Tomco Energy Share Discussion Threads

[ajj2003] 20/8/2021 17:33

Purely from a negotiation position, you would never agree to pay the 10% before having a cast iron guarantee on the remaining 90%.

If you did not then the company could be held to ransom by any party willing to provide the 90%, at a huge premium of course.

Page 1 of the negotiating handbook

[ducky fuzz] 20/8/2021 17:26

Hi damac .. so you think that if Greenfield cough up the cash then the
110 million dollars loan is nailed on.

Would the two events be announced together. DF

[damac] 20/8/2021 17:19

Ducky,

As I have alluded to before…. If you were in charge of Greenfield would you buy the first 10% of the Tar Sands II site (paying $1.8m) without having reached an agreement in principle with lenders of the $110m for the plant?

Perhaps, due diligence is finished in relation to the Tar Sands II site? Perhaps they have been waiting on the agreement in principle for the $110m plant funding before taking the plunge and buying the first 10% of Tar Sands II?

[damac] 20/8/2021 17:07

Vauch,

I assume you are talking about PQE in your last post, yes?

[goulding1215] 20/8/2021 16:05

The finance is unlikely to be signed until DD is finalised on the lease.

[vauch] 20/8/2021 15:54

cool cant have another co using it can we Wilson

[wilson2] 20/8/2021 15:30

The plant is getting demolished

[vauch] 20/8/2021 15:25

As the plant is up and running, they may be showing it of for plant finance

[ducky fuzz] 20/8/2021 15:07

Hi damac .. I wasn't saying that the RNS was late .. I just wondered why there
has been so much time between Greenfield finding the site and paying for it.

After all they have the cash required.

Interesting that John is in Utah. Has to be a reason why he is going. DF

[damac] 20/8/2021 14:43

Ducky, what ‘delay’ is it that you mention? The RNS states that the initial 10% of the Tar Sands II has to be purchased by the 1st September. We are still in August are we not?

John Potter is in Utah, he arrived on Monday. What would be so important for him to go out to Utah for a couple of weeks and then return to the U.K. for the AGM on 8th September, why couldn’t he have waited to go back out after the AGM? …….. join the dots.

As always, do your own research.

[the diddymen] 20/8/2021 14:38

Lopo, re Reichsmart posting, 6 August since he last posted. Probably does add credibility to the idea that there will be another placing. As ever there needs to be a willing investor, and it is far from clear what they would be investing in. Wheels about to fall off?

[busamitch] 20/8/2021 14:08

Management is working with the Ontario Securities Commission in respect of revocation of the Cease Trade Order and the TSX Venture Exchange in respect of reinstatement of trading. The Company will update the market with details and timing at its earliest convenience.

The Company has experienced no operational constraints during this restatement period and all operational activity has proceeded without affect.

Dr. R.G. Bailey, Chief Executive Officer, commented, "As promised, our CFO and auditors, Hay & Watson, have worked tirelessly to complete the necessary work and shareholders should be assured that conditions have normalized."

[shaunx] 20/8/2021 12:39

Why do all you XR freaks spend so much time wetting your pants on oil stocks? Shouldn't you be tending to your Dope crop and wife's hairy legs.

[lopodop] 20/8/2021 12:23

Well done DF - it's coming up roses. One question does Potter know he's popping over for the sign off, do Groach and Castro know about this. No need for RNS! Great start to weekend.

[goulding1215] 20/8/2021 12:08

Finance will only be signed when due diligence is complete.

[ducky fuzz] 20/8/2021 11:57

Only 6 trading days left this month .. So I think we'll get a significant RNS during
this period.

Will John Potter have to go to Utah for the signing.

I can't quite understand why there has been this delay in signing the land purchase.

Hasn't due diligence been done. DF

[lopodop] 20/8/2021 11:52

VAUCH
Perhaps you are unwilling to accept that the situation is serious. Investors' hard earned savings are at serious risk because of the uncertainty and doubt about the JV SOCALLED and TOM's exposure to potential losses.
How do you think the situation will be next week?
What could possibly have been / be going wrong?
No information / delayed information usually bodes bad news!

[vauch] 20/8/2021 11:33

Oh, have you been sectioned then?

[wilson2] 20/8/2021 11:23

Trying to save you vauch!

[vauch] 20/8/2021 11:10

Ah Wilson are you still griping on about tom

[lopodop] 20/8/2021 10:43

What about the NOMAD - is that firm monitoring the position or are they on holiday?

[wilson2] 20/8/2021 08:45

No one has any confidence in Tomco they now can see they've given enough for nothing in return, whilst the directors take and take, not once has tomco ever returned an income on their so called pie in the sky ideas , the directors are thieves

[lopodop] 20/8/2021 08:30

Shaunx
How do you know TOM is solvent. The accounts reflect the position 6 months ago. Do you know the JV funding is in place? Does the market? Have you any more positive rubbish to disgorge?

PS The board love gullible investors, you may be invited to join board as special adviser!

[lopodop] 20/8/2021 08:20

Wilson 2
IS this Reform Energy Plc ICVL all over again?

[shaunx] 20/8/2021 08:19

No they don't, the company is solvent from accounts. Greenfield JV funding will cover purchase and upgrade of an existing oil producing site. It will also pay back a loan to Tomco.