Hard to believe TOC traded only 1,500 shares yesterday.Yesterday was a battle between the BULLS and the BEARS for TOC shares, or should I say the TURTLE and the TURTLE. TOC traded only 1,500 shares. I watched like a deer frozen in the headlights of a slow moving car. I (like other shareholders) didn't buy or sell because I am very happy with the progress Derek Wood is making on the corporate side of the company, i.e. financing at higher prices, keeping the share structure intact and informing shareholders, and with the progress that Brodie Sutherland is making on the mining side of the company by advancing and executing Pilar and now El Pichaco.
As I said in my previous posts, there are many potential positive things that can happen over the next several months. Lack of selling suggests experienced shareholders understand the potential share price based on current share structure (about 28M), the ability of management to raise money (both by strategic investments at higher prices and potential acceleration of warrants at $0.75), pending assays from Pilar Phase I drilling program, and soon the beginning of Phase II drilling and bulk sampling at Pilar, and let's not forget the strategic option agreement for El Picacho (which we will likely find more about in coming weeks and months.
In my opinion and experience, the price stability of a stock is generally determined by several key factors, 1) the number of shares outstanding (generally relates to price volatility), 2) the distribution of those shares to people who understand what is happening (an indication of how tightly the shares are held), 3) the potential of properties (early stage versus advanced stage), and lastly but not limited to, 4) the distribution and promotion of information to shareholders, i.e. in the case of TOC this means trading in Canada and Germany and hopefully a listing in the US soon.
Bottom line, am I excited, you bet....!!! I have been excited since my first purchase nearly 12 months ago below $0.20 (it has been 12 months of patience but a continual assessment of progress has made it much easier). Now that TOC is no longer a penny play and less influenced by traders and penny flippers, I am hoping that more positive news over the coming months will push the price higher (the next several weeks are less important in my opinion). I am trying to maintain perspective of how high the price can go over time if they execute according to their business plan, it is all a risk, but some risks are better than others.
Having said all of this, the stock market can be a very humbling experience when one looses a lot of money, always adjust you risk and comfort level according to the information available. I was recently in a play since 2013, but when very negative news came out I sold all my stock, I couldn't take the risk. It was hard to sell but in the end I believe it was the right decision. I love companies that execute and tell shareholders the truth. Everyone that follows my postings can see all the other stocks I am interested in, many have produced spectacular gains for me, especially recently the area play that is going on in Newfoundland around NFG's discovery.
We do need the resource market to continue to perform. Good Luck.