TOC closed at $0.56 on Friday setting a yearly high.TOC pushed higher on Friday closing at $0.56 on 344,000 shares. This represents not only a year high but an all time high. TOC traded only 753,000 shares for the week, so it is encouraging to see the high volume and price push to yearly high on Friday. Two things are expected soon, 1) closing of a $1.25 M USD PP at $0.50 and 2) assay results from drill program.
What I find interesting is the warrant at $0.70 which only has 18 month expiry (very unusual), also a very aggressive accelerated warrant, quote......".....
If, on any 10 consecutive trading days occurring after four months and one day has elapsed following the closing date of the offering, the closing sales price of the shares (or the closing bid, if no sales were reported on a trading day) as quoted on the Canadian Securities Exchange is greater than $1.25 per common share....".....
Hopefully what all of this tells me is that the company is very, very serious about making Pilar a success. They wouldn't have financed at $0.50 if there wasn't a strong case to bring this potentially to production. And let's not forget, only 24 M shares outstanding and given the trading, a pretty tight float. Good data posted below from a previous press release. Amazing that over 17,000 m of drilling has been done....!!!! Three zones of mineralization have been identified in the northwest part of the property from historic surface work and drilling, and are referred to as the Main zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall northwest-southeast trend of mineralization. Over 17,700 m of drilling has been completed to date. Significant results are highlighted below from previous operators:
- 17,700 m of core and reverse circulation drilling; highlights include (all lengths are drilled thicknesses):
- 0.73 gram per tonne gold over 40 metres;
- 0.75 g/t Au over 61 m;
- 17.3 g/t Au over 1.5 m;
- 5.27 g/t Au over three m;
- 53.47 g/t Au and 53.4 g/t Ag over 16 m;
- 9.64 g/t Au over 13 m;
- 10.6 g/t Au and 37.8 g/t Ag over nine m;
- 2,650 m of surface and trench channel sampling; highlights include:
- 55 g/t Au over three m;
- 28.6 g/t Au over six m;
- 3.39 g/t Au over 50 m;
- Soil sampling results from undrilled areas indicating mineralization extend toward the southeast from the Main zone, North Hill zone and 4-Trench zone.
ogether a serious push around Pilar given the robust previous drilling that has been done Three zones of mineralization have been identified in the northwest part of the property from historic surface work and drilling, and are referred to as the Main zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall northwest-southeast trend of mineralization. Over 17,700 m of drilling has been completed to date. Significant results are highlighted below from previous operators:
- 17,700 m of core and reverse circulation drilling; highlights include (all lengths are drilled thicknesses):
- 0.73 gram per tonne gold over 40 metres;
- 0.75 g/t Au over 61 m;
- 17.3 g/t Au over 1.5 m;
- 5.27 g/t Au over three m;
- 53.47 g/t Au and 53.4 g/t Ag over 16 m;
- 9.64 g/t Au over 13 m;
- 10.6 g/t Au and 37.8 g/t Ag over nine m;
- 2,650 m of surface and trench channel sampling; highlights include:
- 55 g/t Au over three m;
- 28.6 g/t Au over six m;
- 3.39 g/t Au over 50 m;
- Soil sampling results from undrilled areas indicating mineralization extend toward the southeast from the Main zone, North Hill zone and 4-Trench zone.