This statement of yours..."Talon just gave $12million to get TMK to drill and start up the productions" ...is totally wrong.
I am glad you did not waste time and snapped it the second time as it was a waste the first time.
Talon (TPD) had an agreement to fund the first drills (completed) and then a first option (obviously if first drills were good) to commit $$$ to fund the second/production drill to obtain a 33% farm in share of gurvantees.
This has been known for a year that TPD would more than likely fund this...its not a surprise or a real amazing development. Its basically all going as planned a years ago....for someone else to fund exploration to production. TPD agreed to fund the next drills which is $3mill US + $800k cash....thats as simple as this is.
The $12 millon that TPD raised is meaningless for TMK.
Note: On the 1st December Talon accepted the option with TMK to farm into Guravantees. At that time TPD had $6million in cash so could have still agreed to farm into without a $12million capital raise.
The $12million is mostly for TPDs other involvements and sures up their balance sheet as they was always a planning to possibly give TMK $4million to farm in at this point in time.
TMK Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
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