Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I can fully understand the frustration of being here for 2-3 years, but a lot of investors bought in with the news of the JV with Valkor to create Greenfield, as we all know Valkor is no longer a partner, but a major shareholder. Together they modified and improved the PQE POSP, to prove the possibility of building a 5-10k commercial plant.
We now have PQE about to be bought by Viston for around €420m, this should be completed by the 7 February. For a company like Viston to invest this amount of money, we are for sure going to see the first commercial plant built sooner rather than later.
There is now, more than ever going to be a lot of interest in this technology in UTAH and when you look at the licences that Tomco and Valkor hold, it’s going to get really interesting here, so definitely staying around for this one.
The Viston purchase of PQE is just the start of this journey, I’m sure Tomco will be looking closely at the way this develops. For this amount of investment from Viston, the first commercial plant should be built, we might also discover who is behind Viston, is it one of the big boys. AIM is high risk, but every now and again you find a little diamond in the mix, could that be Tomco, just a thought.
Totally agree Crownos, but what puzzles me is the Viston purchase of Petroteq, estimated
at around €420m. ( euros )
I realise that they will then have the licence and technology for them to build plants anywhere in the world and not just Utah, but it is still a massive amount of money to invest in something that has not yet been proven commercially yet.
Very much interested in Vistons plans for the future and how this will also help Tomco to move forward.
This was the statement from JP regarding the wells, so no explanation necessary as yet, but a tweet would be nice :)
We expect the permitting process for the production wells to be completed in Q1 2022, following the drilling of three exploration wells intended to occur in December 2021.
"Greenfield is currently focused on commercial negotiations with third parties in order to seek to secure the funding for its future plans, together with progressing the required permitting and other preparatory work. We look forward to providing further updates in due course."
This is all starting to look very promising
https://www.proactiveinvestors.co.uk/companies/news/926920/quadrise-shares-soar-as-utah-heavy-oil-trial-advances-926920.
Proactive Summary
Dramatic share price upside under a positive outcome for the oil production projects
These estimates compare to the current TomCo share price of 0.7p per share, implying 6.5x to 30x upside to the share price. We recognise that the market will apply a substantial discount until:
Permits and financing are finalised, which we expect in the next 3-6 months
Site work commences
Revenue commences
We argue that the current TomCo share price leaves dramatic upside potential under a positive outcome for the oil production projects.
Greenfield is engaged in ongoing discussions regarding funding options to potentially achieve the ultimate acquisition of 100% of the Membership Interests, together with the drilling of a number of production oil wells and the planned first 5,000 barrels of oil per day production plant, whilst progressing other preparatory work.
The offer is probably too low IMO, but any Company willing to buy this tech for over $200m must know that there is a bright future, that suggests to me that It would assist Tomco with regards to finance for the new Plant, assuming they manage to obtain the finance for the new land deal, likewise, if Tomco were able to secure finance before PQE make there decision, it would be a strong negotiation tool for them.
If you haven’t already seen the video, have a look at the infrastructure of the proposed site, lots of work to refurbish and modify, but I would have thought most of the existing equipment will be reusable.
https://www.youtube.com/channel/UCoGwWrRC3hEtPPnEdqbC9bw