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.

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.

sorry to hear the news oily ..... no fun at all

Thanks lads, speak again soon.

PRICE DROPPED TO ENCOURAGE SELLING. AT END OF DAY I BET SP FULLY RECOVERS AS IT HAS DONE SEVERAL TIMES IN THE PAST.

sorry oily

i know it puts people comments on all this into perspective..........none of us know whats around the corner

Oily we offer you our sincere condolences on your bereavement.

Thanks again one and all.

RAB holdings RNS after close, looks like they have sold off over 2%.

RAB has reduced its sharehoding from10.8% to 8.38% and now hold 2,445,000 shares maybe they needed to raise cash in these difficult markets.

Probably to pay for their speculative stake in NRK. TMC looks like its on the way back, now that they have a contract with BLT. Thats only for the cheap stuff though, still a year or two for the big money and proper MPSA still to be issued.

Oily do you think the recent appointment of CIBC might suggest a share placing/ issue on TSX to raise funds to build a processing plant? Results due end of next week.

chart below is self-explanatory ...... pretty encouraging assuming currentr level can be held