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.

+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...:)

any news coming, otherwise this will drop back.

Onwards and upwards...

Bad news is in the price. No news is good news.

well how about some good news then....?!



RNS Number:2259D
Toledo Mining Corporation PLC
04 September 2007


TOLEDO MINING CORPORATION PLC


Long Term Laterite Ore Supply Agreement Signed with Queensland Nickel

The Directors of Toledo Mining Corporation plc ('Toledo Mining Corporation' or
the 'Company') (AIM:TMC) are pleased to announce the signing of a long term
laterite ore supply agreement with Queensland Nickel Pty Ltd ('QNPL'), a BHP
Billiton group company (the 'QNPL Supply Agreement'). The laterite ore will
initially be shipped from the Company's operations at Berong to QNPL's Yabulu
Refinery in North Queensland, Australia.

The QNPL Supply Agreement is for a 5 year term with an option to extend for a
further 5 years at the election of QNPL. The minimum contract volume is for the
supply of 500,000 wet metric tons per calendar year at a nickel grade of greater
than 1.5% Ni. Individual ore shipments will be made to a maximum of
approximately 70,000 wet metric tons, depending upon the size of the ship. The
first shipment under the QNPL Supply Agreement is scheduled for delivery from
Berong in late September 2007.

The QNPL Supply Agreement will provide a base load for Toledo Mining
Corporation's mining operations on Palawan. Negotiations are continuing between
the Company and several Chinese end-user customers for additional long term
contracts of similar volumes.

Notwithstanding the recent falls in London Metal Exchange ('LME') nickel prices
and excess laterite ore stocks in China, the Directors believe the market for
higher grade laterite ore, similar to that shipped from Berong, remains robust.
The average grade of ore shipped from Berong has been greater than 1.5% Ni.

The mining operations at Berong are running at an annualised rate of greater
than 1 million wet metric tons per year. Operations continue to ramp up to a
target production rate of 1.5 million wet metric tons for 2008. With the onset
of the wet season and typhoon activity, forecast production for 2007 is
estimated at over 850,000 wet metric tons, with shipments at approximately
700,000 wet metric tons. Shipments are heavily dependent upon weather conditions
and the availability of vessels.

Mr George Bujtor, CEO of Toledo Mining Corporation, commented, 'The building of
long-term supply relationships with end use customers helps insulate the Company
from volatility in the market place, and provides a valuable adjunct to the
Company's long term goal of value added processing'.


George Bujtor, Chief Executive Officer of Toledo Mining Corporation, is a member
of the Australasian Institute of Mining and Metallurgy and is the qualified
person that has reviewed and approved the technical information contained in
this announcement

good to see the corpse bouncing around a bit ... lol!

Cant understand why we have not heard from OILYRAG after today's excellent RNS. Still looking forward to the Monaco trip?

not this year that's for sure!

Well I would prefer to go in the summer. TMC results due this month may show Berong Nickel Corp. profits either as a subsidiary or an associate company although part of TMC's controlling interest is indirectly held. IVK has already included net profits made by Berong Nickel in their recent interim statement.

Buys are labeled as sell.

The MM's have been doing this all the time. Makes you wonder what their game is perhaps somebody has a long term buying strategy?

Recent RNS suggests TMC will supplement shipments of laterite ore from Berong by mining higher grade deposits at Ipilang as they are expected to ship a minimum of 500000 tons pa to BLT. Look forward to forthcoming results statement shortly.

Hi halifax and all the boys, I have just seen the RNS this morning. I havn't passed any comment for the reason that, the last week or so, I have been on an extended bedside vigil at St Marys hospital, where my father passed away on the 4th Sept. Since then I have been consoling my mother and trying to sort out her finances. As you can imagine, I'm feeling a bit numb at the moment, so am just watching for the time being. Yes it was good news and is only the start.

Condolences to you oily.