Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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I hope TOM rises from the ashes as I've become very attached to my acres in Utah. As must every other shareholder. This is a real company with real assets - don't let the snakecharmers fool you otherwise!
Permanent downside imminent while upside might just minor-bag. No wonder TOM's a dead duck! GLA!
Vauch, they don't owe £1m and the agreed deal is that Tomco repay the balance left when they achieve their major funding. There is nothing more to it then that
A group of us talked to John after the meeting and it was asked why had they not taken the plant that had been modified to run 500 a day and use it to get funds flowing. but it looks like they cant see below 5k a day.
I also chat to Steve and he is not happy at Tomco not paying the 1 mill they owe.
I had asked if Tomco are playing for time so the deal of 29% Tomco would expire before the finance is completed.
Well it is due to expire this year.
It would need a majority of shareholders to make a difference Vauch. Tomco has a cosmically small count of holders and many have been here for enough time to raise children. They're unengaged, and at any AGM in the past have been unorganized in any effort to take action.
Many shares are held by a few individuals. You'll kindly remember that as time has gone by, these large stakeholders have seen 50, 80, 90% decreases in the value of their holdings.
It should be made clear that there avenues on the table which the board is passing by.
-->Scalable approach. Instead of 2x 10k bpd plants and all of TSII, why not seek funding for 1x 5k bpd plant, and continue leasing TSII with extended option to purchase.
-->Take the deal on the table. Sell majority stake in Greenfield in exchange for large capital injection.
It needs to be made clear to shareholders why these viable options are not being pursued, in favor of a questionable funding package that may not be obtainable, while diluting shares.
I suggest talking more about these other options, specifically.
I can assure you that John will not reply.
At the last tow AGM meeting we have complained that shareholders are ignored
and treated with contempt.
At both meeting we where told this will change, but hear we are.
If you want answers you will need to attend the AGM, that way you can the same bull we get.
Writing to john@tomcoenergy.com would be a start, and voting as a shareholder, and using rational discourse to draw other shareholders to this opinion so they will vote as well.
I don't see any cohesive opinion amongst shareholders other than 'we are doomed, and they are making too much money.' I don't think either are necessarily true or useful, but shareholders should push Tomco to 'move forward' with means available in 2024, immediately. I think this is a more useful online perspective than complaining, and it might gain a bit more traction than you think.
All very good in practice O&Geo but how do you suggest that action is taken? Lack of company communication is something that TOM prides itself on
I'll have the world know that my post was published with proper capitalization, which all turned to lower case when posted. Perhaps because my expletive was removed. Cheers, and discussion welcome.
gents, i think it's time we come together as shareholders and put some pressure on tomco management for action. if the current solution is to look for 'unobtanium' or large scale funding, 2 big plants, the whole tsii lease - this option has been explored for over 24 months. this has been explored by management at the expense of costly share dilution that is not sustainable. it's apparently difficult to get this loan in today's world. there is not more global market stability on the horizon, but less.
-->one alternative would be a scalable approach. we've heard the old petroteq plant couldn't operate at 500 bpd with a profit. this plant was old and small. instead of 2x 10k bpd plants and all of tsii, why not seek funding for 1x 5k bpd plant, and continue leasing tsii with extended option to purchase.
-->another alternative would be to take the deal on the table. sell majority stake in greenfield in exchange for large capital injection.
the definition of insanity is doing the same thing over and over again while expecting different results. the board should avoid this behavior pattern, but so should we as shareholders. we can maintain the thought that 'rising tide floats all boats,' and while it's exciting to see hso get funding, and trio's interest in the area - hso's funding is for a relatively untested drilling procedure, not mining. if hso is successful, it won't suddenly become easier/cheaper to buy land in the area. if they're unsuccessful or delayed, there's no rising tide for uintah.
i understand there could be something great on the horizon. but it is far past time to deliver. in the states, we crudely say "time to ****, or get off the pot."
please join me in pushing for an achievable outcome which doesn't involve inaccessible means of funding, and delays that cost shareholders diluted holdings year over year.
Too busy counting the money I make than worrying over what somebody else is being paid.
Count the money he gets paid each month.
