CSE:TCF - Post Discussion
Post by
Guytorule on Aug 17, 2024 12:32pm
Lets Review Year 2022
Lets reflect back to 2022 with all that Promo and with 3 analysis coverage who also facilitated financing and placed ridiculous price targets pre-consolidation. Stock price then hits .52 cent highs and given then a market cap of over $200 million based on all the hype and company paid promotions with future share price predictions. Share price couldn't go any higher while posters were saying 2-3 dollars targets. Today, we are where we are, markets knew then as they know now that this play with its production issues and current market cap of a measely $18mm and having a fully diluted share count outstanding today of close to 250mm shares is difficult to attract further investments in my opinion. While they may increase production with the velocity strings...it will be no where near their November 2023 highs of 14mmcf / day in my opinion and therefore, price appreciation is limited. The on-shore oil exploration they had been promoting for the last year is considered a non-play currently, they lack financing with its huge Cap X required under their earn-in agreement to spend $12mm (U.S) to drill 4 exploration oil wells by the end of 2024. In addition, they lack cash and revenues as that last financing of $2.7mm is not enough to cover those further promised drills holes on the SASB field (Program B) highlited in their current Investor Presentation requiring $25mm dollars in exploration costs . All in all, things look abysmal in my honest opinion based on all information and events in the last 2-3 years. I lost big time on this play during this period I afraid, My BAD!!..Good Luck to all holding and hope all turns out the way you expect.
Just the Facts...as reported by company.
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