Tomco Energy Share Discussion Threads

[stuart little] 09/9/2021 18:07

12% up yesterday, 9% down today. That's AIM for you. Don't fret it.

[mwainw1973] 09/9/2021 18:04

9% drop in share price I would say something is shifting

[stuart little] 09/9/2021 18:02

Anyone feel goalposts shifting....:-)

[stuart little] 09/9/2021 17:59

I'm expecting a placing in December though. You have been using the word 'imminent' for some time!! Is end of year your definition of imminent?

[thesageofsaint] 09/9/2021 17:56

Ahh me and Stuey back on writing terms, I came over in a hot glow. No need to be rude though you will spoil the moment. I think you offer good odds. If there is no placing before Santa arrives and they find the land deposit, I will reluctantly have to leave this thread. However, I think you and I will be tolerating each other for a little longer than that.

[thesageofsaint] 09/9/2021 17:50

A grown adult blaming somebody else for losing their money because of ramblings on a BB. Come on, take some responsibility. You lost your money and nothing that is written on these silly threads has any impact on the intrinsic value of any business. If you think it does stop investing immediately as you are patently out of your depth.

[stuart little] 09/9/2021 17:49

So if they fund the land deal a different way and need no working cap until back end of year, thus proving you to be the buffoon you admit to being, I reckon there's no risk in you offering to pack your bags and leave this board to us numpties? Are you that confident Herbie? No? Thought not.

[thesageofsaint] 09/9/2021 17:43

I thought you had sent me to Coventry; your guilty little secret. Shame on you, thought you a self professed man of your word. Anyway, just to be clear, if the land deposit is found, there will be a related placing. Clear enough!

[stuart little] 09/9/2021 17:24

Most are aware there is a possibility of a working cap placing before year end. It's been said on here by many. They will have around £1.25m in bank now so if the land deal is funded elsewhere there is no short term panic. "They be a placing by the summer, they'll be a placing by month end, they'll be a placing by end of the year...." keep saying it and you will one day be right. You are right about one thing, buffoon!

[stuart little] 09/9/2021 17:17

This year, lol! A broken clock....

[thesageofsaint] 09/9/2021 17:15

What should have been asked: '... there's some div who thinks he knows it all, he even calls himself the Sage and he keeps on waffling on about a placing this year. Can you please show him to be the buffoon we all believe him to be and confirm there will be no placing this year. One response you would not have received is a categoric 'Yes'.

[thesageofsaint] 09/9/2021 17:12

Well done Damac. Throw in some underhanded balls and let them hit them out of the park. We all know a placing is in the pipeline. Whether they use the cash they have for the deposit or keep the cash as working capital and place to raise the deposit, it is as short as it is long. The nett effect is that they do not have the cash for both and they have no other route as no lender will lend for working capital on a business with no revenue and is technically insolvent without the funding. So we apparently know the narrative: '... we are please to announce the deposit has been paid from our cash accrual... we are all excited blah blah... to take forward this exciting blah blah, we are issuing 500,000,000 new shares at 0.35p to provide necessary funds for blah blah... can you see what it is yet??

[lopodop] 09/9/2021 16:24

Goulding1125
Had the Chairman's rallying cry to the investors have worked, he would have anticipated a rise in share price to 1p+ and gone for a placing this week for obvious reasons. With the current unstable price, he has now to work out how to play it so as to get the placing away without wrecking the price altogether. The longer this is left, the more vulnerable TOM becomes and it may cause investors to query a lack of savvy at senior Board level. This position is bad for all parties.

[hotfinance14] 09/9/2021 16:15

Goulding...the information was made available at the AGM for shareholders.It is not classed as material so no RNS etc etc.

[fenners66] 09/9/2021 16:05

jp - Just focus on the reported RNS's and follow them up, verify etc.
Since people believe this is verified information add that to the pile.
If you then think that it does not paint your investment in a good light you can reappraise.
I call it research.
Its how I decide whether something is worth investing in.
You will also be aware that where questions remain unanswered with many companies other large investors can come to the same conclusions.
What happens to any company's share price is a matter of supply and demand , period.

[ducky fuzz] 09/9/2021 15:42

Excellent report damac .. thank you for sharing it with us all.

My glass is now well over half full. DF

[lopodop] 09/9/2021 15:33

Goulding1125
Information gleaned at the AGM is now out of date. Do you not understand plans are updated each and every day? There has to be a placing very very soon - do the arithmetic and look at the ongoing solvency issues. Do not forget BOD's feed off the naive and TOM directors will relish your involvement and your vocabulary. Just watch out for placing hints.

