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It worries me that they are diluting shareholders when they have a circa $10m debtor owing from the Chinese which had been agreed by the courts but nothing has been received - this represents a significant portion of the current MCap and yet the company says little to nothing about this. If the money does come in then IMO the shares are cheap, but if not…..

Knowing our luck it will be for a placing- I wonder how much of the initial payment is left? Hope I’m wrong, but how bitter and pessimistic have I become?

Blimey, they did 3 placings on consecutive days at 0.03p at the beginning of October and only 7 weeks later (with no more news in the meantime) a placing now at nearly half that price. I mean, there’s no subtlety and no shame - I don’t know how anyone can defend this.

Probably right, but the exclusivity period has only about 4-5 weeks left to run so even a vague update as to progress would be welcome.

Both Peel Hunt and Premier Miton have participated in the recent placings so their support is ongoing and hopefully the current state of affairs is a temporary blip

They raised £600,000 for their share of Allar 1 and Fouke 4 in August and then £500,000 2 weeks ago for Bitcoin Mining Strategy so they should have cash reserves of at least £700,000 so no further placing needed - what happens next will determine whether the strategy adopted by the company is successful or not. We are in limbo until Paul Welch tells us what’s next and that depends on whether or not he persuades the partner to drill Fouke 4 and possible Allar 1 sidetracks.

The price target of 0.06p was provided that Allar 1 and Fouke 4 are successful and was before the last 2 placings at 0.015p and (recently) at 0.017p. We really need Fouke 4 to be a success and hope the co-owner will permit the drill despite the failure of Allar 1. If we can’t drill then we’ve got more than £500,000 and maybe the best route to increasing production would be the purchase of an oil producer from a distressed seller.

He’s done a Stockbox interview too, give him credit, he’s not gone missing in action. A lot now riding on Fouke 4 (or whatever they decide to call it, hopefully not Allar 2). Gone from 10% down at the end of October to now 60% down following the 3.11 placing and today’s bad news - yikes!

I noticed on the slide of PW’s recent presentation there is a Capex cost for Bitcoin opportunity but this isn’t scheduled until February and I thought it was linked to Fouke 3 (Allan 1) and Fouke 4 being successful. If they are successful you would expect the SP to rise so that the next placing would be into that higher SP. So why do the fundraise now? Hopefully PW will answer this in his next Stockbox interview.

We already knew this before Monday news on the debt signing so this isn’t a new revelation.

Can’t buy or sell on AJ Bell

On YouTube, just posted.

Although the focus is naturally on the price of gold, copper is also vital commodity and it would be useful to know the production potential of TK in this regard. Where there’s gold there’s usually copper but the latter is rarely mentioned and shouldn’t be overlooked given the current worldwide supply shortage v demand.

What have we found out today that we didn’t already know and that is worse than what we knew yesterday that justifies a 20% drop in the SP? Just asking as I can’t see it in the RNS

They can use the monies raised via share warrants to fund bonuses, no placing necessary

Couldn’t buy £25 worth on AJ Bell - was a test buy.

Great post Laura, very informative.

Well if you believe this will fail there are other shares in the market you could invest in instead I suppose- just saying!

The interview was reassuring - he acknowledged the past re oil and gas but this company is now transitioning into the hydrogen space as is in essence a fresh start which has attracted new investors. We wait and see.

Had the 3 placings (Thursday, Friday & Monday) been done as one single placing I expect we’d be flying by now - tomorrow should be interesting, but hopefully not placing no 4