it's the cash position - simple., page-91

sidthefish
it appears on my reading of the inital deal with Grafex that there is no immediate need for immediate cash raising.
I can't read yet that there is an actual commitment by TON to finance any and all drilling at all.

I have been unable to get any information googling Grafex .Are they Sth African listed? Who's their shareholders etc etc like what is Grafex's expectation and role in the proposed JV?
It's seems quite baffling to me but reading dry company news while sipping don't help!

Anyhow I looked a bit into Triton and their 100mil odd shares issued Before this graphite play.

Obviously they were held by Gold Bugs and one wonders on their attitude to holding still in Graphite "distraction"?

Their investment in TON from the start has not been too "hot",Will they cut their losses like POS and sell out to the new register Top 20's?

More importantly perhaps will these "old time" Substantial Holders form a pool of Sophisticated Investors for future CR's? or will TON just be swamped with New Money in a CR event?

Anyhow you can see how most new holders bought in the 8/10 cent range.That's where the Volume has been turned over and imho it was only in this range POS etc were willing to offload ie provide supply.

I suggest it was also the price range other existing holders cashed out too at least some of their holdings.
This provide a supply cap to SP getting and staying above 10cents.

Anyway I also noted about the $500k 10c placement income was going to be spent in part on more "work" on the Gold Tenements and I wondered sidthefish if these Gold Tenements could be sold sometime soon for finance and avoid a placement that way?

TON doesn't seem to have much of a record in JV'ing in it's gold.I haven't been completely though their Gold History but while sipping a drink on Friday night couldn't find a drilling report,a successful one even.

Anyhow going to do some work maybe on the nearby German Graphite Producer.Try to get some idea of the success of their operation.Production/Market Cap etc.

I can't see this doing a rocket anytime soon.Can't see any news anticipated that will take this above 10cents resistance and keep it there.

TON needs Drilling and more importantly Metalurgy Results to "move".The days of Visual and Rock Chip Samples giving sustained momentum are over[imho]

Noticed that pizza has started dismissing the SYR comparison.That's wise.

SYR ran when the Graphite "scene" was Hot.Today it's not so.Wiser Graphiters,more informed make the market these days.

SYR had 100% ownership of the Jacana tenements which included many more prospects than just graphite.

It had "dedicated" shareholders holding,what?at least 60% of the "new" enterprise?

TON don't have that in comparison
so it's pretty 'amateur' to dream up that TON is somehow pre ordained to track SYR even conservatively in the long term.

As for Jenks and now samwiise as Top 20 holders and this is somehow reassuring?

Well the original Top 20ers TON didn't go too flash and I imagine their inital holding was in some cases over $1mil.

A chart of TON from initial Float