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Lots of support for green energy in Utah
https://utahpolicy.com/news-release/64637-utah-clean-energy-on-senate-passage-of-the-inflation-reduction-act
Commenting, John Potter, CEO of TomCo, said: "The amount of local support we have received in advancing our project to date has been outstanding and I would like to thank everyone involved. We believe our proposed development project in Uintah County is based on an exceptional deposit with tremendous potential. We continue to make good progress with our plans for the TSHII site and continue to advance the previously announced due diligence exercise being undertaken by a potential financing party currently interested in backing our plans for Greenfield. We look forward to providing further updates in due course."
Dan Hemmert, the Utah Office of Economic Opportunity's Executive Director, commented: "We are excited to see Greenfield's growth plans in the Uintah Basin. Energy Independence has never been more important to the nation, and we are proud to support this venture which will provide significant investment into rural Utah. We are also pleased to see the planned application of innovative processes, aggressive carbon sequestration, and efforts to be carbon neutral - from well to tailpipe."
We are also advancing the previously announced due diligence exercise being undertaken by a potential financing party currently interested in backing our plans for Greenfield, together with other matters in relation to the TSHII site.
"The Company's Board has recently undertaken a site visit to Utah and met with the Valkor team and our sand off-take partner. Whilst in Salt Lake City the Board also met with the Company's local professional advisers and were able to view some of the cores recovered from the exploration wells, which are being stored at the Utah Geological Society's core store. We look forward to providing further updates in due course."
I’m thinking the delay in finance is related to the PQE takeover, with regards to reassuring the potential lenders that this technology is viable. If Viston are prepared to pay this kind of money for the PQE licence and technology, then Tomco’s future will start to look much brighter, with regards to obtaining the finance, I don’t think finding customers would be a problem.
So we are still in April and therefore still on target for securing financing lol :))
-Securing mixed financing, optimizing capital structure.
-Negotiation of financing terms
-Target completion date: April 2022
These are the dates on the Tomco website
Evaluation of costs and
risk profile -solution
economic performance
-Planned completion: February 2022
-Operational optimization
-Detailed design -Supplier
Identification -Target
Completion date: May 2022
-Securing mixed financing, optimizing capital structure.
-Negotiation of financing terms
-Target completion date: April 2022
-Ordering of long-life products
-Preparing the site of the plant
-Construction of the plant -Target
Completion: July 2023
-Evaluate performance and train personnel
-Commissioning of the plant and personnel
-Target completion: August 2023