Post by
lifegoeson on Jun 11, 2022 12:25pm
Price holding in face of two significant market down days.
TOC held well last week, closing at $0.95 on only 7,200 shares, thus even if the face of two massive down days in the market, investors seem to understand what is going on with TOC and the advancement of the Pilar discovery and resource expansion, and are willing to hold on to their position. TOC is in a position at this price to raise money without significant dilution, a nice place to be in. TOC traded about 387,000 shares for the week.
In a press release this week they outlined results from a reconnaissance drill hole testing a 200-metre gap between the Main zone and 4-T trend. They encountered low grade gold almost everywhere and only 6 metres from the surface, including Including 4.6 m at 1.6 g/t Au and 29 g/t Ag, from 6.1 m. This is pretty good for a first time drill hole, but importantly it confirms to me there is gold and just needs some more drilling in this area.
Also, important that planning is under way to complete more drilling within the next month to further evaluate these new target areas.
Finally, it is already half the way through June and it won't be long before they plug their first hole in Picacho, there are several exciting targets there.
I see Brodie is at PDAC this week in Toronoto, hopefully talking to investors and raising more money.