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 have bought at 439 and 442 today

Really weird at the moment, can buy 10,000 on line but can only sell 1,000. MM's don't want the shares right now.

shake

I switched some into chl

I moved some into CHL and BRR. TMC is still agreat long term play but its getting a bit stale now. Plenty of time to switch around in to other fresh/unknown resource stocks.

Toledo website has been updated, with new pictures and info.

Berong, Longpoint and Moorson 275 million tonnes at 1.41% nickel and 0.07% cobalt.
Ipilan 77 million tonnes at 1.25% nickel and 0.1% cobalt.
Ulugan 25 million tonnes at 1.25% nickel. Not yet confirmed or defined.

Total of 377 million tonnes nickel ore.

NEW PRODUTION TARGETS OF 12 MILLION TONNES PER ANNUM BY 2009.

Oilyrag

you can add this your headline.... so everyone can see the work..

http://www.abareconomics.com/interactive/ac_mar07/pdf/metals_nickel.pdf

quote
Gordon Brown is set to pave the way this week for a crucial new tax break for big British companies operating overseas subsidiaries. He is expected to seize the chance of his last Mansion House speech as Chancellor to lay the ground for an early end to controversial tax rules that force multinational companies to pay a top-up levy on profits returned to Britain from their foreign operations, writes the Times.

will that effect TM C???

All red so far and price hasn't dropped. This is making MM's very happy as they don't have to try forcing the price today, as they are getting just what they want.

Bought at 412p just now MM up to usual deception showed it as a sale.

Totally unjustified slating, -10p on just 7,000 shares traded. The 90,000 shares purchased yesterday, shown as a sale wasn't even recorded late and the price didn't even flinch. This is a dead cert and there is no way on gods earth that I'm moving out yet.

You need nerves of steel to hold on, oilyrag. Down 23p now. 387p to sell.

Minus 24p, dosn't scare me, keep putting it down I would like to quadruple my holdings but its got to go down to a couple of quid for that. I'm keeping my fingers crossed but then I don't believe that mm's would risk being put out of business. Total sham and should be investigated by FSA. HaHa what a waste of time they are.

It is recovering now. Just hold on tight, oily.

Now only a 6,000 trading deficit on the day and sp shot up 6p to -18p on the day, so far. If buyers kept the pressure on mm's by keep buying this will fly up over 5 easily. SP movements are becoming more severe.

Thankfully, I have about 15 years to retirement. I think its very unlikely that no-one would try to buy TMC out, or that all the institutions would be happy to recieve no dividend for their investment during that time. That is why I know that this is my retirement fund and I will recieve my just rewards in due course. Prehaps I should stop over analysing it.

We are now in positive territary plus 1,500 shares traded and still -16.5p.

Almost back to normallity only, -6.5p now. In 1 hour the price fell 24p and rose 18p. Where to next?

Gained another 5p whilst typing last post.

TMC and IVK intraday charts are a complete mirror image of each other, although their drop was only 6p.