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 OFF THREAD BUT YOU OUGHT TO HAVE A LOOK AT TAIH. COULD BE REALLY BIG. PROFITS UP 61%, TURNOVER UP 70%, AND APPLYING TO TRADE IN THE EU.

BOUNCING BACK.

Got some more at 2.50

bet there were plenty to choose from too!

IF YOU GOT SOME MORE THEN YOUR NO LONGER FIRSTTIMETRADER. SORRY I COULDN'T RISIST IT LOL.

LOL Oily

Im long on this one

MM's wont get any of mine for under 5 a share

also averaged down this morning, i am long on these, not expecting to trade in and out, see where they are in couple years...

oilrag, if you are so bullish on this stock and arranging a party for when TMC hit's 20 pounds, why did you sell stock?

Well done you chaps that got in below 2.55

Expert, Because having held for so long and with large recent gains since Jan this year, I was watching my investment reduce in value after the MPSA announcement when it should then have started rising. With shorters starting to get involved and MM's taking every opportunity to slate the stock, I realised that the only person not making any money on this was me. So, I decide to consolidate my position by selling a few and to take advantage of increasing my holdings at the right price. With regard to my outlook for TMC, this hasn't changed other than to say that there will be a slight reduction in end values as the price of nickel reduces.

not a pretty sight! ...... sp looks to be heading down a further 20p to 216 where it meets 200 dma ..... if it doesn't bounce there, then perhaps Noah will have ajob after all!

pity about this one , the spread is so wide its untradeable at present

So, in that case buy it and hold for a while.

not in the present market

you do not have to buy per the quoted spread (currently 220/232) ..... phone your broker and get him to place the order at your chosen level ...... do not be surprised if it gets filled

200 is my price , think i will have to wait a day or two

interesting scenario .... just tried to buy 3000 @ 217 via by CFD broker .... unfortunately their clients already hold about 4% which is their limit so was not allowed to do.
if you can get in at 217, don't reckon you will be far wrong as the fundamentals certainly have not changed, and any fall in base nickel will only have a marginal and short-term effect on sp

Think I said 250 was on the cards on the TA thread in response to Fliper's request.

pth

Edit: Talking crap (again!) I did say 200p, to be exact - '200p is a distinct possibility'

I wonder if the fall on TMC and IVK is anything to do with Atlas as below ?


http://www.ft.com/cms/s/db9540e4-3eb1-11dc-bfcf-0000779fd2ac.html


Atlas considers London listing

By Roel Landingin in Manila

Published: July 30 2007 17:10 | Last updated: July 30 2007 17:10

Atlas Consolidated Mining and Development Corp, the Philippine mining company that owns what was once the worlds third largest copper mine, will next month meet institutional investors in Europe as it eyes a secondary listing in London in 2008.

The move comes as Manila tries to attract investors to restart scores of idle mines abandoned because of debt and disasters.

Alfredo Ramos, chairman and Atlass biggest shareholder, said plans to list in London would cap the companys efforts over the past 12 years to revive the Carmen copper mine in Cebu province, which ceased operations in 1994 after almost collapsing when a tailings dam caved in.

Mr Ramos bought Atlass debt in 2001 and converted that position into a majority shareholding. Last year, Crescent Asian Special Opportunities Portfolio, a private equity fund, invested $34m in an Atlas subsidiary rehabilitating the copper mine. In June, Deutsche Bank lent Atlas $100m for the effort, which is expected to be completed by next May and push 2008 profits up to 2bn-3bn pesos ($22m-$33m).

Atlas, which was losing money until 2004, expects profits to surge to 500m pesos this year when a nickel mining unit starts shipping ore to China.

Martin Buckingham, executive vice-president at Atlas, said money from the listing would help Atlas develop other copper ore bodies in Cebu, and ramp up production to as much as 150,000 tons a day from 20,000-40,000 tons initially. That brings us in the category of a medium-sized producer. Our objective would be to get into the top five or 10 producers in the region.

Last week, Gloria Macapagal Arroyo, Philippines president, stepped up efforts to offer as many as 65 idle mines to investors. Many of the mines were abandoned in the 1980s and 1990s.

On Friday, she said she had issued an order transferring supervision over the state-owned Philippine Mining Development Corp, which owns rights to many mines, to her office from the department of environment and natural resources. The move would allow the Office of the President to monitor and oversee the efficient and effective implementation of the countrys utilisation and development of its mineral resources.

MM's seem concerned about something have widened spread and now showing purchases as sales?