TCH Repositioning Like Mill City, 26-BaggerTCH announced last month that it is re-positioning itself:
"2:15 AM EDT March 14, 2014
Touchstone Announces Subscription - Marketwired
... LONDON, UNITED KINGDOM--(Marketwired - March 14, 2014) - Touchstone Gold Limited ("Touchstone" or the "Company") (AIM:TGL)(TSX:TCH) is pleased to announce that the Company has raised £100,000 through the subscription for 19,916,351 new ordinary shares of no par value each in the Company (the "Subscription Shares") at a price of 0.5021 pence per Subscription Share (the "Subscription Price") by new investors (the "Subscription"). The net proceeds of the Subscription will provide working capital to further enable the company to re-position itself whilst it considers new opportunities. … "
https://web.tmxmoney.com/article.php?newsid=66407788&qm_symbol=TCH
This is a sign that TCH may be selling its Segovia gold project, and acquiring a different project or project(s).
Perhaps even the oil & gas properties that Ilyas Khan's Mentum was recently pursuing, before arranging to acquire an Asian gold project.
And this draws comparison with Mill City Gold Corp.
Mill City Gold Corp (MC) on the Toronto Stock Exchange has risen over 26-fold in the last few months, from 2 cents to its current 53 cents ... and the similarities to the TCH story seem striking.
- Both gold explo minnows that fell about 99%, as investors dumped at the bottom.
- Both have raised similar amounts of money at or near the bottom.
- And both are in the process of repositioning themselves.
"Tuesday, November 12, 2013
12:27 PM ESTCORRECTION FROM SOURCE: Mill City Announces Closing of Private Placement - Marketwired
... MILL CITY GOLD CORP. ("Mill City" or the "Company") (TSX VENTURE:MC)(OTCBB:MCYGF)(FRANKFURT:NJ6) is pleased to announce that it has closed its previously announced non-brokered private placement of units (the "Offering"). The Company issued 10,000,000 units at a price of $0.02 per unit with each unit consisting of one common share (a "Share") and one transferable common share purchase warrant (a "Warrant"), raising gross proceeds of $200,000. Each Warrant entitles the holder thereof to purchase one additional Share for a period of 5 years at a price of $0.05 per Share for the first year and $0.10 per Share for the remaining four years. ... "
https://web.tmxmoney.com/article.php?newsid=63908585&qm_symbol=MC
"Monday, January 20, 2014
...11:49 AM ESTMill City Signs Letter of Intent to Acquire Significant Oil and Gas Interest - Marketwired"
https://web.tmxmoney.com/article.php?newsid=65183064&qm_symbol=MC
And not long after raising seed capital at 2 cents, MC announced a big placing at 50 cents, 25 times higher ... and with warrants at $2.50 -
"10:06 AM EST
February 18, 2014Mill City Announces US$40 Million Financing - Marketwired Mill City Announces US$40 Million Financing
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2014) - MILL CITY GOLD CORP. ("Mill City" and/or the "Company") (TSX VENTURE:MC)(OTCBB:MCYGF)(FRANKFURT:NJ6) announced today that it is undertaking a private placement (the "Offering") to raise up to US$40 million through the sale of up to 80 million units (the "Units") at a price of US$0.50 per Unit. Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each such whole warrant, a "Warrant"). Each Warrant will be exercisable to purchase one common share of the Company for a period of 1 year from closing at an exercise price of US$2.50 per share. ... "
https://web.tmxmoney.com/article.php?newsid=65819291&qm_symbol=MC
It's crazy to think that investors were selling MC for two cents just a few months ago, when they could have got so much more by waiting.
But that's penny mining sector stocks for you.
They do tend to grossly overshoot on the downside, falling to quite crazy lows.
A good RTO deal - which could be announced any day - could see TCH instantly ten-bag.
With great downside protection, that makes this, in my opinion, a quite stunning investment opportunity.