The trading in Tocvan was very light this week, closing at $0.48 on Friday with only 49,800 shares being sold. The overall volume was very light for the entire week with only 128,000 shares passing hands. The selling came from a range of brokerages, with Red Cloud buying almost half of the shares. I suspect most of the light selling was from people becoming impatient and moving on since Tocvan's value proposition hasn't changed, and if anything, the resource is getting bigger with each set of cores released.
As of Tuesday, over 2,200 meters have been completed in 20 drill holes, and I suspect several more have been completed as part of a 7,000 meter plus drill program. I was very encouraged by the results outside of the Main Zone, a step out over 300 meters. Results from six drill holes are pending, I think 4 of which are from the Main Zone.
Tocvan provided this update, "The Company is also pleased to update on the ongoing drill program at its road accessible Pilar Gold-Silver project in mine-friendly Sonora, Mexico. To date, over 2,200 meters have been completed in 20 drill holes. Results for nine drill holes have been released so far. Two holes returned the best results ever outside of the Main Zone trend, returning 56.4 meters of 1.0 g/t Au and 42.7 meters of 1.0 g/t Au from the 4-T and North Hill trends respectively. Both intersects were near surface and significant step outs (over 300 meter). Results for six drill holes are pending analysis and release. Samples for ongoing holes are dropped off at the local laboratory for analysis on a weekly basis."
If you want to learn more about Tocvan, Brodie Sutherland will be presenting at the virtual Resource Mining & Exploration Conference (RMEC) Tuesday, June 4, 2024, hosted by Sagacity Capital Media and Guerilla Capital.
CEO, Brodie Sutherland will provide an in-depth update on the Company at 1:00 p.m. ET, June 4, 2024. RMEC is an interactive experience for featured companies and investors. Companies will have 20 minutes to outline theirinvestment opportunity before investors get the ability to engage in a real-time Q&A with management after the presentation. To register for RMEC, please click the link:RMEC SIGN UP RMEC (Resource Mining & Exploration Conference) is a unique virtual investor conference. The goal is to expose new investors, as well as our global network of retail and institutional investors, to vetted Exploration & Mining opportunities. The number of companies is limited, and the content is curated with investor time and interest being paramount. While not exhaustive by design, the REMC aims to present potential investments to new and seasoned resource investors by presenting highlights for further research.
Each participating company hosts a live presentation followed by a Q&A period within approximately a 40-minute slot. The goal is to help investors learn about the junior companies that are shaping the future of the Global Resource Sectorwithin a responsive and pressure free environment.
It is amazing how fast this year has gone by, it is already June 1. The price of gold remains in a strong position and continues to move up and down with the swings of the market, but I believe this is another phase of consolidation before the next upward price movement.
Everytime I think about selling a few shares, I always remember what my dad said, "PATIENCE".