The company doesn't have a business plan, therein lies the problem Crownos.
I don't know what JP does with his time
Given the fact that Valkor/HSO were or are still wanting to drill for oil on the 10% of TSHII land that Tomco now own, I don't know why Tomco don't pursue drilling on their own land themselves if the oil is there to taker. This is is a viable avenue if what people are saying is true in that Tomco & Valkor/HSO aren't in good standing anymore, and things have soured.
Because, still pushing all our resources into a funding dream for something that hasn't worked out for over 2 and a half years now is becoming a dramatic drain on all shareholders involved in this share. Tomco would be much more likely to gain funding for almost a hundredth of what they are currently asking for in order to kick start a drilling campaign on their own land, than sitting for years on ends with their hats out like beggars on a street corner hoping someone will drop them close to a hundred times their current market cap on nothing but an untested idea.
I originally bought into Tomco because I saw significant gains to be had through the technology via Petroteq which had major potential for profits in Utah where so many had failed, and thought Tomco would be the leaders of that technology along with Valkor, but it seems from what others have said that Valkor/Tomcos relationship is breaking down or souring and we are now relying on technology from a company that has gone through a trade halt/removal and cases involving major fraud which only puts doubt on the whole projects ability to scale despite third party verification.
Tomco have tried distancing themselves from Petroteq stating they are only using a shell of what Petroteq offered and are now going down a different/altered route of the original tech, but it makes me wonder if the breaking down of relationships and tarnished rep of previous partners has stymied any chance of getting this project funded and off the ground.
I personally feel Tomco needs to pull its head out of the funding sand and get a grip of what is within its own remit right now as a company, and what is actually possible rather than continuing to pursue something that has now become a distant highly speculative pipe dream which is unlikely to happen without a significant sell off. It's probably still highly unlikely to happen even if Tomco agree to sell off nearly all of Greenfield anyway, as this Idea has been around for well over a year now and no one has taken the sell off bait yet.
We keep getting, "were in negotiations" but are given no evidence of how close any of these are "negotiations" are, only that they are "talking" with potential funders. I can sit with my bank and talk about a loan I know they will never give me all I want and class that as talking with a funder. Something has to give or something needs to change significantly, and soon. I'd sell up if it what the shares are worth now wasn't so utterly low making this a real boom or bust share, as with Tomco, there is no sign of compromise for something smaller but wor
The update will most likely come from Valkor
Right on our doorstep, in our back yard, but not a fecking peep from TOM
Radio (frequency) silence..
Maybe we’ll get an update next Easter then?
The Company is also announcing the commencement of drilling activities on the Asphalt Ridge project in Uintah County, UT. A rig is scheduled to be on site this Sunday, and to drill and complete the Company’s first well on this asset in the next two weeks. Drilling results are expected to be readily available shortly after the well is drilled to a total estimated depth of 1,200 feet. The project targets a highly promising heavy-oil tar sand field that is expected to be densely developed at scale, with as low as 2.5 acre spacing for future wells. Through existing working interests and option agreements, the Company has the ability to take up to a 20% working interest in this project.
“These are positive next milestones for our Company,” commented Michael Peterson, CEO of Trio Petroleum Corp. “It is very encouraging to see these next steps happen in the transition from the exploration and de-risking of these promising oil and gas assets into potentially scalable cash-flowing resources. We look forward to providing further updates as we drill our first well on the Asphalt Ridge Asset and restart production on additional wells and selling of oil produced from both the McCool Ranch and Presidents Fields in the months ahead.”
Quadrise CEO in Director’s Talk Interview
https://1lo.co/xAmuT
That first trade showing as a sell,..????
That first trade showing as a sell,..????
Be better if JB was not involved with Tomco at all.
I don't get it as the two of them seemed to get on well but I think it is the lack of payment that has caused the rift.
Nope regarding funding as he had fallen out with JP.
He did mention the 1 mill we still owe them and that we are not involved in the well drills.
At least someone tell you what’s happening,
Did you ask him what happing with our funding,
I asked Steve Byle regarding the 10k a month, his reply.
That payment has stopped, as TomCo stopped providing services last year. Not sure when last payment was.