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.

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

Cynic,

Am i looking for a rsi of 70+ as a reasonable guide to buying?
I keep reading books but noone puts in it laymans' terms

Alex

rsi is a moving average, but i am not entirely sure how it is calculated or relative to exactly what! .... howver, the principle is that when the line is above the red, it is technically o'bought, and below the green o'sold ..... it's just an indicator of share strength rather than a true signal of whether or not to buy.

more important, to chart followers at least, are the daily moving averages (dma), the 50 and 200 being generally more important than 25 ..... on the way, up they often create a resistance, and conversely, on the way down, a support.

trading volume and impetus (surely no explanation required) are the other useful.

TMC price has probably drifted through lack of further news rather than anything fundamental, so short term holders have taken their money out.

PTH who posts regularly is a much more sophisticated chart creator and reader than I!

Cynic,
thanks for your insight. greatly valued as i learn different ways to try and pick shares. must be better than the pin in a page.
Alex

Robert, DO NOT buy or sell a stock beacuse the RSI is in oversold or overbought territory, it can remain in both for a considerable period of time whilst either continuing to gain or lose value.

Basicaly the Relative Strength Index is a measurement of the average of x days up closes and x days down closes and produces the Relative Strenght of a stock.

What you should be looking for are swing failures and divergences between the RSI and SP. Rather than I trying to explain, Google RSI and you will find some excellent explanations.

pth

whats the verdict here? now fallen through both 25 and 50 day averages, thought the recent news would have provided good support...