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TOM is just marking time now whilst the final mining permit applications are approved and issued. Hopefully, this month will see the Water Discharge Permit being issued subject to a public consultation period followed by approval of the large mining permit. Red Leaf has already begun strip mining the shale at their own site and work on the construction of the Ecoshale capsule is about to start this month. The sp seems to have settled between the 1.20 to 1.35 range recently. Turnover is actually quite low and I have a feeling that TOM is drip selling shares into the market regularly through their liquidation facility managed by Windsor Capital. At some point next year or possibly sooner we shall see a large spike in the sp as reports come in about the progress of the Ecoshale Capsule construction. Then eyes will be on TOTAL to see if they will be approaching the TOM board with a takeover offer. Those of us who have been investing in TOM since they re-listed in 2011 will be looking forward to the END game
Red Leaf is already mining the Oil shale and the construction of their Commercial sized Ecoshale Capsule will begin in July.
I suspect that Tom's Brokers are drip feeding shares into the market on days when there is reasonable buying. This method will no doubt hold back the SP until this facility has been exhausted.
This is the last line of their May 27th RNS Post the reporting date, the Liquidity Facility conditions amended on 23 September 2013 were removed.
Halifax, They have now discarded the 2p limit in their last rns
There will be no need for a rights issue before the planned end of Red Leaf's commercial ecoshale capsule. They have an existing fund raising option in place whereby they can drip sell shares into the market when the sp is acceptable and stable. They could raise around 1.5 million dollars through this facility without diluting shares issued further. Tomco is also prepared to sell tranches of their holding in Red Leaf that was valued at $5,000,000 nearly 2 years ago. So you would expect that their holding in Red Leaf will be worth at least what they invested? Where Tomco stand now they have very little cash drain other their Directors overheads and Administration costs that are kept under tight control. If you believe PR all necessary mining permits shall be issued soon and then they can just wait until a bid arrives from a Major!! Lets not forget that Tomco are the only listed company who own oil shale leases on none Federal land in the United States and they are 5 years ahead of ANY other Company planning to mine oil shale!
Saltere, I think you will find that the DWQ in Utah is very efficient. I have regularly written to then during the Red Leaf Water Permit application and they always replied openly and promptly. Once they issued the full permit to Red Leaf they actually turned the tables on the Environmentalists stating that they would need to prove that their permit application was flawed and they would need to provide technical report of their own to allow a legal objection to go ahead. This of course was an impossible task for Living Rivers and the permit is now set in stone! (Excuse the Pun) Tomco are following the exact process so they should also be given a water permit and a large mining licence. They could be in place as early as June/July time?
Not sure whose Water Permit you are referring to Saltere? Red Leaf's permit is fully approved. Tomco have drilled 10 holes on their own Holiday Block site and they did find some very slow contaminated water flow on 3 holes. But they wold be ancient trapped water channels that on analysis contained Arsenic!! They are irrelevant as the natural water table is hundreds of feet below their drilling so shouldn't be a problem. No doubt the environmental group Living River will object during the Public consultation but Tomco has a year or so to satisfy the authorities.
Should Tomco decide to sell their main Asset and retain their listed status then a special dividend would be made to all shareholders. IMO the offer to purchase Tomco otr their Oil Shale assets would be a Total cash offer!
Finally, Paul says he would be happy to take phone calls or emails from any interested Party. I thought his presentation was excellent, he looked comfortable and relaxed and I felt that he was a real hands on "Oil Industry" experienced CEO.
