It looks like they let the right to100% expire. To qualify for the other 40% I think they had to spend 100s of 1000s 0f dollars. As you know they are short of finances. Unless they made a addition to the contract. As I said not sure. Atb zeps
Thor Mining holds 60% equity in the Dundas project along with rights to increase that equity to 100%. The period in which Thor was required to spend a minimum of A$1million to be eligible to increase its staged equity to 80% expired on 30th September 2012, and Thor has reached agreement with the tenement vendors to extend that period to 31st March 2013. So not sure mate. Zeps
Bonker by no means am I an expert on this equity, however, have a look at the current sites it is exploring (Spring Hill in the North Aboriginal Territory (80% interest), Molyhil (100% interest), both of these have fantastic assay results with potential for low extraction costs (open pits). Dundas Thor has the right to acquire 100% interest currently 60% interest by 6th April 2014 that's right two days away. This may explain recent rush for share issues.
However, looking at the balance sheet, the company despite having assets is cash strapped and needs financing to be a going concern. It needs now production a big strategic challenge. Please people fill in the gaps..
Boys, you got my attention - anyone care to give me the 30 second hard sell on why I should take a punt in here around about now? Turnaround events and (real world!) timescales would be most useful ...
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