Post by
lifegoeson on Aug 05, 2023 11:32am
The quiet days of Summer Continue.
Tocvan closed on Friday at $0.485 on only 22,900 shares, but overall had a very strong week trading 486,000 shares. The share price continues to consolidate during the quiet days of summer, with long-term shareholders picking up the loose stock from those moving on and not willing to wait, as well new shareholders are beginning to find out about the potential future value of Tocvan as Pilar is taken to production.
The Canadian markets are closed Monday leading to a short trading week. One of my trading strategies during the summer is to not get tricked into selling because of the low volume and generally downward price movements, but rather use this as an opportunity to add to my positions. Not only are investors on vacation, but more importantly, the traders and Market Makers are also on vacation, the end result is reduced volumes overall and downward drift in price, but this generally corrects itself in September.
The fundamentals of Tocvan have never been stronger. I am excited to see Tocvan conclude the consolidation of the massive land mass around Pilar, ultimately turning Pilar into one of the premier gold and silver plays in the area. This acquisition will undoubtedly lead to the discovery of more gold and silver since the new property has been actively and successfully worked by placer miners who exploit alluvial gold washed into old stream beds from the surrounding mountains.
Pilar, as well as this new land acquisition, have had significant previous gold and silver mining. For example, several new mines have been discovered during trenching for the bulk sample, thus making these areas excellent drill targets.
What's next....? Here are just a few of the exciting things going on.
1)Results from the 800 ton heap leach bulk sample.
Finish due diligence and complete land acquisition.
Start drilling at Pilar and El Picacho.
Progress towards compiling a maiden resource estimate for Pilar.
Preparing application for production permit.
Systematic exploration of the new property to allow for increased gold and silver reserves.