RE: First time poster18 Aug 2021 05:28
@TomD.. - Welcome to the TOM board, interesting name you have.
@oilbethere's post is a decent summary, although I am not entirely sure how he has determined the SP predictions. If he is correct then that will enable the 705 million 0.9p warrants to be exercised providing decent cash for Tomco along with the share dilution. I would refer you to my post of a few weeks back in which I came up with an option how TOM would raise its part of the $126 million to sanction the project. My big uncertainty is how its JV partner, Valkor will do the same. During the successful POSP trials Petroteq provided the plant, TOM provided the cash to modify and run it, and Valkor provided engineering and operating services. I doubt this arrangement will work for the 5k plant from Tomco's perspective (too much financial risk). Many people on this board are confident with Valkor yet it is very difficult to find out much about them. Their website is out of date as far as this project is concerned, and there is nothing in terms of cash value of the current projects they have or are undertaking. Since you are new to this board might I suggest that you look deeper into Valkor, even email them. Be prepared to be sledged here though if you say anything against Valkor lol.
Finally TOM will be having its AGM in London next month. It would be great if someone can attend and seek assurances from the Tomco BOD of their total support for Valkor, that would put this issue to bed.
We all await a positive due diligence report on the Utah oil sands in question together with the intent to purchase. As @Oilbethere has stated (as well as myself) that will be the next step for funding options to be developed.
Good luck, do your own research (DYOR) and be weary of posters on this board who state things without foundation. There are some decent people on here but plenty of thorns around the roses. ATB Minimil.