RE:RE:RE:RE:RE:Upcoming Drilling ProgramWildfire, thanks for your comments, seems we are the only one on this thread. I agree, junior miniing companies are at the mercy of management. I think everyone knows companies that use the "wash and repeat" cycle, first cheap financings ($0.05 to $0.07 range), issue tons of cheap options and warrants, promote the play, the price goes up and lower priced shares exit. This happens over and over again until the capital structure gets out of control and they can no longer raise money, eventually resulting in a consolidation, and starting over again. Many do this with the best of intentions and just never seem to get the job done correctly.
I will say one thing, no one wins in a BEAR junior resource market and generally everyone wins in a BULL junior resource market like we have been in for a while now (just look at what Erid Sprott is betting on). Several years ago I hardly played stocks, today I own several and very happy with my returns, as are most people. I follow all the plays Eric has put money into. You know the old saying, "Follow the Money".... the Warren Buffet model.
Now back to TOC. It appears management took considerable effort to find a highly de-risked play in Mexico (Pilar), 17,000 m of drilling, resource close to the surface, and potential for early stage open pit mine. They did their initial financing sub $0.20 (bringing confidence that hopefully this wasn't the start of a cheap play). They structured the company to start with an excellent share structure. Then methodically promoted and financed at a higher price to keep the share structure desirable (about 28 M shares). They took their time, first ground work, drilling and increasing the resource, and now moving along to a bulk sample which will allow them to produce a compliant 43-101. The price has had its swings but in general not a collapse back to pennies. Now we will be moving along to the next phase of drilling. But everyone should understand, it has been more than a year and there will be more years to come if you want to make the big money (of course, that will only happen if they excecute their business plan successfully). Sure there will be up and down swings, trading opportunities, etc, but any company that reaches success by way of an operating mine or eventual sale of the compny. time and patience is required.
Not to hype this too much, but they have further de-risked this investment by optioning a second property close by, the El Picacho gold project. In addition they have listed in Germany and on the OTC in the US. TOC has a very large shareholder base already in Germany, and I suspect they are getting ready to promote in the US.