I managed to speak with Paul Rankine for around 45 minutes after the presentation last night in Manchester. He really is quite pleasant company and he was happy to answer any question without any reserve. There were several other people around him too including The Bit Before and we had a good one to one chat as well. Regarding the leases. I can confirm what Madigansar told us about the Total connection but I pressed him to explain more about what was "On Sale" The reality is that Total could acquire either the whole company or just the Assets! The other Tomco lease is located 65 miles away from the 2 leases held by Red Leaf and Tomco and is not suitable for the Ecoshale Technology. He commented that the other block lease could be sold or traded onto a third party in return for a more suitable lease? They have no other identified leases that they would like to acquire at this time! Paul stated that they have no intention of trying to raise finance to fund a mining project and they would seek a buyer at the point when the peak oil flow was reached from Red Leaf's Commercial Capsule. He also went on to say that no other company working in Utah is currently in a position to obtain all of the necessary licences and mining permits. This gives Tomco a 5 year lead over any new player in the region. He also stated that none of Red leaf's other owned leases has begun the process of even applying for a basic licence to start assessing the land for Oil Shale. Red Leaf is currently fully focused on the EcoShale Technology and they have been pressed by Total to pull their finger out to begin construction of the capsule asap. RL has spent a great deal of time tweaking the design and talking to sub-contractors and specialist supliers for months! Total is now taking closer control of the project and mining of the oil shale has already begun. Construction of the Ecoshale Capsule will start in July and could take up to a year to complete as they are committed to getting it 100% right first time So we could be looking at what I expressed as a "500 day development project" from now to the end of the full test. Way before the end of this project Tomco "Will be ready to Go" having all mining Permits in place. Ready to Go means Ready to be bought!! I also asked about progress with the JORC status. Paul said that all calculations will be with them by mid year but achieving full reserve status would have little impact as banks are no longer offering funding for Reserve status JORC status. Tomco has $2.2 million in the Bank and he feels that this money with take them up to the point when an offer is expected. They may, if necessary decide to sell tranches of the $5 million investment fund they made in Red Leaf. Paul believes that Total will value Tom at around $265 million when the Red Leaf technology has been successfully tested. Finally, Paul says he would be happy to take phone calls or emails from any intere
It should be an interesting evening this Wednesday in Manchester. I'll report back anything useful
Hi Mike, I will take up your points with him if I get the opportunity to pin him down. I do know through my friend Stephen who met him and their FD when he attended the UK Investor show in early April. PR said that TOMCO has around $ 2,000,000 in the bank plus they could sell all or part of their stake in Red Leaf. PR commented that they may just sell the leasehold oil shale assets and keep TOMCO trading with other ventures in mind. Total was seen as the probable buyer and a figure of 15p a share was mentioned as a likely selling price once the Ecoshale Capsule was fully proven in 2015. I'll take your advice about not being an existing shareholder at an Investor event! Enjoy a pleasant weekend Mike and many thanks for all of the very well informed comments you make on this and the ADVFN Forums. Thanks Mike
santa anna, I have re-posted my earlier comment that this is a very volatile share at the moment due to the long winded restructuring of the Company Finances etc. Without any tangible news you will find speculators trading this share up and down. Things do appear promising for TALV but it will take time for the company to publish it's forward plans and then to start implementing them. The sp has moved up from 3.5p to the current level so you will see waves of profit taking but if you are here for the longer term you may be well rewarded but we are not out of the woods yet so it's still a very speculative share to invest in! GLA
willg, This is a very volatile share at the moment due to the long winded restructuring of the Company Finances etc. Without any tangible news you will find speculators trading this share up and down. Things do appear promising for TALV but it will take time for the company to publish it's plans and then to implement them. The sp has moved up from 3.5p to the current level so you will see waves of profit taking but if you are here for the longer term you may be well rewarded but we are not out of the woods yet so it's still a very speculative share to invest in. GLA
As far as I can see TOM are not presenting in London 15th April. They are presenting in Dublin on May 13th and Manchester May 14th. http://www.proactiveinvestors.co.uk/register/event_details/233
I shall be at the Manchester Presentation. I will report back anything useful!
There was always a nagging doubt about the Environmentalist Group Living Rivers carrying out a Legal appeal process against Red Lea's approved Water Discharge permit. This great news means that the Approved Ground Water Discharge Permit for the building of the Ecoshale Capsule is set in STONE and Tomco's own Water Permit Application will also be approved soon! Add that the prospect that Tom's Oil Reserves should be upgraded to full RESERVED status in the near future. At last we can look forward to TOM having ALL permits in place by the middle of the year. We will also be given regular updates about the progress of the of the Ecoshale Capsule Construction that will keep TOM in the news over the next year. 2p should a very realizable short term target now. Certainly, Happy Days ahead for TOM investors............
Take a look at these 3 Videos. http://vimeo.com/84232614 http://vimeo.com/86561216 http://vimeo.com/86443114 It's the first time in 3 years that we can witness the whole process from Mining the shale through to production of the test Ecoshale capsule. Useful input from Utah County and Red Leaf management on the other 2 Videos. Tomco's leases are looking more and more valuable now that we can see the permitting process progressing quickly. Red Leaf should also make huge progress with the construction of the Commercial Sized Ecoshale Capsule this year.
TOMCO has confirmed that they be exhibiting at this influential show in April. PR is at last getting the TOM show on the road and he appears to be fully committed to drumming up investor interest now that TOM is in the process of applying for their own Water and Large Mining Permits. Although Red Leaf is aware that Living Rivers has lodged a very basic appeal against their approved water permit, there is no sign that the Permit will be suspended or rescinded as the technicals are in favour of Red Leaf. Living Rivers would need to disprove DWQ's long awaited approval and based on comments I received from the Deputy Chief Attorney, this possibility is very unlikely! http://www.ukinvestorshow.com/exhibitors/