Tocvan Ventures Corp C.TOC

Great week, Tocvan raised capital and poured first Dore Bar

[lifegoeson]

Tocvan traded 207,000 shares for the week, closing at $0.445 on Friday. Nice sustained volume with most of the selling coming through Anon again. The month of November was another great consolidation period with 966,000 shares exchanging hands with the vast majority of the shares being sold through Anon (683,000 shares).

It is great to see the price of Tocvan locked in a very narrow range for the entire month of November and also nice to see a broad base of investors stepping up to buy the stock from Anon. Not sure who or where the stock is coming through Anon, but what I do know, at some point they will have sold everything, I have seen this in many companies many times before. This could be an old legacy shareholder simply exiting, or it could be selling from Germany where also a lot of the earlier money was raised. Either way, as Tocvan makes progress towards production, the extra shares will be absorbed by new, longer term investors.

FIRST, and this is a big FIRST, gold pushed near $2,100 USD per once. I am clearly bullish on gold since many of the traditional indicators of supply and demand are starting to become clear that gold could be in for a major upward move. Countries like India, Saudi Arabia, and many others are buying massive quantities of gold, although gold production hasn't kept up with demand. The impact of rising in gold prices will first trickle down into the majors and eventually the juniors. Companies like Tocvan are in a sweet spot as they put in place all the necessary steps to bringing Pilar into production.

Tocvan closed part of its financing for gross proceeds of $369,000. I don't know how many people have been involved in purchasing a Private Placement, but it generally takes time for documents to be signed and money to be transferred and recoded. I suspect the rest will close fairly soon.

Tocvan also put out a second news release this week that had some very exciting updates.

The most exciting is Tocvan Ventures Corp. has poured the first dore bar of gold and silver from bulk sample material processed at its Pilar gold-silver project in Sonora, Mexico. The bar weighs 1.487 kilograms in total, with assays from local certified laboratory LTM returning 18 per cent of gold and 69 per cent of silver. This is excellent for their small 700 tonne bulk heap sample. The remaining gold and silver will be processed shortly during the pouring of their second dore bar, the reason for this is gold is locked up within a carbon matrix used to extract gold during the heap leach process.

One thing is certain, there is a lot of gold present at the surface surrounding Pilar, making it an excellent candidate for an open pit mining operations, consistent with other operators in the area. Gold concentrations increase with depth, so the value proposition of an open pit mine becomes even more attractive.

I like the way Tocvan is proceeding to maximize gold recover at Pilar. An additional 700 tonnes of bulk sample material is available for follow-on testing of alternative recovery methods, including gravity with agitated leach. Preliminary agitated leach studies have shown rapid recovery of gold of up to 81 per cent (see news release dated Aug. 22, 2023). Gravity with later agitated leach studies have shown recoveries over 95 per cent for gold (see news release dated April 11, 2023).  Creating an efficient gold and silver recovery process for Pilar that optimizes extraction will create long-term value to shareholders. I am encouraged we are heading in the right direction.

Once they maximize the gold and silver recovery processes, we should be well underway to a permitted open pit mining operation.

Brodie Sutherland, CEO, best summarized the importance of these results:

"Recovering gold and silver is an important step towards full-scale production and the first of many ounces to be produced from Pilar," stated Brodie Sutherland, chief executive officer. "Pilar has returned high head grade, well above the average of open-pit mines in the region. The recoveries are also consistent with local operations, with the advantage at Pilar for even higher recovery through gravity and agitated leach methods. More gold and silver are yet to be extracted from the material in hand while we continue to advance our near-term permitting initiatives towards mine development."

I am extremely encouraged that Tocan has enter into an arrangement with the Howard Group as its capital market and corporate digital communications adviser. The Howard Group will direct both traditional and on-line initiatives with a special emphasis on connecting the company to retail investing communities and select members of numerous investment and institutional organizations.

Here is their web site, https://howardgroupinc.com/, well worth looking at who they are and how they can help companies. Here is a cut and paste of what they are about.

"..... Howard Group was founded in 1988, and provides Investor Relations Engagement Programs, Capital Markets Advisory, Corporate & Digital Communications services for emerging & established public and select private companies.

Our team of investor marketing specialists combine the best of digital media & traditional communication strategies to target and engage an informed investing audience.

We have successfully supported multiple client growth opportunities and financings over the past three decades.

The HOWARD GROUP has also invested in many client companies over the years...."

I think the Howard Group will be an exciting addition to Tocvan's team. I also think that Tocvan negotiated an excellent contract with them, $10,000 cash per month with stock options at $0.45. This will protect the floor price for Tocvan and provide incentive for them to get involved in a major way.

Tocvan is still extremely well structured with only 41.7 Million shares outstanding and have two excellent properties, Pilar and El Picacho, with Pilar advancing towards production.