so long he can read the MM's minds.

ellio

no, not insider trading just acute observation!

f18

Exactly

RNS more options exercised!