Some quick PP calculations. 2022-04-06 - After the closing of 2nd PP of $12.9 million today, the announcement confirmed that->
Eric Sprott, through 2176423 Ontario Ltd, a corporation beneficially owned by him, subscribed for 1,250,000 Units in the Offering for gross proceeds of $2.5 million to the Company.
If you add the previous PP of $15 Million which closed on 2021-11-04 which reported that ->
Mr. Sprott now beneficially owns or controls 33,717,819 common shares representing approximately 17.6%. his ownership has now increased to 34,967, 819 shares.
According to https://www.marketscreener.com/business-leaders/Eric-Sprott-6893/biography/ TUD is still his 4th largest holding and this has not been updated to reflect these last 2 PP's.
As far as cash for drilling we should have $15 + $12.9 = $27.9 million available? I'm not sure here so any input / clarification would be helpful.
As a TUD investor it is also significant that it seems that his holdings in TUD are approximately 2.66 times his holdings in TUO.
Things are falling into place at TC and the Longs just need to be patient. Hoping the spinout happens in the next few weeks.
GLTA & DYODD