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.

Well, I have forwarded it to the FSA under Market Abuse.

Either the article is fake, which is market abuse, or the company is withholding information, which is market abuse.

Either way, it should flush out some kind of confirmation its true, or denial, so hopefully that will help clear up the rumour into fact, or fantasy.

I do hope pp that you are not suggesting that I am responsible for starting the rumours. Fact, my first post of today was at 08:36. SP at this time was up 26p to 373p bid 374p offer. Fact, Fortitude 18 also posted before me at 07:55 with reference to the same on advfn. This encouraged me to make enquiries with my mate who confirmed what Forty 18 was on about. I assure you that all my posts are to my knowledge of the utmost integrity.

Here is a copy of post no 438 by Fortitude 18 timed at 07:55 just in case you missed it.

JUST BEEN ON THE OTHER THREAD AND IT SEEMS THE GMB HAVE AWARDED BNC ITS 25 YEAR MPSA WITH ITS SMP COMING TO AN END IN NOV 2007, FEASIBILITY REPORT COMPLETE.

AND ANOTHER THING, I'M HOLDING AND REMAINING A HOLDER FOR THE FORSEEABLE FUTURE.

FROM ADVFN

J UPDATE: Philippines Issues 10 Mining Exploration Permits



(Adds information)



MANILA (Dow Jones)--The Philippines has approved 10 mining exploration permits in a bid to boost mining investment in the country, a senior government official said Tuesday.

Mining companies which were given new exploration permits include Ivanhoe Mines Ltd. (IVN), Horacio Ramos, executive director of the Mines & Geosciences Bureau, told reporters.

Ivanhoe will be exploring for copper and gold in Bohol province in the central Philippines.

Ramos said the government has also extended a mining permit earlier given to Toledo Mining Corp.'s Berong nickel project in the central Philippines.

"Berong now has a 25-year mining permit," he said.

Toledo was earlier given only a one-year operating permit for Berong.

Aside from Ivanhoe, mining firms which were given mining exploration permits include Norte De Oro for copper and gold, East Coast Mineral Corp. for nickel, Colossal Mining Corp. for iron, Apex Mining Corp. for gold and iron and Hardrock Mineral Corp. for iron and nickel.

Most of the exploration permits issued involve potential mining areas in Mindanao in the southern Philippines, Ramos said.

He added that the government is reviewing an application made by Agusan Petroleum and Mining Corp. for a large-scale mining operation on Mindoro island through a financial and technical assistance agreement.

An FTAA allows foreign-controlled mining companies to undertake mining operations in the country.

The Mines & Geosciences Bureau may decide on the application in three months, Ramos said.

According to Ramos, Agusan is controlled by Ramon Ang, president of San Miguel Corp., Southeast Asia's largest food and beverage conglomerate by sales.

Last month, SMC disclosed that it planned to diversify operations to include infrastructure, energy and mining.



-By Rhea Sandique-Carlos, Dow Jones Newswires, 63-918-9014158; rhea.sandique-carlos@dowjones.com



(END) Dow Jones Newswires

June 05, 2007 04:00 ET (08:00 GMT)

Copyright (c) 2007 Dow Jones & Company, Inc.

Here we have a copy of the article. PP is a total idiot and liar, don't pay him any attention.

"05/06/2007 05:18 Philippines Issues 10 Metallic Mining Exploration Permits


MANILA (Dow Jones)--The Philippines has approved 10 mining exploration permits in a bid to boost mining investment in the country, a senior government official said Tuesday.

Mining companies which were given new exploration permits include Ivanhoe Mines Ltd. (IVN), Horacio Ramos, executive director of the Mines & Geosciences Bureau, told reporters.

Ramos said the government has also extended a mining permit earlier given to Toledo Mining Corp.'s Berong nickel project in the central Philippines.

"Berong now has a 25-year mining permit," he said.

Toledo was earlier given only a one-year operating permit for Berong.

-By Rhea Sandique-Carlos, Dow Jones Newswires, 63-918-9014158; rhea.sandique-carlos@dowjones.com

(END) Dow Jones Newswires

Thank you both firsttimetrader and expert, you have both confirmed exactly what I discussed this morning with my mate and you have both vindicated me in all of this.

that's a bit provocative! .... PP's an alright guy and certainly no idiot ..... so he missed a news item; big deal!

