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.

The question that remains unanswered is whether TMC is profitable now that it is generating cash from exporting laterite ore. Only the directors of Berong Mining Corporation know the answer to this question but in reality it is unlikely they continue to mine and ship if it is not generating a surplus. Perhaps a trading statement would be useful to investors.

Personally I would be more than happy to increase my shareholding at 150p.

I am waiting for when they directors next offer themselves options at as low a price as possible. This is why I believe they are not very enthusiastic in their RNS's. Why have an option at 5, when you can have it at 2 or less. Then I shall buy back two or three times my original holding.

that would be foolhardy

Halifax & Cynic,Two of you both at work here.

Someones getting paranoid.

sure am bleak, no doubt exacerbated by a stack of forced sales by CFD holders (like me, but i still have mine!) ....... sp had damn well better remember how to bounce or it will disappear down the plughole!

RNS says AXA has increased its shareholding to 12.14% .

wish it was >29.5% ...... or any other bugger for that matter!

|Halifax, if you check rns 21/05/07 you will find all 4 elements of the AXA group have reduced their respective holdings not increased. Holdings were 3.845 million at +14%.

Oily as you probably know well on 26/6/07 RNS reported that AXA notified their shareholding as 3,445,000 or 11.8%. Todays notification is 3,545,000.or 12.14%, and by the way this is an indirect shareholding and the increase of 100000 shares is in the "RW Portfolio".

Do you have a point to make?

Sorry halifax, genuinely missed that one when looking for last axa holdings rns. Should be another rns shortly to divulge the purchaser of the 1,055,000 shares just after the bell last night. This represents another 3% of the company being mopped up, or approx 20% of the free float availiable.

Followed by another 515,000 broker deal.

And up she goes. +26p

+12p now.

Yes because the spread opened downwards.

I wouldn't be surprised if there was a large seller in the background, as it would appear as though they are trying to enourage buying at the moment. IMO DYOR.

A development which may have some impact on TMC future plans :

http://newsinfo.inquirer.net/breakingnews/regions/view_article.php?article_id=83894

Puerto Princesa Hagedorn rejects mining projects

By Redempto Anda
Southern Luzon Bureau
Last updated 07:21pm (Mla time) 08/21/2007

PUERTO PRINCESA CITY, Philippines -- The ongoing nickel ore rush in southern Palawan may have attracted all sorts of mining investors big and small, dubious and legitimate.

But the roads leading to the reddish brown soil that Palawan's landscape is famous for just ended at the entrance to Puerto Princesa City, the province's capital and host to wide areas of high-grade nickel ore.

Mayor Edward S. Hagedorn on Tuesday said he will not approve any of the pending mining applications in the city -- at least during the remainder of his three-year term.

At the same time, he called for the filing of a resolution in the city council that will declare a 25-year moratorium on mining in Puerto Princesa.

"If the mining companies can show me a place with intact forest cover and where people have become wealthy and healthy after a massive mining operation, I might change my mind," Hagedorn told the Philippine Daily Inquirer, parent company of INQUIRER.net.

Hagedorn was reacting to questions on how the city government will respond to reported offers for assistance of major mining companies eyeing to put up nickel ore mining operations in Puerto Princesa.

"The ugly sight of the denuded forests of Sta. Lourdes and the mercury mine tailings that were dumped along Honda Bay only strengthen my resolve to oppose mining operations here in Puerto Princesa," he added.

Hagedorn explained that the recent conversion of Puerto Princesa into a highly urbanized city allowed them to be administratively independent of the provincial government and gave them the power to deny with finality all small-scale permit applications previously approved by the Provincial Mining and Regulatory Board (PMRB).

Small-scale mining permits are awarded by the PMRB. In Palawan, they are used by big mining companies to start up large-scale mining operations, ostensibly because they are easier to acquire than the large-scale mining permits given by the Department of
Environment and Natural Resources.

Hagedorn's announcement effectively turned down reported overtures from several major mining companies, including Atlas Consolidated Nickel Mining Corporation whose subsidiary, Berong Nickel Mining Corporation, is eyeing to set up operations near Ulugan Bay overlooking the St. Paul 's Subterranean River National Park.

Instead of jumping into the Palawan bandwagon where all municipalities embraced mining investors with open arms, Hagedorn said the city government has mapped out "a strategic plan to boost our tourism and agriculture sector."

"In line with our sustainable development vision, we can only promote two major industries -- tourism and agriculture. That is why we are allocating more funds to enhance our tourism program," Hagedorn said.

Copyright 2007 Southern Luzon Bureau. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Atlas Conslidated Mining a minority shareholder in the Berong nickel j/v with TMC has issued a quarterly report as at 30/6/07 showing sales of laterite ore of Pesos 168 million. They have also announced that a US$ 2.7million loan given by TMC has been converted into 12million shares in ACM which has raised a US$100million loan from Deutsche Bank to rehabilitate their copper mine near Toledo City ,Cebu Island. Perhaps it is time TMC gave shareholders an update as a lot seems to be going on.

back up to 500p.

bouncing today...:)