Interesting announcement - share issue to raise $600K - the question is why? They've just completed a $3m IPO ostensibly to fund exploration, are in the process of entering into a farm-in arrangement with DMA in return for DMA effectively funding TCM's obligations under their own farm-in arrangements, they have $2.6m in the bank, forecast expendiiture for this quarter is 350K and they have raised more money already?
Wonder if another deal is about to be done with the parent company, given the parent company has just announced an on-market share buyback but doesn't appear to have sufficient funds to actually carry out the buyback never mind continuing to fund its ongoing operations.
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