RE: John Potter RIP4 Jun 2024 12:06
As unfortunate and sad as it is given JP's passing, shareholders are due some guidance on what is happening, if anything has changed, or if their focus still remains to pursue their pie in the sky funding for 2 5k bpd plants.
Given the collapse of Ecoteq due to their inability to find funding for a remediation plant 10x smaller than that of Tomco's 5k bpd remediation plants, then this casts some extreme doubt on funding being a viable option for Tomco. Personally, it's been clear for a while, but it's even clearer to me now that funding is ever harder, and if a seperate company cannot find funding for a meger 500bpd plant, then how does Tomco think that funding will come forward for two 5k bpd plants.
Seeing things crumble for Ecoteq hits home here that we shareholders need more clarification on how Tomco can ever meet there extremely high funding requirements, and if not, what are their next steps, what is plan B, C & D, and if funding has been extremely difficult over the past two and a half years of chasing, then why on earth has Tomco not done the obvious thing and lowered their expectations to kickstart something more within their price range to pump some value into the company for its shareholders.
The lack of any declaration of even a plan B or lowered expectations, along with still pushing for a single pie in the sky plan with no backup is more concerning than ever.
Given the positive evidence coming out of Valkors HSO regarding their drilling tests for their unitization campaign, Tomco could very easily jump on that bandwagon and seek the permits if needed and pursue this kind of oil to get things and revenues flowing, as the capital needed to pursue tried and tested drilling techniques could be well within Tomco's remit and could push out revenues in the very near future instead of us all continuing to hang off a cliff regarding whether or not funding will be attained for the Greenfield project.
Tomco need to do what's best for its shareholders and do whats within their remit to secure revenues, start small and build up. Back when Tomco was close to a penny with a market cap 20x what it is now alongside the tech being brand new and rubbing shoulders with Valkor etc. I was rather confident of a possibility that funding could be secured and Greenfield taking off, but now it's looking ever more like a pipedream, and one where Tomco seem to be so adamant to drive off a cliff trying.
With JP now gone, this makes Tomco's future intentions even more critical to shareholders, especially when the share is continuing to nosedive to even more record lows with no way to recover from this black hole unless a funding miracle happens. Whist AIM is always a large risk, there is no reason whatsoever why this company cannot see reason to pursue stability for its shareholders instead of a hope and a prayer, I have no doubt the shareprice would rise nicely on scrapping this pipedream and going for something smaller and well within ou