TOC closed on Friday at $1.11 on 223,000 shares.There isn't much more to be said, the execution by Management and the Board of Directors of TOC has been nothing short ot text book. It didn't happen overnight, this play has been almost a year in the marking, many of the pieces of the puzzle have already been put in place.
I originally first bought TOC based on three things, 1) the historic 17,000 m of drilling at Pilar, 2) the share structure, and 3) past record of Management and the Board. Stratigically they acquired an advanced property which had the potential to become an open pit mine or be acquired by a major, but first they had to further prove the resouce. Systematically they surveyed, analysed historic data, raised capital at around $0.20, drilled, then raised capital at $0.60, exercised all lower price warrants raising an additional $600,000 without dilution, and now the big show with the price over $1. DRILLING, cores at the laboratory, still drilling, channel sample to test metallurgy, future permits already in place, and talk of a 50,000 t bulk sample. Add on top of this excellent price control and increased buying in Europe and now a US listing is in the works.
TOC traded almost 800,000 this week in Canada (and hundreds of thousands in Germany), in the last month about 2,7 M shares have been purchased in Canada.
You ask why has there been so little selling, first and more important, there are no traders playing this one because of the upside risk. There are less than 28 M shares in the market. For a stock priced at $1.11, no selling tells me insiders are tight on this one knowing fully what the plan is. For me as a shareholder I need to determine, do I believe them? My answer thus far, is yes I believe them as long as they continue to execute and be transparent. I can't wait for the next round of results as these will direct the next drill targets.