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.

Halifax,

There is quite a variety of trades for which reporting can be delayed:

I cannot recall TMC's NMS (will tell you tomorrow) but for a straightforward O trade below 2000 the MMs can delay reporting by 120 minutes; if above 2000, by 60 minutes. For larger trades there is even more latitude. You will have to access the LSE website for further details.

You are wrong re MAM software: if for instance the spread at the time for a stock is 400p - 420p when the trade is reported and it had traded at 400p the software will report it as a sell. It may be that this particular trade took place 50 mins earlier (for instance when the spread was 380p - 400p), which in fact meant it was a Buy. The time stamp will give you a clue. The reporting system for trades is entirely to protect the MM, giving them a signficant advantage over the PI.

pth

pth, The point is that they can delay reporting, they don't have to. They always do, ask yourself why, to try to confuse the PI's.

oily

They can delay reporting, ostensibly to protect themselves, the point is that it is allowable under LSE rules for certain sized trades. Wouldn't you do the same if in their position, or would you happily lose money? They are there to make a market and therefore money, not lose it. Don't tell me you wouldn't do the same thing. It happens, accept it.

pth

Oh I accept it all right, I don't have a choice. If you don't think TMC's price hasn't been manipulated since MPSA and JORC compliance reports were released, how much do you think the SP should be right now.

Oily

If the market thought that the SP should be higher it would be. Why would the MMs not want the SP to rise, if there is buying interest and volume they make money. If they don't have stock, they push the bid up until sellers are tempted, everyone has their price afterall. You seem to have difficulty in accepting that the SP has settled where it has and rather blame the MMs for that fact rather than accepting that the valuation is currently a fair one. So to answer your question, market forces dictate that the SP is right where it should be.

pth

Sorry pth, I disagree, as in your own summition just now you state, correctly, that buying intrest and volume make money. When the spread is closed then there is plenty of that going on in this stock. Because they have opened the spread, they are successfully putting buyers off, so therefore are directly affecting the growth in SP, by stiffling trade. The question remains that if there is plenty of potential in the growth in SP of TMC, then why aren't these opportunities being exploited to make an absolute fortune for the MM's, and ourselves. I think that you will find the answer to be pretty much the case that I have been stating all along.

24,000 shares sold and no movement in SP tells me that they want shares today, as they have an order to fill. What does anyone else think.

I think that the MMs opened at 420-430 prior to 0800; 24,000 shares were sold and the MM on the Offer (think it was SCAP) dropped the offer as a result of the sells. Can't see any manipulation there. As a result of the intial sells and the understandable drop in the Bid / Offer, other PIs have decided to sell prompting a further fall. Pretty straightforward really.

pth

Agreed, but previously they have moved the price 10p on sales of a 2,000 shares. They have opened spread slightly to 13p.

What is confusing me is why you would pay 4p per share for an ailing flooded copper mine with no real future, when the average price at that time was 2p. Now that that investment, luckily for you has some real value added to it, you can't see it.

When you say 'they', I wonder what you mean. MMs operate in competition. Currently EVO & TEAM are on the bid at 405p, SCAP back on the Offer at 418p, which merely reflects the SP at which the MMs are willing to deal. The spread is a direct result of the SPs at which individual MMs have set their trading strategy.

pth

pth, You are still avoiding the questions. Never mind what you think the market feels that the share is worth. The question was, what do you think its worth? or is that too difficult for you to answer. How much do you forsee the price moving in say 2 years time. See unlike you I am prepared to make a forecast based on what I consider to be fair value. You however just come up with, the market will decide, and thats it. You are obviously very intelligent so please enlighten us as to your thoughts on true value for this epic.

Oily

4p was a guess at the time of posting, to be accurate it was 2.6p. Not sure what you mean by 'I can't see it'.

As to fair value, I'm not avoiding the question, quite simply I don't have an answer. No doubt like yourself I have spent many an hour crunching numbers of various stocks only to find that the market doesn't agree with my analysis. TMC is even more difficult because of the potential development plans. So actually, it is too difficult for me to calculate, I can't be more honest than that.

I'm just going to sit back and wait and see.

pth

We should obtain a clear picture when TMC issue their next quarterly progress report which is due around mid July.

How far will this drift before the next update?

Anything??

JUST PLAYING WITH THE SPREAD!

Today's RNS issued by IVK states that they have received repayment of working capital advances from Berong Mining amounting to A$2.46m. during the past quarter.

can anyone read charts? have had a look at the 25 and 200dma and this co looks like it is below the 25 dma and therefore cheap but i believe may just be a bad generalisation on my part. am looking to top in these but trying to get my timing right. any hints on what to look for in the charts.
Alex

the basis of your logic is incorrect ..... however, sp is now touching on 50 dma which should provide some support and perhaps give cause for a rally ..... rsi is also now undemanding