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Nicely.
Lots of positives here and a very sweet entry SP.
DYOR
Just bought in too
Lots of positives here and a very sweet entry SP.
DYOR - Ignore the losers / shorters
Terrier - "Lots of positives here and a very sweet entry SP. DYOR"
Bobat - "Lots of positives here and a very sweet entry SP. DYOR"
For a moment, I thought terrier had accidentally Google posted.
In other news, both fffishxx123 and positivevibes are now on the filter list.
As for TYM and the placing...
"The placing will be made by the Subscriber by way of prepayment for Company shares to be issued, at the Subscriber's request..."
= TYM will receive the money, and give PMC an IOU note for 600k worth of shares (equity only, there's no loan here).
= No immediate dilution unless PMC choose to take those shares right away. If they do, that's a massive vote of confidence. If they don't, they either expect the price to fall further and think they'll be able to secure a lower entry based on the five day VWAP, or they believe the price will go so high that they will make money even if they exercise their option at .42.
As for the formula..
"The number of shares to be issued as a result of the placing will be determined by dividing the subscription amount (or that part of the subscription amount in relation to which the shares are being issued) by 95% of the prevailing price, the latter being the average of the five daily volume-weighted average prices during a specified period immediately prior to the date of issuance of the shares."
My reading of it, which I'm happy to be corrected on, is as follows.
Subscription amount is 600k.
The price to divide by is 95% of the 5 day VWAP. I can't calculate that right now, but let's say for the sake of example, it's 0.25.
Therefore, the price would be 0.25*95% = 0.2375p
That means PMC would receive 600k worth of shares at 0.2375p each, roughly 252m shares.
For reference, we have 734m shares currently in issue.
*double posted, not Google posted
Kaisharpe
Makes sense mate that they pay 95% of the price at the time of issuance of the shares. Why would they pay more then? Not in their interests. I think I over complicated it.
Same sentiment in terms how it goes. Hopefully they accept their shares soonish rather than hang on too long.
I know all these figures are vital to the progress of the company but I can’t get away from the fundamentals of the market cap being only £2m now.
Good results and they find millions of ounces? It has to rocket somewhat. They have to stick to the timelines now and this project has a great chance of success from here.
Decent results and would expect a JV deal to take things to gold extraction.
“Lots of positives here and a very sweet entry SP”
It’s nice to see two minds so perfectly in sync here...
Pingu, "It has to rocket somewhat."
In a normal world, yes.
But in a normal world, yesterday should have seen us hold well into the .30s. The market as a whole has a liquidity problem.
I like fast profits as much as the next guy, but I'm hoping that the next 6-8 weeks will be a slow but steady rise.
Disclaimer:
I am not 'Bobat123' ! Lol.
'Imitation is the sincerest form of flattery that mediocrity can pay to greatness'
Kaisharp one of the most sensible points made on here for a while.
Kaisharpe
People don’t have the confidence in a gold Discovery/miner until everything’s nailed down and co formed in black and white. Gone are the days of buying on speculation unless it’s to a timescale of days rather than weeks. Timescales too long for traders even so pounce so I see us maybe struggling for a slow consistent re-rate over the coming weeks, even though that’s what I’d love to see.
I am usually wrong though about short term directions hahaha medium to long is my game though and very excited with the milestones we’ll hopefully be ticking off over the coming months.
In terms of ‘rocketing’ I simply mean a multi-million pound find simply cannot leave the SP down this low.
This is in the plan imo . I think this is the last day of the 5 day average - maybe precious metals end up at .25 a share . Tomorrow morning rns would not surprise me at all and the market will push this up above .30 as they then know there will not be any more fund raising for a while . So tomorrow it is for me .
TDT
I also have the same concerns as to why these projects haven’t been taken forward with such good prospects established.
I refer to mineralex’s post about the mining costs using the Diamond drill approach. Maybe it was established this was the most beneficial mining approach but the costs for it couldn’t be justified at the time. Bigger companies have other prospects that may have permitted a cheaper drilling approach therefore those take priority.
I merely speculate as to angle of rationale.
Is the gold play such an excessive gamble though based on location? Seems to have the same signs as the surrounding successful producing mines by the big boys. I just think it’s a combo of both extraction costs and a ‘chance of success’ issue that pushes it down the pecking order of the licenses that predecessor held.
Maybe gold prices have been a driver. Getting Rid of the fluorspar focussed MD probably knocked that down TYMs priority list.
Begs the question though.
I’d email the company about that one.
