Tomco Energy Share Discussion Threads

[janyboy9] 09/3/2012 11:56

......... DUE A DROP I THINK ................ free stock charts from uk.advfn.com

[brabazon3] 09/3/2012 11:50

Kenglo One Limited / Baccata Trustees Limited - Report RE purchase of common shares and warrants of Galantas Gold Corporation /CNW/ - On June 8, 2010 Kenglo One Limited (Kenglo), Third Floor, Conway House, 7-9 Conway Street, St. Helier, Jersey, JE2 3NT, acquired 21,000,000 units (each a Unit) of Galantas Gold Corporation (Galantas) from treasury at a price of $0.05 per Unit (the Acquisition). Each Unit consisted of one common share in the capital of Galantas (each a Galantas Share) and one common share purchase warrant of Galantas (each a Galantas Warrant). Each Galantas Warrant is exercisable into one Galantas Share upon payment of an exercise price of $0.10 per Galantas Share at anytime until June 8, 2012. Kenglo is wholly-owned by Benbrackk Charkit Limited (Holdco), which is wholly-owned by the BBCK Settlement Trust (the Trust), the trustee of which is Baccata Trustees Limited (the Trustee), which has control or direction over the Trust. The address of Trustee is as above. The beneficiaries of the Trust are Christopher Brown, his issue and his remoter issue. As a result of the Acquisition and assuming the exercise of the Galantas Warrants, Kenglo acquired the right to exercise control or direction over 42,000,000 Galantas Shares, being 18.10% of the issued and outstanding Galantas Shares as at June 8, 2010 and being the only securities of Galantas owned or controlled by Kenglo. The Acquisition formed part of a larger offering of up to 50,000,000 Units of Galantas (the Offering). The first tranche of the Offering closed on June 8, 2010, pursuant to which Kenglo was the sole investor. It is expected that the second tranche of the Offering will occur following receipt of shareholder approval at a special meeting of the shareholders of Galantas to be called for the purpose of approving the Offering. If Galantas proceeds with the second tranche of the Offering, Kenglo intends to acquire an additional 24,550,000 Units from Galantas, however, has not signed an agreement with Galantas committing to the purchase. Kenglo may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over Galantas Shares or other securities of Galantas through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. ................... "Kenglo is wholly-owned by Benbrackk Charkit Limited (Holdco), which is wholly-owned by the BBCK Settlement Trust (the Trust), the trustee of which is Baccata Trustees Limited (the Trustee), which has control or direction over the Trust. The address of Trustee is as above. The beneficiaries of the Trust are Christopher Brown, his issue and his remoter issue. Kenglo may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over Galantas Shares or other securities of Galantas through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise" ,,,,,,,,,,,,,,, Kenlo can do more or less what they want with TOM. As a private company they can do what they like with the shares including short TOM. With this lot on board and DOUGIE also a major, heaven help the poor old PI with his/her pension pot invested in this menagerie is all I can say!

[brabazon3] 09/3/2012 11:41

Kenglo One invests £1.35m in TomCo 14 December 2009 @ 03:52 pm BST Kenglo One is investing £1.35m in TomCo through the subscription of 200m shares at an average price of 0.676p apiece. Kenglo One has also agreed, subject to certain conditions, to subscribe for £2m of additional shares at an early date at 1.5p per share and to underwrite at 3p per share a further placing of shares to raise £2m when TomCo returns to AIM. TomCo said John Ryan, Howard Crosby and Gerard Thompson have resigned from the board while Stephen Komlosy had stepped down from the post of chairman and had been appointed chief executive. Kenglo One has the right to appoint a new non-executive chairman. Komlosy said: "We are extremely pleased with this arrangement with Kenglo One Ltd which will form the basis of our overall financing strategy and offers TomCo the opportunity to return to AIM and to focus on the early development of its extensive oil interests." ................................ Kenglo One Wholly-owned by Braccata Trustees Ltd, a financial services provider based in the tax haven of Jersey, Kenglo One has "extensive interests in the global mining industry" [MJ 7 October 2011]. In 2010 it put £1.9 million into Conroy Diamonds and Gold to support its Clontibret gold prospect in Ireland [GrowthInvestor 22 April 2010]; and acquired 9% of Scotgold Resources Ltd (active in the Grampian mountains area of Scotland). In December 2009, it issued a US$5 million promissory note to Witts Basin Precious Minerals Inc (active in South Africa). In October 2011, Kenglo raised its holding in TomCo Energy plc (exploring for shale gas in Utah) to 34.95% [Oil Voice, 20 October 2011]. Kenglo also also owns 19.3% of AIM and TSX-listed Galantas Gold Corp, with an option to increases its share to32.4%. Galantas has rights to the Omagh gold mine in northern Ireland which was previously in the fiefdom of Rio Tinto [MJ 7 October 2011]. Resistance to this mine - both locally and nationally - became intense during the nineteen eighties, almost certainly contributing to the London mining giant's decision to sell it in 1990 [1]

