Im fine with it, glad its decided and glad we didn't really see it coming, well not most of us.
It caught me unawares though I had an idea there would be one just before or just after New Year as there had to be to achieve the stated 6 rigs running.
Im too opinionated to often totally agree with anything someone else thinks but I totally agree with everything Corgi wrote on this topic.
Enjoyed H8 and any others posts on the topic too, a little humour never goes astray..
Think we will raise enough money to get us to or near to the middle of next year going full belt. So thats might be 20-25 mil...dunno.
Freddy IMO we won't go the full CHN (absolutely massive raise) firstly because we are not $1 per share as they were and secondly despite what some who have decided to complain think (not you btw) Zeff does care about not diluting shareholders. God he and top management are the biggest shareholders and when their bonuses hit they will have even more skin in the game.
They are not helping mates (brokers) out by raising low or raising now, they put out stellar results after another with the skittish market failing to appreciate what our last few announcements signify to our commerciality.
Does anyone seriously think Zeff would want to raise sub 30c (which is multiples or the last raise in a few short months btw) to help mates (brokers) out?
What about his actual mates, extended family and long term supporters who backed him from before Tesoro went public and his own immediate families ,massive shareholding?!!!! Ofcourse he wants to keep dilution to a minimum.
Anyone who thinks he's doing a sweetheart deal with brokers to raise low have no idea. He will have a couple of hundred million shares himself before this TSO company building is over, does anyone seriously think he wants to see anything but the share price going up?! Jesus help me.
The market has failed/s in recent times to realize just what we are onto, I'm sure Zeff would have been happy if the Geo work that came out recently indicating its likely Ternera repeats to the East had found more traction.
The expanded footprint announcement which had little evidence the new land would be good (albeit massive) drove our share price nuts and now we bring out strong (actual evidenced) geo work showing we are likely to have another, a second Ternera on our hands and the share price barely reacts.
The shifting sands of the market, is more skittish and not as frothy about gold as it was a few months back. Zeff can't be blamed for not picking that, as others have stated we HAD TO HAVE the AGM out of the way to raise a cent.
This result is fine, we need the cash and we have it on the way, done and dusted before Xmas.
Now to TSO it doesn't matter now how much golf Trump plays as the biggest health disaster to hit the US in 100 years kills his people ...how little he focuses on the human and economic damage there while neglecting fiscal stimulus desperately needed by small business (just send your donations to DT@ Fight the fraud PO BOX Las Vegas...no amount of idiocy there or anywhere else will matter...the Chinese can ban all the Aussie delicacies they like now (I'm wondering where are they going to get their lobster for the Communist Party banquets now?)...no all the stupid happenings and risks in the world won't matter now. Not to TSO anyway...because we will have the money in the bank...
Well done Zeff, this money will be the making of TSO.
If you believe in our management and what they have achieved in amazingly little time and you believe in the potential of the deposit you will agree that Zeff is acting in shareholders best interests to firm up this money in uncertain times so we can go in 6 drills blazing into 2021.
TSO Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
