TAS managed to raise $664,000 before expenses of the offer… They...

TAS managed to raise $664,000 before expenses of the offer…

They needed $872,850 to take up their full entitlements with the Eden offer plus they plan to do 2000m of RC/Aircore drilling early March in their SA tenements. They had $700k at the end of last quarter with a expected spend of $350k for the quarter.

Unless I have forgotten how to add up, they will be lucky to take up half their Eden entitlement.They generate no sales, with a cash balance of less then a million dollars after a cap raise(my guess) a drill program and big chunk to go to Eden, plus normal running costs ( yearly salary and director fees are around $1.4 million dollars, Yes Greg earns over $350k there!) TAS are looking shaky.

With regard to the concrete testing I had thought the US trials were to be on a roadway, bridge ( in areas of high activity such as snow ploughing) and or a factory floor with plenty of traffic. Walls of a gravel bin is a different story, I can't see this being enough to set sales on fire, if successful it will lead to more serious trials and then hopefully sales.

I worked at a garden supplies and we made the formwork and poured the concrete for the gravel bin walls, they were cheap, easy to make and lasted 3-5 years. Success in this trial showing that there are not to many chunks taken out or cracking is just not enough I don't think for short term sales.

Same in Australia, excellent that we have got trials going but a concrete cylinder ? These are more like pre trials to judge success then move onto commercial trials with industry. Only then with successful results will sales come.

Given the simple nature of the trials I'm surprised it has taken so long to get them going.

Definitely a step forward but not as big a step as I had hoped.

I am in Canada still and the newspapers here regularly talk of the oil price returning to $70-$80 by their spring, we really need to raise over a $1 million to allow time for optiblend sales to return or it is going get tight again very quickly.

Best of luck.

TTB