Tomco Energy Share Discussion Threads

[fenners66] 25/4/2023 11:11

TD - the answer may well be linked to the question , why pay Valkor $250k when they agreed already to defer the repayment.... ?

[vauch] 25/4/2023 09:56

Goulding, unfortunately we wont ever know as we are shareholders and as such don't need to be told what is going on.
I hope we gat an EGM before next AGM but that is getting closer to crossing over.

[thesageofsaint] 25/4/2023 09:41

Was that a spelling mistake? Did you mean exited? Looks like the rest of your buddies don't appreciate your frustration at being duped. They don't want errant sheep to break free of the flock. They need you back in the pen bleating the same self reassuring baa baa. Hopefully we will test and drop through previous lows. The only variable left until the finale is time. Inexorable and no hyperbolic hallucinations will help you. Hopefully we will see 0.25p this week. The loan will be converted below 0.2p and yet more share will have been dumped on top of your existing holdings. Remember in 2018 there were 25 mil shares now just 5 years later there are 100 times as many.

[the diddymen] 25/4/2023 09:41

6.8% of the way to filling the first tranche. This will need more news and cross fingers and hope that shareholders do not start selling.

#intomwetrust

[goulding1215] 25/4/2023 08:38

I wonder if the 5 wise men are waiting for mining permits final approval?

[the diddymen] 25/4/2023 08:20

Covered by £750k and/or a committed facility.

Why draw down early and incur unnecessary interest charges?

[vauch] 25/4/2023 07:58

It is near time to get excited.
Summer is on its way and the Ducati is on the road.

[fenners66] 25/4/2023 07:52

"The Group's policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities when they become due. To achieve this aim, it seeks to maintain cash balances (or agreed facilities) to meet expected requirements for a period of at least 90 days"

[the diddymen] 25/4/2023 07:20

kemche - and the volumes were negligible. They will need to shake a lot harder - 0.002p for the cheap as chips brigade?

[fenners66] 24/4/2023 22:59

TD - I was going to take a look at the cash flow and see if I could project it - but I have not done so, so far.

However I guess your projections included the idea that Valkor was not going to be paid any more , as it is supposedly postponed until financing had been arranged - BUT since that missive was issued by RNS from TOM,
we learn that TOM has in fact paid another $250k back to Valkor as per footnote to the accounts.

Since that payment has not been explained at all , we can only speculate what went on....
perhaps it was something like..

V - we know we are getting a great monthly interest payment from you , but we could do with the capital.
T - But if we show a commitment to repay , we may be killing the golden goose as it would demonstrate a cash flow need to the auditors we may not be able to give them confidence in...
V - ok so we agree to technically defer payment but TOM can "choose" to pay us off some in instalments say whenever you raise funds
T - so we can "choose" to repay when we get some cash
V - yes if you "choose" to repay earlier than when you get the full finance package - we get some back before hell freezes over....

[kemche] 24/4/2023 21:27

Classic tree shake to let rmart in on the cheap.

[the diddymen] 24/4/2023 20:34

Fenners what puzzled me is that the 'reverse engineering' of the cash flow says that they have more than enough cash at the moment and did not need to draw down until the end of June.

The question is why? If the awaited funding is imminent, then they did not need to raise the cash, because it is part of the funding. The draw down indicates that there is nothing to report on that front.

The loan is committed, therefore why draw it down before it is needed?

The only scenario that appears rational is that Novum are driving the timing of the draw downs but that hardly sits with the statement: "The Company has, at its sole election, an option to draw down one or more of the GBP250,000 tranches on or before 31 March 2024".

I suspect that Novum will need to use all its ingenuity to offload the shares back onto the long suffering shareholders.

[fenners66] 24/4/2023 13:23

The Novum Securities stock someone asked me to look at last year ....
the one which I realised also had the same fundraiser , which made me check out their clients performance over
the last 6 months or so....

Is down again and now is down about 90% since I was asked to take a look at it.

I did say at that time I would not touch it with someone else's bargepole but what anyone else does is up to them....

Not a negative opinion - just realistic.

Maybe I have had TOMCO wrong all these years ...

But add it to the list of investments I have declined and check out their performance.
Tells me all I need to know.

[vauch] 24/4/2023 10:37

goulding you do know that the time line will be extended yet again.

[fenners66] 24/4/2023 09:44

haggis from "99.9%" certain to "can but hope" in just a few weeks...

[goulding1215] 24/4/2023 09:22

Yes Haggis, more like it. I don’t know why Vauch doesn’t go and post on the other board. Never a positive word on this board.

[gjabrj] 24/4/2023 09:04

More like additional security 😂😂

[vauch] 24/4/2023 09:02

Maybe the money is needed for EGM coffee & biscuits

[rmart] 24/4/2023 08:57

Conversion price 0.27?, may be able to buy just under 0.30 if they are 10%ers just flipping them.

[the diddymen] 24/4/2023 08:15

Biscuit tin Vauch!

[the diddymen] 24/4/2023 08:13

The second dictum of narrative companies is 'always delay bad news as long as possible'. The rollover will be announced on 2 May.

[vauch] 24/4/2023 08:02

Yep as expected.
And with this lot I can see all 4 will be drawn down over time.
Wage pot must be getting low.