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Typo's
...and then we have someone taking 5.72% of the shares, nothing to see here ;-)
"Wonderful! Wonderful! "
Maybe not the "Twelfth of Never" afterall?
But then, "It's Not for Me to Say"
...and the we have taking 5.72% of the holding, nothing to see here ;-)
:Wonderful! Wonderful! "
Maybe not the 'Twelfth of Never' afterall?
But then, "It's Not for Me to Say"
@Crownos
Alternatively, TOM could be the best of a very bad bunch! Only today HZM has announced it can't secure funding and they have links with GLEN so it's hardly surprising TOM is having problems. At the same time, if the numbers add up, it's a shame funding is not forthcoming. I note your comment about any multibag being somewhat limited by the terms of any deal - that is certainly a worry. GLA!
Jonny Mathias
223,162,222 shares
5.72%
Previously held zero.
Another new big shareholder, hmmmmm...
@Bear
If Tomco is a share you feel more positive about than all your other shares, then you must have some serious faith in them. I wish I had your optimism, but for me personally this investment has already been written off as a dud. I can only hope for a miracle to revive this share. Its 10x down my average right now, so even if funding was agreed depending on how the funding is structured, then I'm still only expecting to break even or maybe 2 bag my investment at a maximum push.
Given Tomco seems to be prioritising the option of selling off of most of Greenfield to aquire the funding, then I think I'd be lucky to even break even on that kind of deal, as I personally doubt we would retain more than 10% of the stake in a sell off of Greenfield for the required funding, which would significantly affect how much we would mutibag compared to if we secured 100% funding ourselves which I think given their struggle over the 2 years or more is highly unlikely. But as i say, I can only hope for a miracle lol.
You don't know someone bought 23.5m shares!
As I understand it the SP plunged 23.53% after the sale of 23.5m which was late-reported but WTFDIK?
Funnily enough, I'm feeling more positive about TOM than the rest of my holdings put together!
Someone bought 23.5m shares. Small beans for some, but certainly hoovered up a load of stock that was sold today (17,363,107 shares, but 4,167,181 also bought) plus circa 10.3m more.
12-Apr-24
15:10:00
Price 0.04
Volume 23,500,000
Value £9,400
It's too early to be coming to conclusions on what will happen to Tomco, and as per the last Tomco RNS just 2 weeks ago "As I write, we believe we are edging closer to securing the requisite funding after many months of effort and patient negotiation.", edging closer does not mean imminent.
And on why it's taken so long they said "Funding for ambitious projects like ours has frustratingly seldom been harder to come by. Interest rates have been higher than at any time in the last 15 years and UK equity markets, particularly for junior natural resource focused companies, have been particularly challenging."
And as I posted over on the QED board:
Some bits from the recent IMC meeting just two weeks ago. I note the words 'expecting' and 'months'.
A27 "We will have income from Valkor due once project financing of US$15m has been finalised. This is not in the control of Quadrise, but we are in regular contact with Valkor and are expecting that they will finalise this during the coming months."
A43 "The Greenfield project with Tomco is one of the potential Valkor projects looking to raise $15m project finance."
Question 48: "Have the goalposts moved on payments from Utah. Are drilled samples now required to be received and tested before payment is released?"
A48: "No, the goalposts have not moved for Utah, as soon as one of the Valkor heavy oil projects (oil sands or sub-surface) raises $15m project finance we will be due the $1m site license payment and then $0.5m once the MSAR® equipment is delivered to site plus $75k per quarter for technology transfer. The drilling programme is however important as it will provide oil samples for testing and marketing, and then a flow of oil for end-user trials."
For £350. Increased my holding by 33.8% in anticipation of riches elsewhere to cover this vanity investment. I can't understand why they're finding it so hard to attract finance especially as the sand is allegedly more valuable than the oil.
Silence until the next mega-dilution to keep the lights on at 0.02.
You'd think their time is all but up
This has become so ridiculous.
TOM has always been on the cusp! It's a bit late to think about selling! I recently increased my holding in the hope that the necessary finance will be found yet TOM remains my smallest holding and 2.7% of my PF. They appear to be sitting on a goldmine but this is AIM. Only positive is that someone seems determined to keep the lights on in hope of a finance deal. Through my investment in TOM I own almost 12 acres in Utah and I'd hate to lose it. GLA!
Like Beardozer says, 1 of two things will happen. This is a given.
1. We land that elusive finance, we build, we harvest, we grown and we multibag.
2. We don't land it, we raise more finance, then some more finance, we place, we place some more. We go down the pan.
What is actually due to happen here? I made the mistake of investing at 10 times the current share price. I assumed I'd basically set fire to the money at this point.
It seems the share is still doing the same thing as several years ago when I first invested i.e. on the cusp of starting to do anything
Shocking if TOM goes down the pan but not unreasonable if TOM is a multi-bagger - place your bets!
I must say, I am shocked to see John Potter's total remuneration is £253,000.
Additional £0.5m in Q2 2024
The forecast, which includes all commitments at the date of this report and reflects receipt of the net proceeds of the £0.3m equity fundraising announced on 21 February, indicates that the Group will need to secure approximately an additional £0.5m in Q2 2024 to meet its currently envisaged working capital requirements for the twelve months to 30 April 2025,
The year end 2023 results have just been published.
https://www.londonstockexchange.com/news-article/TOM/results-for-the-year-ended-30-september-2023/16401010
The aim is not to make it work but close it down.
I increased my holding this week by 51%. Only cost me £475! A fraction of my original investment . And now I own 1/1300th of the company which equates to 11.9 acres in Utah! I shall be visiting them in due course.
Fingers crossed that "As I write, we believe we are edging closer to securing the requisite funding after many months of effort and patient negotiation." means they can get the funding signed off within the next 11 weeks and three days that the cash should last.
If I won Euromillions I'd go lay on a beach and leave this to either succeed or fail. I certainly wouldn't waste my life trying to make this company work when I already have a life changing amount of cash in the bank.
If I could win the euro millions I would take this one over and clear out the unproven staff
"As I write, we believe we are edging closer to securing the requisite funding after many months of effort and patient negotiation."