Doyle you can spin doctor this issue for all it is worth. The facts remain clear. This is a hope and blue sky stock.
As beetrootie pointed out ' Even with the new capital [from this capital raising], paying the non-budget shortfall of around 400 k (which it seems is going to occur from the limited information announced) I can't see it being long before cash is once again an issue.'
Without an underwriter this capital raising was probably sunk, And perhaps we may even see, after the issue is done, a stock where a few hold most of the shares and quiet rightly expect their holdings to work in their favour.
IMHO TLU has too many risks ahead. Like how the BoD will raise the millions needed to service the various JVs. Never mind the actual capital amounts needed to drill and develop the infrastructure of an oil or gas producer.
For anyone in doubt, take a look at Rick Rule’s comments from Sprotts Thoughts. IMHO what he observes regarding the ‘The Dow Jones North America Select Junior Oil Index’, the effect of ‘de-capitalization’ and the future big picture for oil and gas juniors rings true for TLU.
