Member Info for minimil

"Paul/Joe - sounds like you are the same poster - 1 min of each other bad mistake. Again please produce the evidence of Valkor's credit worthiness. You've been found out. I will accept it from either one of you or both lol!

@Sarir - yes I read that on their BB. They took the efforts to attend buy clearly didn't record it. Otherwise no need to get any approval from JP.
It's still going to be a slow process until year end. DD on land, fund raise for 10%, big fund raise for the whole project, Quadrise testing results. I look forward to the approved narrative from the adv guys.

Did anyone here attend the AGM today? If so any chance of an executive summary?

It's a shame Valkor can't help with the funds for the land purchase assuming the DD warrants the purchase.

Then again what does one expect from them?

Joe where is Valkor' s cash to help this? Incite or Insight?

You seem to have all the answers.

Cronos - Welcome to the TOM bb. Nothing new in what you say that most of is don't already know.

Do you have more incite into Valkor?

Smithhy. Joe only believes in Valkor. The mysterious Valkor who have not put a penny into this project. Ok a bit unfair, labor and engineering expertise. But when this project needs money they ran away. Say no more.
I think if you read most of my posts I am more positive than negative.
Good luck.

Thanks Stephen - The board attracts all types.
I wish he would ask his mate SB to stick his hand in his pocket and put a few million quid into this venture.

Joe - (Valkor lover)..
Nope, too far away from me, and I do not want to do 14 days covid quarantine on return journey in a prison hotel. But I see nobody replied to my AGM post about who is attending?
If any serious share holder here with more than 10 grand of their hard earned cash does nor attend within a tube ride distance shame on you.
You guys are filtered into my bag, but not on LSE - you already messed up with Valkor and lost. Tom are on their own, Valkor will be a memory soon.

3.5 mil raised
0.5 mil to loan to GF
1.5 mil to spend towards the land
Remainder to run the company
As of June only 1.39 mil left in the kitty?
How much did they spend on the POSP to get it producing 200+ bbl/d
How much did Valkor and Petroteq contribute to the re-works? Sound like next to sfa.
The November 2020 placing RNS stated specifically where the funds would be allocated. So if Tomco are to raise more funds by another placing for the land who the hell will believe them?

Good point WongaFC. Maybe Quadrise are looking at this as part of their testing program.

Tom, very kind of you although I doubt a few on this board may agree with you.
I would recommend you go through the Quadrise presentations. The recent on to a Spanish company is very informative.
Based on the information I have seen, I don't see why not. My only concern is the chemical compatibility between the Petroteq solvent and the Quadrise surfactants. I expect there will be traces of the former in the oil. The current testing trials should address that. If all goes well I could think of several applications:
1. As a fuel
2. Viscosity reductions to aid transport
3. and.... possible integration into the process to enhance it.
Good luck and don't be afraid to post. Most people on here are decent.

Is anyone going to this?

@Vauch - Fair point. Post the first plant there will likely be a parallel activity of reducing debt and building more plants to increase revenue. Their new finance guy no doubt will propose a business plan that provides the greater opportunities for success.

Well, well, well what can I say? First the good news the village idiot got it right about Valkor. 593 million shares to Valkor at current SP values its 50% of Greenfield at just over £3 million. Clearly more if the project is successful and the SP rises accordingly. As I previously stated, I had my doubts how Valkor would come up with its end of the money and those doubts have now been fully realized. Bye Bye Valkor? See point 3 below.

Next the better news, the DD on the land as announced is so far positive, let this continue.

Now the points for discussion..
1. $126 million has to be found by Tomco alone (majority by debt (loan)). As certain posters have stated already this puts TOM in a better position to negotiate the debt financing.
2. To exercise the outstanding 0.9p warrants and reduce the effect of the minority funding placing dilution the SP needs to be above 1p. How is it going to get there from now until say year end? TOM BOD need some heavy PR work to sell this project to potential investors!
3. The EPC cost for the 5000 bbl/d plant is estimated at $110 million. Clearly this would have to go out under competitive tender. If Valkor now have a 29% shareholding in TOM would they be allowed on the bidders list? Any lawyers out there please advise.
The next few months are going to be very interesting and one thing is for sure the Tomco BOD have to really earn their coin to enable the FID.
I will end on something very positive - subject to POO/sand one 5k plant will generate almost £70 million/yr profit. In the first few years a chunk of that will pay off the debt. So imagine when the debt is paid off and some of those profits are used to build another 5k plant, then another... then another... I am sure the Tomco BOD know this and it will make them very rich people in 5 years if they pull it off. Along with a few shareholders here I hope. GLA!

Fair comments Tac. I would like to think that the new revenue would spur our BOD into action and progress the company as its name deserves. Issues for me are that next RNS will involve options at 0.5-1p to the powers that be. Really hope the oil flows from Wressle and bigger things lie ahead. MM

Maybe when the accounts show a decent profit against the current market cap.

@Oslega - Useless RNS in my opinion. Needed a few more sentences. "The reason for the extension is to enable..." Otherwise we all keep on guessing. I'm waiting for a due diligence update on the land purchase. That's the main course for me. MSAR is just an after dinner mint.

@Blackwash - I would have expected Tomco to do that already?
I emailed Valkor almost 2 weeks ago - not a single reply or acknowledgement. I guess they are too busy on all these major projects they are executing.

@Paul.. I'm doing my best to find out more about Valkor - emailed them 9 days ago and no reply. Whilst I do not expect them to reply they could at least update their website to reflect who they really are and the progress in Utah. Putting pretty pictures on a website does not do it for me. A list of projects and their value would be more convincing.
Anyway, if anyone had better information about Valkor I am sure it would have been posted by now so that this matter could be ended. If I do get a reply from Valkor I will post it here.
A share holder friend of mine who shares my concerns will be attending the Tomco AGM and the Valkor question will be asked.

@Fadec92 - thank you for the twitter link. Can see lots about Petroteq and Quadrise but one ingredient is still missing.