"TomCo believes that within six to ten (6-10) years there will be techniques available to the company to extract oil shale from its properties at an approximate cost of $30 per barrel".
Maybe so. But 6-10 years!! come on. As I've said Tomco are too far away from commerciality for private investors to have their money stuck in this company. It's quite ok for the management to do so with various pension and tax incentives not to mention stock options but not us. There will be many more dilutions to come as they have raised only £1.2 million for leases and acquistions.
The placing price was at 2.5p and the stock is already well under that. It will continue to slide back until the markets see some tangible signs of progress.
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