Totally understand and I have been burnt badly myself. I make it a point for every large position that I take (I'm a top 20 shareholder in TOR) to build a relationship with management. If they don't show a desire to productively communicate with their large shareholders, then that is a huge red flag to me. With TOR, management are really communicative and come across as an honest and driven bunch. My radar may of course be completely off, but I wouldn't have taken such a large position if I didn't have confidence in their ability to make things happen. That being said, I'm not married to the company, and if things start to get shady I will be the first to bail.
Re. the announcement of the acquisition, it seems that this was more a result of your expectations not being met, than anything else. Acquiring an option for $1 over 200km2 in arguably the most prized exploration region in Australia is nothing to sneeze at. Abeh and Maxwell Strindberg have sold tenements to MinRes in the past, and these acquisitions in my view, strengthen the case for a deal with MinRes or potential acquisition of the whole company.
Re. the drilling arrangement, the shares will be issued at TORs election at the 5 day VWAP, not at 13c. This further supports the story that the driller sees long term value in TOR.
TOR Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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