Tomco Energy Share Discussion Threads

[jaynealex] 10/9/2021 07:58

Ducky please tell me you weren't the Treasurer !! Or the Happy Hooker !!

[hotfinance14] 10/9/2021 07:45

My guess would be about 25 attended.

[ducky fuzz] 10/9/2021 07:26

I've attended a few Rugby Club AGM's and there would be about 60 there .. can't be much different can it. DF

[hotfinance14] 10/9/2021 07:18

Damac...how many attended the AGM ?

[damac] 09/9/2021 22:14

Of course Stuart, it is always entirely possible that there is no significant re-rate in the share price or that warrant holders will take them up as hoped and because of that there is always the chance of the placing in Tomco a for small amount of working capital taking place.

[lopodop] 09/9/2021 20:58

To breathe properly, TOM needs to have a minimum of £3million cash reserves bearing in mind no income for how many years? This helps to give financial credibility which it does not possess at present.
What else is there other than a placing which the Board and investors fear. They are hiding from their duties as directors; when it happens as it will any time very soon, it will carry a shockwave.

[lopodop] 09/9/2021 20:29

DAMAC
The market may need serious persuading over pivotal points. It's a spin and the BOARD may face serious challenges.

[stuart little] 09/9/2021 20:22

Yes Damac i clearly understand the points you make and where tom are with the land deal. I spoke (via message) with another AGM attendee today. Just offering Sagey some slack. I'll stick with my assumption of a small working cap raise later in the year though, which I am fine with. I'll not take warrants money for granted. The board can't fully control such things, even if they get the price above warrant price.

[vauch] 09/9/2021 20:16

DF next years AGM will be champas and caviar

[ducky fuzz] 09/9/2021 20:10

Brilliant thanks damac .. were there many at the AGM .. I guessed at 50 but am probably way out. Were there sandwiches ..DF

[damac] 09/9/2021 20:05

Stuart,

I know you know, but i'll reiterate it for those that still cannot grasp reality. If the purchase of the initial 10% land deal is again delayed beyond the 1st of October it will be because the final elements of critical due diligence have still not been completed. It will not be because of a lack of money to make the 10% purchase, the company cannot be any clearer on this, they have openly stated at the AGM that at present, no placing is required for this purpose.

As for any potential future placing in Tomco to a raise a small amount of working capital (for Tomco, not Greenfield), you correctly point out that this possibility has been discussed on here by many of us for a large portion of this year so far. On speaking to the Tomco board yesterday they remain very hopeful that this small placing may not actually be required at all, their reasoning being that by the calendar year end...


They will have acquired the initial 10% of TS2 (still hopeful to be achieved by 1st October).

Having secured financial closure on the full funding required, the resources in the ground become bookable assets resulting in a significant re-rating of the MCAP.

Have off-take agreements in place for the sale of future oil & sand produced.


The board see these pivotal points as the catalyst that will result in a re-rate of the share price which in turn could see warrants being taken up that will bring cash into Tomco.

[lopodop] 09/9/2021 19:51

Understood SL. THIS MAKES A GREAT STORY AND YOU MAY SEE THE BOOK LOCALLY WHEN IT COMES OUT - 'oh dear Tom' By way all names etc changed viz S Large. Cannot finish it for reasons you possibly understand.

[stuart little] 09/9/2021 19:03

Loonytune, because you say it/think it does not make it fact. As you claim. They have over a million in the bank. There is no placing being worked, we were told that yesterday. Ok if they don't get $1.5m in a couple of weeks the land deal may need delaying. Again tomco is not skint. I believe funds will be made available in time. End of convo with you,

[lopodop] 09/9/2021 18:57

SL
DAMAC is good with cash flows - he'll work out some realistic figures for you and then you may understand the financial predicament. No self respecting chartered accountant would allow this state of affairs to exist and certainly not two. They know surely they are in a BM. WHAT ARE THE OPTIONS do nothing and slip out quietly to let JP deal with the situation. Do a placing for a big number VERY heavily discounted to persuade the Finance House to go along with it. Cancel the land deal for the moment and hope it can be entered into next year whilst undertaking a more conservative placing to get the ship back on course.
Whether you like it or not this fact, where TOM is NOW. Before you say any more it is not alarmism, just plain realism. Possibly TOM has / is already tapping some individual sources for cash. A placing however will announced in days or it will be too late!

[stuart little] 09/9/2021 18:36

I'd call it attempting to muddy the water. Enjoy your session.

[thesageofsaint] 09/9/2021 18:33

No worries. Glad I can colour the picture a little further.

[stuart little] 09/9/2021 18:31

You are logging onto whilst at the gym??? You have just reached new depths in your desperation for friends to chat to. Give me 10 burpees....

[lopodop] 09/9/2021 18:29

SL
TOM cannot be run on a just getting by footing. Most of you are possibly over invested. Be respectful and think about the cautions being given.

[thesageofsaint] 09/9/2021 18:28

You are disturbing my gym session, but I hate shoulders so it gives me an excuse to rest a little longer I suppose. That is the point. I believe they will not get funding for the land without using equity. If I am wrong I am wrong and will be very surprised. Simple as that. If they cannot get funding for the deposit and they are determined to pay the deposit by month end, then unless they raise funds they are insolvent. I think it is clear!!

[stuart little] 09/9/2021 18:26

Some spend all their time looking negatively backwards. Others have the ability to view the future/new project with positivity. We know which you are.

[stuart little] 09/9/2021 18:23

If you are unsure, as your mate is, just suggest (guess, throw in, make up) some 'one off payments' and 'advanced payments' with absolutely nothing to back it up. That should help argue away £1m.

[thesageofsaint] 09/9/2021 18:22

Yes it is for a business that has been trading for over a decade and has yet to deliver a cent in revenue let alone profit. Touché my friend. Dilution will be the death of all your investments, indeed they are dead already you just are sucking in the fumes of an empty tank. Nothing has changed. You are all talking the same jam tomorrow stories that litter the last 12 years of these threads. All washed out by dilution after dilution. You see, you are all disposables, mere chaff to the kernel which is the valuable listing TOM. But not ever to return value to investors, you are just its fodder, as it chomps through more trusted small minded FOMO types. Take a look back at this post in 2 years and then test whether I am still the moron you need me to be. Chin up!

[lopodop] 09/9/2021 18:20

SL
Have DAMAC work through the cash flow starting with your number £1.25m.
NO income, monthly recurring costs, one offs and consultants fees and advance payments etc. For how long can TOM survive? Leave aside the land funding business, there has to be an imminent placing; NOMAD will not let this go on for too long.
Any funder of the land will also be concerned about the cash inadequacy. It's crazy and don't forget there are hungry consultants coming out of the woodwork here and in UTAH. Give JP a call as you know him and put it to him there are serious issues.

[stuart little] 09/9/2021 18:19

Sagey, I'm sure you will agree that current bank balance is probably in excess of £1m. How much we aren't sure. Therefore, should they fully fund the 10% from elsewhere thus preserving working cap you will agree that there simply is no panic. I'm not sure how any of you lot can currently label tomco teetering on being insolvent.