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EARNINGS: Caledonian swings to loss; Altona Rare Earth loss widens
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Fri, 07th Oct 2016 11:54
(ShareCast News) - TomCo provided an update on the proposed palm oil milling operation in the Makeni oil palm belt in Sierra Leone on Friday.The AIM-traded firm said that, following completion of the equity fundraise announced on 2 September, discussions have been ongoing with potential debt providers with regards to securing a debt facility to part fund and enable the company to commence procurement and construction of the initial one tonne per hour processing plant."Whilst discussions remain ongoing, the company has been considering the optimum development plan for the project, given it is the board's intention to seek to fund the majority of the project's capital expenditure from such debt financing," its board said in a statement.As a result, TomCo is now considering proceeding directly to developing the 2tph palm oil production plant and associated packaging plant, with an expected aggregate capital cost of approximately $1.25m, rather than a phased ramp up from 1tph to 2tph."On securing the necessary debt funding, the company anticipates that it will take approximately six to nine months to commence commercial operations."The company proposes that the soap making plant will be brought on stream at a later date, with the estimated cost of $275,000 being funded from the anticipated early cash flow from the project."TomCo said it has also decided to proceed with purchasing the boiler unit for the 2 tph plant at a cost of $27,500 from its engineering partner in India."This is largely due to the boiler being a long lead item, which takes approximately four months to construct."This shall be funded from the company's available cash reserves, which as at 3 October, was approximately £375,000."Progress is also being made at the Makarie site despite the waterlogged nature of the ground following Sierra Leone's rainy season, the company reported.Drainage ditches are currently being dug in order redirect any further water runoff from the main access road away from the site allowing work to recommence on clearing the site trees later this month."Other items of equipment and management personnel have already been sourced locally in Sierra Leone and site works will begin in earnest as soon as financing has been obtained."TomCo said it has also held preliminary discussions with regards to a potential offshore offtake agreement, pursuant to which the company would seek to sell palm oil to the offtake partner at the factory gate for overseas exports."I'm delighted to see the progress being made regarding our palm oil project as we consider moving straight to the larger scale production plant which will result in an increased return on our investment. We look forward to updating the market going forward," said chairman Andrew Jones.
More News
21 Feb 2024 13:27
TomCo raises £0.3m to bolster Greenfield's finances
(Sharecast News) - US-based oil developer TomCo Energy announced a fundraise of £0.3m on Wednesday, in a bid to bolster the finances of its Greenfield Energy subsidiary.
Read more21 Feb 2024 11:54
TomCo Energy raises GBP300,000 though placing and subscription
(Alliance News) - TomCo Energy PLC on Wednesday said it has raised GBP300,000 through a placing and subscription of shares.
Read more21 Feb 2024 10:49
AIM WINNERS & LOSERS: Zinnwald Lithium soars on Saxony estimate
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
Read more2 Jan 2024 11:27
TomCo Energy raises GBP50,000 through subscription of shares
(Alliance News) - TomCo Energy PLC on Tuesday said it has raised GBP50,000 through a subscription of 50.0 million new shares priced at 0.10 pence each.
Read more13 Oct 2023 15:19
TomCo raises £0.1m as it works on Greenfield plans
(Sharecast News) - TomCo Energy announced the raising of £0.1m on Friday, in a bid to shore up finances for the plans of its subsidiary Greenfield Energy.
Read more13 Oct 2023 12:57
TomCo Energy rises as raises funds through subscription at premium
(Alliance News) - TomCo Energy PLC on Friday said it has raised GBP100,000 through a subscription of 125.0 million new shares priced at 0.08 pence each.
Read more13 Oct 2023 10:53
AIM WINNERS & LOSERS: TomCo raises funds; Instem bid "final"
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
Read more10 Oct 2023 10:07
AIM WINNERS & LOSERS: Image Scan up on expected swing to profit
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
Read more22 Aug 2023 15:45
UK shareholder meetings calendar - next 7 days
| Wednesday 23 August | |
| Brandshield Systems PLC | AGM |
| James Latham PLC | AGM |
| LifeSafe Holdings PLC | GM re shareholder circular |
| Momentum Multi-Asset Value Trust PLC | GM re appointment of the liquidators |
| Sovereign Metals Ltd | GM re share placement options |
| Thor Energy PLC | GM re proposed share consolidation |
| Thursday 24 August | |
| Ananda Developments PLC | AGM |
| Concurrent Technologies PLC | AGM |
| CyanConnode Holdings PLC | AGM |
| Nuformix PLC | AGM |
| Oryx International Growth Fund Ltd | AGM |
| ThomasLloyd Energy Impact Trust PLC | AGM |
| ThomasLloyd Energy Impact Trust PLC | GM re market purchases of its own ordinary shares |
| Friday 25 August | |
| Honye Financial Services Ltd | AGM |
| Iconic Labs PLC | AGM |
| Ormonde Mining PLC | AGM |
| Ormonde Mining PLC | EGM re AIM delisting and proposed investment in TRU Precious Metals Corp |
| Monday 28 August | |
| no events scheduled | |
| Tuesday 29 August | |
| Axiom European Financial Debt Fund Ltd | EGM re liquidation of the company |
| Livermore Investments Group Ltd | AGM |
| TomCo Energy PLC | AGM |
| Copyright 2023 Alliance News Ltd. All Rights Reserved. | |
30 Jun 2023 17:24
IN BRIEF: TomCo Energy cautions on future of company as loss widens
TomCo Energy PLC - oil development group operating in the US - In the six months to March 31, pretax loss widens to GBP1.4 million from GBP678,000 a year prior. Posts no revenue in either period. Looking ahead, firm cautions: "The cash reserves currently held by the group are insufficient to fund ongoing overhead costs for the next 12 months. However, based on a history of successfully raising additional funds when needed, the directors have a reasonable expectation that the group will be able to raise the required additional funds as necessary."
Read more14 Jun 2023 10:52
TomCo Energy raises money to fund subsidiary's buy of Tar Sands
(Alliance News) - TomCo Energy PLC on Wednesday said it cancelled a loan facility as it was replaced by another fundraise, focused on financing its subsidiary's acquisition of a tar mining services provider in Utah.
Read more6 Jun 2023 11:26
TomCo Energy buys remainder of Tar Sand; seeks funding for subsidiary
(Alliance News) - TomCo Energy PLC on Tuesday said subsidiary Greenfield Energy LLC is buying the remaining 90% stake in Tar Sand Holdings II LLC.
Read more24 Apr 2023 15:31
IN BRIEF: TomCo draws down GBP250,000 from convertible loan facility
TomCo Energy PLC - oil development group operating in US - Draws down first GBP250,000 tranche from GBP1.0 million convertible loan facility, with the funds expected to be received on or around Wednesday. In accordance with the terms of the facility, the convertible loan subscribers will be issued with 41.7 million warrants with the drawdown of the first tranche, exercisable for a period of three years from the date of drawdown, with each warrant granting the right to subscribe for shares at an exercise price of 0.60 pence per share. Novum Securities Ltd will be issued 10.0 million warrants.
Read more24 Apr 2023 13:25
TomCo draws down first tranche of its new £1m facility
(Sharecast News) - TomCo Energy announced on Monday that it was drawing down the initial £0.25m tranche of its £1m convertible loan facility, which it announced on 30 March.
Read more