[fumanchuchu] 09/3/2012 10:53

Here's the scenario of what I think has really happened. This is on par with Petrel and Horgan doing the constant sales pitch of getting big oil field contracts in Iraq. SK did just that and sold this mighty pipe dream to investors about their Utah acreages and how this pioneering process will result in monetising of these acreages in such a short period of time. Shareholders fell for it, including the soon to be signficant holders. One has to remember all the rose tinted emails SK replied to holders before Nov and after... how they would be releasing significant RNSs soon.... one followed by another. Very familair to Horgan ... same fanciful outlooks.... but devoid of realism. Shareholders on the rose tinted board fell for it.. hook, line and sinker. Well CB & co have realised everything is not materialising as according to the pitch that SK had sold them... and with SK paying himself >£120k in salary, they were left wondering WTF has tangibly progressed since floatation.... and where's all the good news that was going to hit the screen late last year and early this year. So IMO SK got the chop as things are not panning out to expectations and timelines are not going to plan.

[fumanchuchu] 09/3/2012 10:25

devon... LOOK at the accounts released yesterday you twit. It says they have enough money for the next 12 months from the date the accounts were signed off. Hence that includes ALL the money they have now, including the GEM conversions. By financial year end THIS year.... they wont have enough working capital for the NEXT 12 months (2012/2013) - so they will HAVE to raise more money in order for the auditors to sign off the accounts for the year ended Sept 30th 2012. Get it fool ?

[cuthbert cuthbertson senior] 09/3/2012 10:22

Does this mean skiboy 10 will resign too?

[devon12] 09/3/2012 10:12

FUMANCHUCHU - you are so thick its laughable - how much did they get from GEM and which years accounts will it show up in? But ofcourse you know that but it doesnt suit your story - peopel are never as suopuid as you think. But you thinking they are makes you more stupid. time for filter number 3

[27howard] 09/3/2012 10:03

gb234 Yes his threads do not show now, i mean how many does he need on Tom ?

[fumanchuchu] 09/3/2012 10:03

Here's one fact. They will HAVE to raise more money by September 30th this year. That is the financial year end. The auditors will need to be satisfied that they have enough working capital for the NEXT 12 months for them to sign the accounts for the company as a going concern. Much more dilution on the way this year.

[fumanchuchu] 09/3/2012 10:00

Where were the results signed off by the auditors ? It states that they have 12 months of working capital left from the date the auditors signed off the accounts.

[gb234] 09/3/2012 09:40

27howard post 7052,you do know that if you filter someone you cannot use their threads.

[canford cl1ffs] 09/3/2012 09:36

brabazon, the one thing that will prevent that scenario is that CB is not on the PAYROLL, so will not let others use his considerable investment for their benefit in salaries and fees, imho! I imagine he will push things forward now at a rate of knots............