[goulding1215] 09/9/2021 15:20

Damac, one request. Would it be practical to ask the company, to produce an rns, with all the points in your resume into an rns, none of it being really price-sensitive. However, it would up-date aLL share-holders on the positive direction forward as explained at the AGM. Or a press release, share prophets? Anything to bring it to the attention of all share-holders?

[goulding1215] 09/9/2021 14:30

Well, that is a comprehensive report from Damac to me, and as they say “we have a plan”.looks like some very professional people involved, and that it should all proceed smoothly from here for TOM/Greenfield. Gla

[jaynealex] 09/9/2021 14:17

Reference Damac's post ..

There was a bit of a discussion around the current MCAP. The general consensus was that once financial closure of the full finding is secured then the resources in the ground becomes bookable assets which should then see a re-rate in the MCAP. The only thing to be ironed out at that point is if they are P1 or P2 assets.

Once we have a value for resources in the ground ( after full finance secured ) we have a base value for the company

Irrespective of the Tom share price from day to day

This will set the base defence against any hostile bid

Add to this the multiple licence possibilities and the RF technology ...you start to get towards minimum company value ..divide by shares = full minimum share price

I will feel alot better when we have this valuation and it sits on the balance sheet and I'll stop stressing about early takeouts at a cheap.price

Further on in timeframe , once we build the first plant and get to 5000 bpd and start planning further plants ...the NPV of those future cash flows should far exceed those early balance sheet valuations ...

meaning as time goes by the possible share price gets higher and higher and again you have a base price you can use and share with shareholders to defend against low bids

Infact it's at that point , if the objective is to exit ...that you possibly put the company up for sale

Or you continue , producing oil , building more plants , building company share price and paying dividends

Both exciting possibilities

[damac] 09/9/2021 14:10

pyrite,

Other than giving approval to John Potter's comment that a report is expected from QFI by the end of September, he had no other involvement in proceedings.

I just assumed he was there as an interested party as it is very much in QFI's interest that Greenfield get up and running and from their perspective (QFI) hopefully using the QFI equipment on the future plant.

[damac] 09/9/2021 14:06

fenners,

Here is how i understand it, and obviously you or anyone else has the right to consider it differently.

The two reports being worked on (Mining Plan by Stantec and the Site Reserves Report by Netherland Sewell) that were mentioned in the 1st September RNS are the final two critical pieces of due diligence that would satisfy potential lenders. I believe (but don't quote me on this) that these items were identified by Zac Phillips in his role of Advisor/Consultant to Greenfield, as being needed to secure the funding, hence the one month delay in signing off on the initial 10% of Tar Sands II.

I further understand that whilst completing these final 2 pieces of critical due diligence will overall satisfy potential lenders and in turn give Greenfield the security/peace of mind to sign off on the 10% purchase, there will still be a period of 1 to 2 months where Greenfield have to tidy up/finish off some non-critical areas of due diligence for potential lenders to fully sign off at their end, hence the expected full finance closure of date of end of calendar year.

I also think it is safe to say that it would be wrong to only be looking at this as one potential lender financing everything. It is more likely to be case of several lenders contributing to the whole sum. Some lender funding the asset financing of plant equipment, some lender only providing finance against the site reserves etc. so all these things have to come together in the correct manner to achieve the whole.

On the subject of the Site Reserves Report, it was mentioned yesterday that this report could not be put together by a more credible and experienced outfit other than Netherland Sewell.

[fenners66] 09/9/2021 14:00

I added this to the other thread...

fenners66
9 Sep '21 - 13:15 - 22221 of 22227

Damac, thanks for adding your report

"4. When do you anticipate reaching financial closure on the required plant funding?

Response: Hopefully, by current calendar year end."

No one seems to be surprised by this.
All of the talk on here has been , get the funding in place , then commit to the land deposit etc.
Almost everyone has agreed that you would not pay the 10% without the financing.

However with "Hopefully, by current calendar year end." either the land is being paid before hand or the time limit runs out , hence the question what happens then?

I suspect that will now be a route to pay out $100k a month until "current calendar year end" or they write off the $300k , or they spend whatever they have on the "hope (fully)" that they get funding.

One question that was not specifically answered above , why the initial deposit and deadline?
Who else would be interested imminently in the land?
Petroteq arguably have as much a funding problem as Greenfield / TOM so I have not had an answer yet as to why.

[fishyneck] 09/9/2021 13:30

Vauch, once the AGM is over (the voting and AGM statements) the meeting is closed, it then becomes a more informal affair.

I too was a little surprised about Jason's attendance. However on reflection this project in Utah could be massive for QFI too so showing support to a partner is sensible. Either that or he had a meeting next door and an hour to kill.

fn.