Post by
lifegoeson on Apr 09, 2022 12:00pm
Another solid week for TOC, more shareholders positioning.
I thought is was another solid week of trading for TOC, trading 195,700 shares and closing at $0.79, but more importantly in my opinion, TOC was well bid at $0.79 at the close, with people buying right up to the closing bell. This was the heighest volume in a long time with over 565,000 shares for the week at an average price of $0.786. Clearly some people are adjusting their risk, while others are accumulating a position for the longer term.
Not exactly sure what happened at the AGM yesterday, but over on CEO it sounded like things went well, apparently the Roger's Creek spinout was updated, with potentially a May-June timeline. TOC entered into an agreement whereby Tocvan is acquiring 100-per-cent interest in the Rogers Creek property in British Columbia from C3 Metals Inc. on September 30, 2021.
From Release, ..."... It is expected that the spinout will be structed as a plan of arrangement transaction under the Business Corporations Act (Alberta). Under the terms of the proposed plan of arrangement, Tocvan shareholders are to receive one common share of Cascade Copper for every six shares held of Tocvan. When and if approved, Tocvan will have no interest in the Rogers Creek property. ..."... This is exciting as Roger's Creek is a great property with over 5,000 meters of drilling. This would give shareholders of TOC holding 60,000 shares, 10,000 shares in Cascade Copper for FREE.... I always love free shares....!!!!
Currently TOC is pressing ahead with an aggressive drill program at Pilar with 6 holes at the laboratory, and great results on the first 3 holes. They released the first 3 holes, ....".... Drill hole JES-22-58 intersected 21.7 metres of 0.94 gram per tonne (g/t) gold (Au), including four metres of 4.3 g/t Au and seven g/t silver (Ag). JES-22-58 was a diamond drill hole to confirm host rock and structure from the local reverse circulation (RC) drill hole JES-20-36 which intersected 24.4 metres of 2.5 g/t Au and 73 g/t Ag, including a high-grade interval of 1.5 metres of 33.4 g/t Au and 1,090 g/t Ag.... "..... if i understand correctly, 0.41 g/t gold is economic grade in the Sonora area.
I also expect the drills to be turning in the fall for Picacho, and from the data sets published, this is a very significant property that many companies in the Sonora area would have loved to acquire. The beauty of Picacho is TOC can early 100% of the property fairly quickly. Tocvan only needs to make cash payments of $1,989,600 (U.S.) to the underlying concession owners (the Suarez brothers) over a five-year term to acquire 100-per-cent interest in the project.
There is a newly released interview, exciting if I might add, which I encourage everyone should listen to which is on StockPulse with Rob Goodman and Brodie. Great overview and really comes across as to the early stage potential and timelines for Pilar and Picacho.
https://www.stockpulse.com/MediaPlayer/324
I have also noticed numerous other Investor Relation pitches coming out from PowerPlay, Investment Pitch Video, Bob Moriarty, and others.... Also good presence on Twitter with now over 185 followers from only 20 followers just a few short months ago. Putting all of this in perspective, more and more are watching and following TOC. I am excited to see the next drill results, metallurgy, and drills turning on both Pilar and Picacho. With only 32M shares outstanding, cash in the bank, there is plenty of upside to do a higher financing and get some warrants exercised to put cash in the bank without impacting the fully diluted share position.