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Hi, tweenie @14.25
Every board has its perma-bears; and bsg and scorpio2 are excellent at what they do, which is to depress sentiment. It's a strange hobby, if one thinks about it.
Moan when they flip an asset
Moan when they dig
Moan when they do nothing.
Personally, happy for cash and shares and a more focused approach.
I really hope this isn't old boys network smoke and mirrors
Good stuff. Thor starting to move forwards!
The 48m shares in POW can be sold, but not all at once.
"Thor Mining will hold the Initial Consideration Shares in full for a minimum of 6 months after the Option Exercise date, and thereafter the Initial Consideration Shares will become freely tradable in 25% instalments (25% tradable 6 months after Option Exercise date, 50% after 9 months, 75% after 12 months and 100% after 15 months.) This trading restriction period may be varied by both parties with written agreement."
The warrants give Thor a long term interest in POW (which is fine by me, as I'm an admirer of Paul Johnson, for buying into GGP at the bottom).
It must be rembered that THR went through a process a few years back with regard to many of their assets and that included Pilot Mountain. At the time it was considered too small to attract a JV partner. Best to get rid of it and concentrate on the OZ assets.
A Paul Johnson company. He was a director of Thor & was pushing Pilot Mountain, so he knows the history of the resource. Be interesting to see what comes of it.
Mostly shares in POW, at a hefty premium. Not much cash. Old boys network in action.
I'm getting a good feeling about this company's management. Nice start to the week.
Big wedge of cash and shares for thor, its definately a good news day.
This is the second piece of good news today. I'm still taking it in.
https://www.londonstockexchange.com/news-article/THR/sale-option-pilot-mountain-project/15117135
we are selling pilot mountain.
and still managed to buy at a great price ...
A nice RNS with the grades today. The MM’s really don’t help this share with the spread around 14/15%. Ridiculous!
Revenue is King not placings unfortunately. Same old hamster-wheel here.
typos
*Double. Sorry for typoes just woken up and on phone.
It was alm9st doable last year. Sellung an asset is not revenue either. Its close for an exploration company and might lead to royalties.
The in situ recovery is intriguing but when its 6m from surface must bd tempted just to dig it up.
Looks like a large resource increase anyway. 13m mcap is tiny for what they have here.
Can only double if sold-on,,,,,"Revenue"
It's a great copper hit! Share price should double?!
Encouraging High Grade Copper & Gold
Project highlights:
? An exceptional high grade copper intercept over a wide interval:
21AED005 72.7m @ 1.0% Cu and 0.19g/t Au from 6.3m, including
18.2m @ 2.0% Cu and 0.34g/t Au from 15.8m
? As announced last week, other significant copper-gold intercepts include:
21AED001 32.9m @ 0.4% Cu and 0.31g/t Au from 81.5m, and
5m @ 0.5% Cu and 1.02g/t Au from 102m (previously reported
THR:ASX Announcement 25 August 2021)
21AED002 59.9m @ 0.31% Cu from 21.9m (previously reported THR:ASX
Announcement 25 August 2021)
? Significant pXRF copper readings (to be confirmed by laboratory assays) including:
21AED004 50m @ 0.45% Cu from 6m (pXRF) (Previously reported THR:ASX
Announcement 25 August 2021)
? Remaining assays expected over the coming weeks.
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
“The newly discovered broad zone of high copper and gold grades from near surface in
21AED005, combined with the significant intercepts in 21AED001 and 21AED002 takes
this oxide mineralised system to a new level, reporting values well above the Mineral
Resource Estimate grades.
The confirmed uplift in copper and gold grades along the controlling NNE structure
continues to excite and exceed Thor’s expectations. We look forward to testing this
structure in areas open along strike, to the north and south.
Pump testing scheduled for start of September will further advance the In-Situ Recovery
(ISR) ‘proof of concept’ hydrometallurgical assessment.
Exciting times ahead as we await final assay results from this drilling campaign and
commence the ISR for copper and gold baseline studies.”
Nice to see Nicole updating her twitter page, couple of in the field clips. IMO a lot of hard work going on.