Tomagold - Past, Present and FuturePast – over the last seven years we have witnessed poor decisions, bad deals and a high cash burn rate with very limited exploration and a significant loss of shareholder value. This has been reflected by the market over this period, with the stock dropping from the low $0.30s in 2013 to an all time low of $0.035 years later. Finally closing at $0.05 when we halted. Basically, a drop of well over 80% in value. So any criticism of management and the past BOD is very warranted IMO.
Present – first, we are all very lucky that the world changed during our extended halt and the POG now sits at $1900+. However, I’m happy to have some luck finally come our way. Second, with a new BOD, the Iamgold deal and the cash available for exploration, and a two property drilling plan, there are many encouraging factors in place that could finally see Tomagold move in a much better direction.
Future – For all the “bashers” and “cheerleaders” out there, what would you consider a successful next 6 months and 1 year – the benchmark being our market cap? For me, I’ll be disappointed if we do not hit a market cap of $35 million within 6 months, and $60+ million within the year. Given how undervalued we are, the current POG, and with 2 drilling programs in place and some decent results, this number should be very achievable. Now what do you need to see? How will you judge the success or failure of this new team over the next year? Target numbers required.