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.

There you go halifax, does the trading position in post 717 almost confirm my guess. Large 130,000 sale gone through, how many more?

but still 15p spread showing ...... 130k is not that large = only about 300k

Does anyone know if it is possible for the market to set up a spread within a spread to give a totally confusing picture of trading. If there were 700,000 genuine sales against 80,000 genuine purchases on this stock, there is no way that the SP would be up 22p. If however the larger sales were purchases made just below the mid point of a false spread, this would explain a rise in sp.

Price just fallen 5p, could suggest first scenario taking shape.

hope that made sense to someone!
surely, old friend, spreads are really no more than an indicator and deals can and often are done well inside that or very occasionally, as with the sale of a large slab of POG, at a good premium to same

Missed the chance this morning, spread 205/206 at 08:45 approx. Price shot down to this level and then returned almost as quickly. Last time this happened 2 hours later a large inst buy was recorded.

ah well, we could all say that, like i reckoned Wall Strett was prob a short before the opening yesterday, but did nothing about it until near the close and then took the profit prematurely this morning ...... isn't hindsight such a valuable commodity!

Richard, what I am saying is that that was probably the bottom, when they retuned the spread to 1p to encourage normal trading.

prob m8, or at least i hope so ..... very interesting to see spread now reduced to a half-way respectable 7p (228/235) ...... thouigh i am having a surprisingly solid (not quite the same as good!) day, am not inclined to attempt the falling knife trick just yet

Moving up?

Down to 213p today. Very unnerving as this was 480p just 2 months ago

Good time to top up

It may move down to 150p

Why? Have any of the fundamentals changed?

No need for the funamentals to change for it to go down, if only it was that simple.

The reason for any share to rise or fall is based on news flow and general market conditions. If you wish to short this stock please say so.

wots gone wrong with this then?

The price of nickel has been falling as global shortages ease.

not to THAT extent! ...... fall is prob more to general market malaise, lack of any news, forced margin sales and investor boredom ..... underlying price of nickel may have dipped, but most unlikely to be in for any dramatic or extended decline as China, India and Pakistan booming economies continue to gobble up a wide range of hard commods

The price of nickel peaked in May 2007 at around $55000 per ton today it is $27250 per ton QED. Source LME.