Member Info for minimil

Joe.. please can you post a link from the Greenfield company website "the about us" one would make interesting reading.

Dazzle.. - That's what it was worth at the time. You needed to ask me that?

Joe.. I am Minimil btw - Your the one that is misleading people. Greenfield is TOM + Valkor - how come you don't get it?

In addition, whilst the API number directly reflects its density and indirectly its viscosity, the addition of solvent would only affect the transport properties. API oil is made up of different cuts from C1 to C36+. Adding solvent will not miraculously turn the heavy API 17 crude into a beautiful API 35. It does not work like that. I'm surprised PDQ did not mention this.

Sounds good, but how much solvent needs to be added to produce the three different blends from a starting API-16-17 Crude?
How much does the solvent cost per barrel?

@JoeYang... I think it is you who is lacking what is going on. Perhaps you can oblige us all how Greenfield is going to raise the finance given it is the 50/50 JV between both companies?
I would suggest you read the last few RNS from TOM, the interims one in particular.

My take on this is that certain per-requisites need to be in place, all of which will affect the funding:
1. Due diligence on the land is positive (i.e. it will be purchased by Greenfield) - 90 days from June 1st (I think)
2. $2MM has to be paid for 10% of the land by 1st September. TOM has cash for its share but does Valkor?
3. $16MM needed to purchase the remaining 90% by 31/12/21 (assuming they want to build the plant asap). TOM would definitely need a loan or placing to cover its share but what about Valkor?
4. A loan(s) would be required for TOM's share of the $110 MM plant - Same for Valkor!
TOM's BOD need to get assurances from Valkor that they can come up with the money. In parallel TOM need to issue a very positive business plan so that it lifts the SP beyond 1p. This may lead to the outstanding warrants being exercised (yes 705 million of them at 0.9p) raising over £6MM.
If all these ducks fall in a row I'm sure all shareholders will have a great Xmas!

Yet the people keep voting for these scum bags....

Nice post Joe. Would be nice to see the options awarded yesterday taken sooner rather than later. That may allow the outstanding warrants (quite a few of the btw) to be exercised at 0.9p to raise funds to allow purchase of the land. The ball is well inside the BOD's court to show the way with their own cash. We await what looks like a positive FEED report along with a business plan to execute and implement the plant.

Well TOM need to come up with the (majority debt financing) method soon. Followed by decent news on the FEED report and hopefully they can exercise the outstanding warrants.

Unfortunately as per my last post AS has failed to deliver. Given that Avacta was a cancer bet and Covid-19 was a real bonus 9which most of us made gains on) I think the reality is that now people have been vaccinated why would they want to pay for a test? Either the vaccination fails or the tests. With too much political emphasis on the vaccination program there is only one winner. Case now is with the cancer trials how much spin will AS put on this? I am not predicting an SP but it's very worrying to be long atm.

@Bob... Think you are being slightly pessimistic. Based on comments from Petroteq they expect production costs to be cut to $25 per barrel and these would be largely offset by sand sales. So overall could be in the $5-10 range. Transport costs will vary depending on where it goes and who they use. My own model so far is based on $45/barrel clear profit and that is very attractive.

@Killjoy - I guess that's one take on it. I prefer to await the final FEED report. Before then though it's both interesting and funny reading all people's views on where TOM will end up. Taking into account the transport costs it's a good price per barrel for a low API crude oil.

Sorry for my FFS language last night.
On average there are 705 million warrants outstanding @ an average of 0.9p a share. If all of these were exercised then it would raise approximately £6.3MM for TOM, along with a 33% share dilution. If these proceeds are mainly spent on the site acreage as opposed to salaries/bonus's then I could live with the dilution. orslega is correct with the snippets from previous RNS's where the funds from previous placing will be spent. I really hope when the RNS about the final FEED report is released there is some mention on how TOM's share (approx 50%) of the 10k plant will be funded along with the land. The old saying of start off small and grow bigger may well apply here. A 3-way JV with Petroteq and Valkor + a 3-4 year loan for the £50million TOM would require would be more favorable to the SP for the first plant. After then,the next plant is financed from Oil/Sand revenues and so on. Let's see what the next few weeks brings...

FFS people dyor. Look at the outstanding warrants between TDI and NSL 0.4p and 0.65p.... I expect that is the case but TOM should release RNS if warrants are exercised.
TOM's history has always to do placings to support its projects of $5million or so. A repeat of this for what may be a $200MM project would be criminal. Loans, farm ins are better options as I have previously stated. If you are expecting to get rich quick from this move on.

6.29 oil barrels/m3 (don't confuse US gallons with Imperial gallons which differ)
1m3 =1000 liters
I am sure the FEED will address transport logistics.

* rampers

@Smith.. it's part and parcel of being on a forum boards. You can have sensible discussion, but as soon as there is sp movement the dampers/derampers appear like woodworm.

The last fund raise (Nov 2020) was almost $5MM so depending on how much they had to lay out to get the POSP working (low temperature mods) I would expect there is enough in the pot for the due diligence work. Also revenues from the POSP would be interesting to see. I think they will put Turboshale on the back burner for now and focus on the oil sands. A lot of number crunching to be done on how this will be financed. I just hope TOM don't do what they have always done to raise funds.

@Torre.. - your foundations are appreciated. If she has this week's lottery numbers please let us know. Moving on .....