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Transatlantic Mining Corp V.TCO

Alternate Symbol(s):  TRRGF

Transatlantic Mining Corp. is a Canada-based precious and base metal explorer. The Company is engaged in the acquisition and exploration of mineral property interests, such as the Golden Jubilee and Miller Mine Gold Property and the Monitor Copper/Gold Property. It has property interests including an 80% joint venture position on the Monitor Copper-Gold project in Montana-Idaho and 100% of the Golden Jubilee Gold Project with its associated mining rights. The Company has an extended lease, right to mine and purchase arrangement for the Miller Gold Mine in Montana. The Golden Jubilee Property is located in Granite County, Montana, about 20 kilometers (km) from the township of Phillipsburg. The property lies on the famous Red Lion corridor. The Miller Mine Gold Property is located in Broadwater County, Montana, about 30 km from the township of Helena. The Monitor Project is located along the eastern extension of North Idaho’s Coeur dAlene Mining District.


TSXV:TCO - Post by User

Bullboard Posts
Post by SuneeDazeon Jul 18, 2019 11:39pm
92 Views
Post# 29937955

TCO DD

TCO DDLet me preface my comments by saying that I am still a shareholder of TCO, having originally bought in last March after results were released.  I sold some of those shares, then purchased some back at 0.09 as the sp receded.  I still have those shares.

If you are playing the momentum of this current run, then you can disregard this post because you probably don't care about fundamentals.  If you care about fundamentals but question my comments/numbers, they can all be verified in the last financials/MD&A for the period ending March 31 (released late May).

Financials

As of the end of March, the company had $63,457 cash on hand.
Their accounts payable were $3,813,581.

This doesn't include the liability of the US Grant Mine acquisition of $5,345,581.  They are in default of US $ 2,000,000 due on Grant.  The company has also not made all the required lease payments for the Kearsarge property (at release of financials) for 2018.

Miller Mine/Current Drill Program

It's important to note that TCO has no working interest in this property (0%).  Their current drilling is just part of their dd on the property.  Once results are released, it'll be interesting to see if they announce any jv or lease with the vendor.  Some on the board have been touting the 50 year old results.  If they can duplicate them, well they can say they duplicated some old results.  There is usually a reason why abandoned mines are abandoned though.

Past Drill Program / Kearsarge

Why look at the past?  Because it could very well be an indicator of the present and oh so close future.

In March, TCO released drill results from Kearsarge drilling (20 m of 8 g).  The stock ran from 0.025 to 0.16 in one day...sounding familiar?  Then it was pretty much a steady decline back to 0.02.  This short term rally on the back of this lone drill result (from another historic area) was diminished by steady insider sales of over 11,000,000 shares.

What was interesting was that this March 2019 nr was the first operational nr from the company since January 2017....over 1 year without any news.  One decent hole is released, get a great run up and 11,000,000 shares sold by insiders which dropped the stock almost as quickly as it rose.

I continue to watch closely and wish the best for all.  Nimble trading tendencies may definitely aid you if the stock acts like it has done in the past....but then again, who knows?

Have a good night!

Bullboard Posts