[brabazon3] 09/3/2012 09:21

From yesterday's AR statement:_ The Group has consistently applied all applicable accounting standards. The Directors are confident that the Group has sufficient funds to meet its working capital requirements and commitments for a period of not less than twelve months from the date of signing of these financial statements. The Group's working capital and commitments are closely monitored by the directors and monthly forecasts are prepared in order to ensure that the Group has cash available to meet planned development expenditure. There are no contractual commitments for minimum development spend within any of the Group's licences and therefore the pace of development of the asset can be adjusted within the availability of cash resources to contract with the relevant consultants. As a result of the review performed by the directors, the monitoring of the cash position and the forecast cash at the end of the twelve month period under review from the date of signing the directors have confirmed that it is appropriate for the financial statements to be prepared on the going concern basis. ............................... "There are no contractual commitments for minimum development spend within any of the Group's licences and therefore the pace of development of the asset can be adjusted within the availability of cash resources to contract with the relevant consultants" In layman's terms that means the BOD need do sod all for the next twelve months as they have no minimum commitment to deliver on! What a scam! They can sit back for another 12 months and draw their fat fees for twiddling their thumbs if they so choose!! Unbelievable!!!

[cuthbert cuthbertson senior] 09/3/2012 09:08

What do they care? like Komloser said for the last 5 years it was his baby and cash cow. I wonder if he has resigned from his other quoted company, methinks no, he took a step too far.

[brabazon3] 09/3/2012 08:57

Red Leaf JV and permits not mentioned in the AR statement so we can assume it is stalemate on that front too! Still can't get over those BODs have paid themselves nearly £500k in fees for the last financial year which is about 25% of the net value of the cash raised in last year's fund raising! If they are paying themselves the same amount this year there will be sod all cash left for the projects they have supposedly lined up going forward!

[cuthbert cuthbertson senior] 09/3/2012 08:07

Only 1 trade after 10 minutes!

[cuthbert cuthbertson senior] 09/3/2012 07:59

Rmart your quiet this morning!

[cuthbert cuthbertson senior] 09/3/2012 07:54

wILL TOMCO BECOME LIKE TESCO? price drop!!!!

[cuthbert cuthbertson senior] 09/3/2012 07:52

And where is the second RNS?

[brabazon3] 09/3/2012 07:33

Skiboy10 - 9 Mar'12 - 00:26 - 21993 of 21994 As has been mentioned before it was always likely that Stephen was going to retire soon and I guess that now is a good a time as any with the results out today. ........................... Where has it been mentioned before - and by whom? Show one example where the company said he was was going to retire 'soon'! Another pile of false rumour mongering lying nonsense if I may say so!

[brabazon3] 09/3/2012 07:29

Just had a reply from SK......I sent him our good wishes & thanked him for his efforts. Dear Hatto Thank you for your very kind thoughts. It is a sad day for me as TomCo has been my baby for the last 5 years. In future your queries should go to Miikka at [e-mail] Kind Regards Stephen A Komlosy .................... Don't sound like the thoughts of a man who left to enjoy his retirement! Why would it be a 'sad day' if he left of his own accord? Normally a retirement at this level is announced well in advance and a replscement found before he would finally step down. Looka like he got his marching orders in a hurry imo.

[brabazon3] 09/3/2012 07:28

Snidy skiboy trying to bury the real posters who tell it the way it is as usual! Wasting your time pal! Face facts for once - Stephen was unceremoniously dumped in double quick time for what ever reason. Normally a CEO will announce his departure months in advance and a new CEO will be on standby to take over the reins. This was not the case here. Two cases of not reporting to the market misdemeanors in his CV may well have been the cause of his departure, we shall see! Skiboy10 - 9 Mar'12 - 00:26 - 21993 of 21994 As has been mentioned before it was always likely that Stephen was going to retire soon and I guess that now is a good a time as any with the results out today. Chris Brown and the Altima boys are now fully in charge as SK as many of you will be aware was the the last of the old team that floated TOM back in 2007. My guess is that as TOM get closer to production then they will hire a North American mining engineer but if as seems increasingly likely that TOM will get taken out then why bother? One less salary and a Board of 3 will be enough. Two Chris Brown appointeees and one Altima appointee. I think that corporate activity is now much more likely as TOM are very much in play.