RE:RE:Another very narrow trading range this week for Tocvan.You are absolutely right, Tocvan will need more cash, but they have a strong institutional investor, Sorbie, who have skin in the game and much more skin to be released over the next years. I also don't think they are done investing in Tocvan just yet. This $500,000 raise is partly to be used to secure the massive land package that Tocvan just acquired around Pilar and of course, to get the drills turning. Lidar will also greatly assist in this activity.
Comparing Karora with Tocvan is like comparing apples and organges. Kaora is a big Autralian mining compnay with over 175 Million shares outstanding and significant mining operations with between 170,000 to 195,000 oz forecast for 2024. Whereas Tocvan right now has about 40 M shares and not too many options and warrants. Karora has taken a decade to get to the breakout price of $3 to high of $7.50, thus rewarding sharesholders who had the patience to wait with significant returns, not to mention the trading and liquidity.
Tocvan is a very tighly held security as evidenced by the low trading volume, who is now completing many of the preliminary steps to take Pilar to production, i.e. drilling over 23,000 m, significant resource grade starting at the surface, and now a massive land mass to build the production facility and increase resource. A maiden resource estimate is sure to follow soon.
My hopes are Tocvan is in the accelerated part of the production curve, heap leach recovery has been proven, Pilar holds significant resource, and the new property is a plus for a number of reasons (resource and expansion of production footprint).
I am holding, I suspect the good times are yet to come. Tocvan will eventurally have 60 M shares outstanding next year as they raise more money at higher pricing, but after this point, I don't think they are going to bring Pilar to production, but rather be acquired by one of the local mining companies looking for more resource. It is not too far of a reach to see this property being purchased for $3 to $6 per shares. It is all about share management to maximize the return to shareholders when someone comes knocking to buy, Brodie has proven he can raise capital and manage the sharestructure.
And what Pilar can really be worth doesn't factor into the robust nature of the property just acquired, who knows what the "BLUE SKY" potential can be. Exciting days ahead is what I am thinking.