Announcement reads well. Seems like one for a longer term hold based on 2023 plans and projections.
On the short term, one would have to think do they have enough financing despite the $1M farmout agreement with TPD.ASX and the $3M odd cash on hand?
Despite recent positive market updates by TMK, the order book seems heavy with supply of shares indicating further price suppression short term. Seeing as though they have close to 4 Billion shares on issue, this would make sense with what we see in the demand vs supply.
This will surely get my interest in the future once more capital is secured. They should look into doing a split consolidation of the shares and get it out of the micro penny range and into the more medium penny stock price.
Seems TMK couldn't capitalise too much on the volatility of USOIL prices. No real sentiment from here here as there's no real buy signal.
TMK Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
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