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.

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.

http://moneyam.uk-wire.com/cgi-bin/articles/200706200900046769Y.html

A bit of solid news to get the juices flowing !!!!

Up 3.5p at last. Time for me to go to bed, speak again later.

Finally the JORC has been posted. Now we should stay in possitive territory

Now its starting to fly at plus 11p.

Nerves of steel, up 21p now.

Sorry cant keep up, up 31p and flying.

and i was about to post that fall in sp was due to news being out of the way and therefore just consolidation and profit-taking ...... if it was, then very short-lived - lol!

Morning All. Oily, you're getting very excited, don't blow a fuse and miss out on the future benefits of this share. :).

I'm more into oil and gas so can relate to BOPD and MMSCFD. Can someone with more experience of mining terminology give a summary of what the latest resource update could do to the Company balance sheet, Net Asset Value and the SP.

Thanks in advance.

amateur interprets it as lots and barely below the surface!

You crack me up :), Thanks Mr C.

IVK still up 26p at over 8% on the day, therefore IMO TMC will rise again later after mm's have had their fun.
Darradev, yes am a little excitable, but then I always have been. I can assure you that I shall not be missing out on the future benefits. Within 4 years the earnings per share will be greater than current share price.

http://www.bloomberg.com/apps/news?pid=20601081&sid=avGltjFAwmik&refer=australia

Can somebody do the maths on this, basically saying they get 15% for each ton of ore for the spot price of $54000 @900,000 tons this year quadrupling to 3M next year, seems like huge amounts of cash this year ie $55M going up to $170 next plus celestial coming on tap at another $50M gives us forecast production rates at $200M plus.

Is this the gist of it?

Any calculation depends on the price of dry ore FOB Palawang. Only TMC can tell you what that is at present. Now that JORC report is out one would expect TMC to announce some supply contracts as previously indicated in earlier RNS releases.