Shares in Thomson Resources are on the move today. Here are the details
The post Thomson Resources (ASX:TMZ) share price jumps 10% on US initiatives appeared first on The Motley Fool Australia. –
The Thomson Resources Ltd (ASX: TMZ) share price has soared into the green during afternoon trade on Thursday.
Thomson shares are currently up 10% to 11 cents after the company provided an announcement today.
Let’s dive in further to find out why.
What’s happening with Thomson Resources today?
The Thomson Resources share price has been on the move since the company released its corporate presentation “for use at meetings in the USA”.
The report states that Thomson’s executive chairman, David Williams, is currently “in the USA meeting with a number of potential future institutional investors”.
The first round of meetings is due to take place around the Precious Metals Conference, held in Colorado this week.
Thomson then intends to hold additional meetings in the UK and Europe following this round of pitches.
Additonally, the company advised that, “given the growing interest out of the USA in the company”, it has submitted an application to list on the over-the-counter (OTC) markets in the US.
That application is “well advanced”, according to the release.
Throughout its presentation, Thomson covers its business model, key interests in silver and base metals, in addition to its environmental, social, and governance (ESG) initiatives.
One interesting takeout is Thomson’s inference to the “Software as a Service (SaaS)” label, sprouting its own term called “Mining as a Business (MaaB)”.
In any sense, investors have bought the news, and have pushed the Thomson Resources share price higher on the day.
Thomson Resources share price snapshot
Thomson Resources shares have had a difficult year to date, posting a loss of more than 4% since January 1.
Despite this, Thomson shares have still gained 116% over the past 12 months.
This result has outpaced the S&P/ASX 200 index (ASX:XJO)’s return of around 25% over the past year.
Should you invest $1,000 in Thomson Resources right now?
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The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.