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.

very thin market; illiquid stock

Sleeping beauty.

sleeping for sure, but pretty ugly at the moment

Interim results due soon. AXA increases shareholding.

and nickel prices still (sort of) depressed ...... however, this may change over the coming months as stainless steel demand looks likely to increase

Merry xmas and happy new year everyone.

This baby is left behind---- Other miners has been rising for sometimes.. XTA risen 4% yesterday and 2% today...

The reason, no news.

I remember DGO was so quiet about two years ago.

i fear that no news is not good news ..... have actually dumped 50% albeit at a pretty hefty loss - my own fault for being greedy and not taking a good profit several months back when it was on offer

http://www.rusmet.com/news.php?id=12624
Maybe worth keeping on your watchlist,hopefully will recover later in the year?
cyril

1 here we come, or less maybe.

Oily when are we having dinner in Monte Carlo?

Looks like never, unless the Phillipine government can get their fingers out and sign some paperwork, TMC management stop making promises they cant keep and it stops raining. LOL. How long has the current Government got left in office as they have elections every five years and if theres a change in gov. then its brown envelope time again from square one. Glad I'm not holding at the mo, but always keep an eye on developments.

although i took a thumping loss because i got greedy and never cashed in the even larger profit several months ago, at least i bit the bullet when sp was about 1 higher

Also deliberated two weeks ago and sold out @ 265, should have used a stop on SCHE, but been without internet recently and TDW wont let you leave a stop on for longer than a day unless the trade has settled....

i'm cheesed about SCHE too ..... will see if i can find out anything interesting through other sources

Looks possibly like stocks of Nickel on the decline which should lend support to Nickel prices and perhaps make them firmer, probably a good price to pick up TMC around 165p although i'm not in the mood for adding anything at the moment...

The pressure is mounting, and Goria needs to shore up support, and this likely means her pro-mining stance will become less evident. I assume some people are already thinking the "fast track" was turning "slow track" and now perhaps "no track".

She cannot afford to be in conflict with the church now, or appear to be pro-mining at the expense of the local communities.


http://www.bangkokpost.com/News/20Feb2008_news13.php

Wednesday February 20, 2008 EDITORIAL

Arroyo must tread carefully

The government of Philippine President Gloria Arroyo is under fire from many segments of the society after being rocked by fresh charges of corruption and human rights abuse.

At this time it doesn't appear that public disapproval will swell to the levels that washed away her predecessor Joseph Estrada, who relinquished power following months of protest over his plundering of the economy for his own benefit. But President Arroyo must move quickly to clear the air if she hopes to maintain credibility and effectiveness until the end of her term in 2010. The new corruption charges don't directly implicate President Arroyo, but they come uncomfortably close, and not for the first time. The president's husband, Jose Miguel Arroyo, along with former elections chairman Benjamin Abalos Sr, are accused of demanding a $130 million kickback in negotiations for a $330 million government broadband contract with the Chinese telecommunications firm ZTE Corp. The contract was cancelled in September last year after growing criticism that it was hugely overpriced.

The allegations were revealed to the public in startling fashion on nationwide television during a Senate investigation into the deal by government consultant Rodolfo Lozada.

Mr Lozada has also alleged that the president's own security forces tried to keep him from testifying by kidnapping him and holding him for 24 hours.

Last Friday about 10,000 protesters joined an opposition rally in Manila demanding President Arroyo's resignation, and on Sunday a Mass led by Roman Catholic groups was performed in a show of support for Mr Lozada. After the Mass, which was attended by around 3,000 people, a group of former officials which included ex-president Corazon Aquino and former Philippine ambassador to the United States Albert del Rosario, called on President Arroyo to resign and called on current officials who ''can no longer endure this wrongful governance'' to quit the administration. The former president urged Filipinos to ''unite once again and to rally behind people who reveal the truth and fight corruption''.Members of the clergy have made clear that they were not joining in the calls for President Arroyo's resignation, but have said they were trying to protect Mr Lozada from ''harassment''. Segments of the Catholic clergy were, of course, heavily involved in the protests which led to the ouster of former presidents Estrada and Ferdinand Marcos.

Adding to President Arroyo's troubles is a report released this week by the Commission on Human Rights, which found that soldiers looking for members of the militant separatist group Abu Sayyaf in Sulu province, had killed seven innocent villagers, including two children and a pregnant woman. Human rights activists say there have been over 800 extra-judicial killings in the Philippines since President Arroyo took over in 2001.

The demonstrations have, till now, been relatively small but the mood of the general public can perhaps be gauged by the amount of scepticism which greeted the reports last week of an uncovered plot to assassinate the president.

In many respects the situation in the Philippines today is reminiscent of the situation in Thailand a little less than two years ago, when former prime minister Thaksin Shinawatra was dogged by allegations of corruption in his cabinet over the procurement of CTX baggage scanners for the new airport, and the tax-free sale of his telecommunications empire to Singaporean interests, as well as human rights abuses centring on the ''war on drugs''.

Mr Thaksin chose to dissolve Parliament to avoid scrutiny. President Arroyo does not have that luxury. Besides, if Mr Thaksin's experience is any example, and if the well-being of her country is taken into consideration, the best approach for President Arroyo would be to cooperate with the Senate inquiries, admit wrong where warranted and then put the matter behind her and move on.

http://www.bangkokpost.co.th/topstories/topstories.php?id=126117

Monday 25th Feb 2008

Arroyo fears uprising

Manila - "We all know I am not perfect," said the Philippines president on Sunday, but another people's power rebellion will make the country the butt of world disrespect.

Embattled by calls for her resignation over corruption allegations, President Gloria Macapagal Arroyo warned Filipinos against supporting a mass uprising to oust her before her term ends in 2010.

The Philippines has removed two presidents in past "people power" revolts: late dictator Ferdinand Marcos in February 1986, and former president Joseph Estrada in January 2001.

On the eve of anti-government protests planned to mark the 22nd anniversary of the 1986 revolt, Arroyo warned Filipinos that the world "will not forgive" a similar uprising this year.

"The world would instead condemn the Philippines as a country whose political system is hopelessly unstable," she said. "Under these circumstances, who would invest in the Philippines?"

The military and police have increased security ahead of Monday's demonstrations. Authorities also warned soldiers and policemen against joining the anti-government protests.

"Members of the military that join the protests will be arrested," armed forces chief of staff General Hermogenes Esperon said, echoing an earlier warning to policemen. "That is against the military law and beyond the duty of a soldier."

Critics have called for a third people power revolt to remove Arroyo, who has rejected calls for her resignation and vowed to finish her term until 2010.

The resignation calls intensified after witnesses alleged that Arroyo's husband and a key ally were involved in the overpricing of a $329 million government contract with a Chinese company.

The scandal worsened when one of the witnesses accused government security forces of kidnapping him to prevent him from exposing what he knew.

Amid the attacks, Arroyo defended her record and vowed to address the scandal.

"We all know I am not perfect," she said. "But I have worked hard everyday to achieve positive and lasting change for the nation.

"I am assuring the people that if there will be individuals proven to be guilty, they will be punished. I am resolved to fight anomalies. People are angry at corruption. I am too."

The controversial deal has been scrapped, but the opposition-dominated Senate is still investigating the allegations, including revelations that illegal kickbacks from the contract reached at least $130 million. (dpa)