Well he has forwarded it to the FSA, he could of given it a few days to see what gives?

The FSA will simply ignore his complaint.

If we don't see an rns today i would expect one tomorrow morning, it will be interesting to see if investors will take up positions during the last hour with an rns iminent.

There is no link the article. The article may be incorrect. Why do they talk of "Toledo"........when in fact in the Philippines the company is BNC (Berong Nickel Corporation) which is part owned by Atlas, Toledo and Investika ????? Toldeo is foreign to any Filipino..........just struck me as strange, as no link, and also no confirmation from the company.

I hope its true, and everyone can share in the good news of an official RNS.

I would hate to see it spike up and then be shorted down.

So, hopefully the company will clarify soon if the report is true.

Oilyrag, no I am not suggesting you at all !!

Strikes me as very strange the a "news report" is in circulation on BB's before the trading day starts, is there all day.........and yet, not word from the company at all. They do need to clarify these things, and not let information come to market via news reports, as opposed to official RNS.

So, my contacting the FSA was to try to get this confirmed or not, sooner, rather than later. The news needs to be official in an RNS, its already late given this news report released at 5am so it says on the report (with no link) ?

To find out real position suggest you telephone Annie Richards at TMC London Office on 020 7514 1480

Good, its now confirmed as far as it goes below. See, it does perhaps work contacting the FSA to push things. This should have been released in the morning straight after the news report came out imv


Toledo Mining Corporation PLC
05 June 2007

TOLEDO MINING CORPORATION PLC

'Toledo' or the 'Company'

Extension of Mining Permit

The Directors of Toledo Mining Corporation wish to advise that on the 25th May
2007 the Company made a presentation to the Department of Environment and
Natural Resources of the Philippines (DENR).

Secretary Angelo T. Reyes of the DENR and Director Horacio C. Ramos of the Mines
and Geosciences Bureau (MGB) presided on Toledo's MPSA (Mineral Production
Sharing Agreement) application covering the 288 hectare Berong Project (MPSA
Application APSA-IVB-047).

The Directors believe this MPSA will now be processed shortly. This MPSA area
will also cover the current Direct Shipping Operations.

The presentation also covered the Company's other MPSA areas and the plans for
value added processing of the laterite ore. The Toledo Board of Directors have
full confidence these other MPSA areas will be processed before the end of 2007.

The Directors note the statement by the DENR today that it has approved an MPSA
for the Company's Berong nickel project and are looking forward to receiving the
supporting paperwork.

For further information contact:

Now we can all shake hands and start to think about how to spend all the money when it comes in. Sorry if I appeared to go off on one, but being the one who does most of the postings on this site it felt as though you were having a dig. No offence intend or taken on my part. Good luck to all.

The co. didn't release an RNS because they don't officially know yet, hence the wording in the RNS....

"The Directors note the statement by the DENR today that it has approved an MPSA for the Company's Berong nickel project and are looking forward to receiving the supporting paperwork."

... so, no need to have contacted the FSA !!!

However, they have to respond to media reports. A media report suggesting such major news cannot be ignored.

They have to make comment, which they now have. Although its all in the air, at least they have made reference to the media comment, and said they are now "waiting for the paperwork" to back up the comments from the DENR.

The market has moved on the media report, and therefore, the company has to clarify the report, to confirm or deny it, or as per here, acknowledge it and say they are waiting.

Agreed. No wrongdoing on the part of ADVFN posters reporting on the press reports. No wrongdoing on part of co. who, having been made aware of the reports and share price movement, have issued an RNS (presumably after doing some background checks themselves).

Only questionable thing is the way the authorities have chosen to disseminate the information regarding their decisions.

Yes, the actions of the DENR in talking to the press ahead of the companies is a little disturbing. Not the best way to disseminate information.

I just have been reading the posts that I have missed from my last post...

I can't see what all the fuss is about... (maybe I don't understand it!!!)

papalp. what make you cross??? did you missed them??

have a nice big smile evening... :-))

Now that the dust has settled its time to reflect on what we have. We have an MPSA agreement but not yet in writing. So therefore we don't yet have an MPSA that we can take to the bank. There is some worth being added to the company, long overdue in my mind, as limited risk is reduced. Hopefully the market will now wake up to this share, and with so few shares availiable I can see similar growth every day for the forseeable future. I would be very intrested to hear what other investors really think on this one.