I sent them an email this morning asking for confirmation about a few things and they replied already. Good admin!
And it’s because of funding I thought. The £600k new placing gives funds towards the fluorspar project. The gold initial drill needed less (I assume) and was raised earlier in the year.
TDT - yes, exactly as your post.
This company is entirely odd - supposed "world class" deposits all on mothball due to funds and or/license.
I don't understand the gold project at all to be honest - why not progress MB with the funds or seek additional funds of its "world class". As a Project it ones of the more simple architectures to execute - Origin, location, license.....etc
Yet we are off with our gold pans sniffing around 30 off yr old assets.....that have gone overlooked by every man and their dog.
Kinda feel like TYM has becomes that strange old man down the pub - just rambling...."there gold in em hills, I tell ya!"
Although, stranger things have happened. The Goonies found gold using an old map - also found chester copper pot on the way! Who wants to play Mouth, Chunk and Sloth ? Cheetham would make a nice Mikey.
Heeey Yooouu Guuuysss
I agree with a lot that your saying . But doesn’t change the fact that a company has just invested £600 k here . I’m just hoping they know more than us . That’s a lot of money on a small fry outfit in this climate to invest in a “duster” so to speak . As I mentioned earlier, 5 days average are up imo news in morning or Thursday at latest . It’s just the way the price has acted lately and has bounced off .30 god knows how many times is my reason .
The MB project is a fluorspar project of which there are very few in USA. The Gold project is surrounded by commercially viable mines owned by the big boys. As a result I’d guess there’d be a very little chance of a JV with anyone fluorspar whereas for gold it sounds like a no brainer. Also the fluorspar project sounds to be a number of steps away from getting near production with metallurgic work, modelling production scenarios and then onto a scoping study. Basically, sounds expensive and they’ve suggested they’ve got the dough.
The gold project at pyramid offers a much quicker route to income. Quite simple on reflection.
Potentially very simple and rational. Timescale and costs. That’s quite simple. Costs only up to JV for gold versus costs to full production for fluorspar? Slightly different I’d suggest.
Doesn’t mean that they’re not going to push the fluorspar project but maybe it’s delayed awaiting this last round of funding and further funding down the line to come from a gold JV taking it further down the line.
You can be a patronising idiot sometimes. Maybe you should be a company director for tym - it’s all very simple to you ... but to do the opposite of what tym are doing. Obviously.
TDT makes a point though......
Cash flow is the argument. Raise cash via a bigger placing if needed once value of companies moved up after maybe securing a JV for the gold? Then plough it into the fluorspar.
Are you saying this couldn’t possibly be an explanation?
We’ve got some series naysaying going on here if you won’t accept that their could be sensible rationale behind their decision making.
Sheesh, tough crowd.
Fluorspar project simply not as far on as you seem to think it is. Plenty, plenty to do before people take the project seriously.
“ Following successful completion of the metallurgical testwork, the Company will progress to modelling various production scenarios and optimisation of the transport method/cost from mine to the USA market and ports. Successful completion
of these work programmes should enable the Company
to work towards completion of a Scoping Study. Further work required for the completion of the Scoping Study may include an additional phase of drilling to target higher grade mineralisation, in line with the recommendations received from the appraisal of the MB deposit from world renowned economic geologist, Dr Richard Sillitoe.”
Wouldn't say it's naysaying - just questioning what's going on before I thump in my cash.
So much just doesn't add up with TYM as a business. It should, on the face of it be a stonking buy - decent assets, worth a good chunk if developed, yet half of it is sort of left dawdling about.
What are we? A Fluorspar miner, tantalum miner, gold miner? Sort of lost its identity a bit.
My concerns to echo TDTs, this gold project dies feel a bit dice roll. The market cap is so low, any raising for any decent funds just smashes the dilution apart. Explains why it's become a bit of a rise and hype stock - theres no vision/plan to invest against.
Conversely any success blows it open.
They claim to be developing some projects from infancy through to extraction but I can’t see that from a tiny micro cap. They just want enough interest to set up JVs and at least start some cashlflow to keep moving things forward however far they can’t ace them alone - which is agreed limited in my view.
This gold project due its location is primed for one of the big boys to buy out/JV. Providing the post the relevant numbers.
Fluorspar seems a long termer to me and why they let the MD ‘fluorspar specialist my move on because they’d nothing for him to drive forward in the short term.
At the moment they’re a gold discovery/miner - for the next few months at least.
Can't disagree mate - IF there is gold at a decent grade, then kaboom.