RE:AGM and balance sheetWhat could strategic alternative be? My best guess is a reverse split- like 1 for 10, which raises price to 40 cents They said not happy with share price. They do not have money for buybacks. They cannot do an equity raise at 4 cents. They already have partners who have paid for private placements. It is too early for a sale of Toma. I think nothing else but an RS. At 1 for 10, you have 90% less shares.
After an RS, Toma sells stock at .30-.40 per share- dilution.
What happens to the share price after the RS and dilution absent any outstanding performance? The share price will likely fall back towards the 4 cents before the split- only now, you have 90% fewer shares.
For those reasons, I sold now to avoid a further drop in the price IF they announce an RS. It might drop 50% more.
I already considered TOGOF to be my weakest junior gold stock. I previously sold 56% for .0582 in June and the balance today.
For all who stay in, my best wishes