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PE, most of the bigger holders with a relationship with SI or other involved brokers will have already have been approached with the terms of the placing!
Thanks PW but who is going to finance the devolpment?
I wonder what the strike price will be and how many warrants will be given, my moneys is on 0.35p with 1/2 warrants at 0.5p.
Anyone else hazard a guess.
yeah,there;s always hope m8.
but if anyones in the banks,monday could be a rocky ride,after the vote.
I just hope for all our sake’s it comes good.
if you go back a couple of years on the rns's....they actually hired a private comp,that deals in aquisitions/sales.....to deal with this molyhill sale/funding
What also sticks in the throat....these are accountants that can’t get finance !
i was just pointing out,some of the assets have matured well past exploration stage and are worthy of being sold....so not worthless
molyhill being the main one,,,,,,https://www.youtube.com/watch?v=PCaEgWVhWLg
even with a short 6 year mine life,which can be extended,especially with bonya
as for the bod/cash calls....no comment?
Hi T, I live in Oz so catching on an earlier post. I had a disclosable stake in WRES in 2014/15 but lost confidence in MM with the Bergen affair. Any way c’est la vie. I moved on. I hope it comes good for you.
Agreed AlfP, the story has not played out yet and there will be more twists and turns here. The present capital raise will no doubt be used to keep the plc lights on! However the traders will have hoovered up the shares and will now be in control of THRs destiny in the short term! Let’s see what Monday has to bring. I am not holding my breath though.
Hi T, the assets are not big enough to attract finance of any sort. They have tried the beauty parade and have had no takers. Shame but that’s the market we are in. Also mine life not long to justify the project without a further extensive drill program. The shell will become interesting but only when the Board have been fired or if they have the good grace to resign. Not sure MB has that in him though. His flitting around the World on shareholders cash is absolutely shocking and smacks of a cost structure out of control. I was offered shares in the placing but turned it down. Could not see the point unless MB et al went!
your right,i forgot about that,the mine lifes only around 6 years....
but you'll find every exploration comp is the same
an exploration programme
then 6 months later,a 10% casg call.
repeated for years,until the assset is sold.
that;s the thing,many newbies dont realise this,so after a few years,the sp is continuously being dilluted....lower.
and obviously,the more assets to service....the more the cash calls
anyway,from a traders perspective,theres good money to be made,but only if you can catch the lows.
Yes, you are completely correct - the most important thing for us to do at the AGM is to remove every possible overpaid director, and try to oust Mick. The assets are clearly decent, but the basic mine life is just too short really to interest serious players. This is a bit like TrapOil in the bad old days when the price of oil tanked - by the end all they were worth was their main market listing and their accumulated tax losses. Perhaps if someone aggressive and capable (ie PJ or Metal Tigger) were to help oust Mick, we could then sell off the remaining assets, distribute the cash to shareholders, change the name of the firm to Thor Equity and get one of the many private equity firms looking for a shell to reverse list one of their assets into it. Just a thought...
ime not disagreeing with you on the dodgy goings on,by exploration comps and some of the suspicious actions that go on...
but some of the assets are very good,not many,but take mlyhill for example,about 18 months ago,the sp 8 bagged on the sale/funding news..
and theres a pdf somewhere,in the archives and i cant remember the details,but the payback and profit projections are pretty good.
sml also have a tungsten mine of similar size and grade,with a more expensive pdf.
the coppers ok,but unaffordable
the golds early stage,and will cost a bomb to drill
the nickels not up to much,
the last two asset purches wernt up to much
copper mountain is good and worthy of a sale.
so asset wise.....thr does have some worthy assets.....if they went up for sale.
which is why i got in here,the moly sale
but like bsg keeps mentioning,ive been watching this for 10 years and its been dilluted to death...0ne year,this had 4 cash calls?
I think this is the latest and at this rate the last presentation for Thor’n in our side mining.
PW, the projects were clearly too small and with current market conditions did not attract any interest. Molyhill needs a lot more drilling but without an off take and virtually no funds this will not be done by THR! As you say RIP! There is now the chance to get rid of the two Directors at the up coming AGM and table a vote of no confidence in MB!
What’s getting my back up is they can’t even get Molehill up and running and now they are banging on about a Mountain, Pilot.
I am preparing to write off my investment as well but Mick needs to go with it, it sure looked good on paper though such a shame.
A1M I presume THR are having problems getting the placing away otherwise we would have concrete news by way of RNS by now. I am sure that a number of posters here have already been contacted by the placing brokers and know the price of the impending placing. Clearly there is no white knight or off take agreement or financing that MB alluded to all those months ago. If the Board of Directors do not subscribe in this placing then that is very very poor. I guess the traders will now get hold of this. The assets are obviously not attractive. So what will the placing money’s be used for? I have now written off my holding. A risk of investing in AIM! Anyone buying now caveat emptor!
If THR were genuine about raising cash in the best interests of the Co and shareholders then they could sell the hawkstone shares. It appears THR are going to hold on to them to use as a ficticious future "liquidity event" to keep dangling in front of shareholers noses, much in the same way that "mick has loads of shares, he wouldn't do meaningless placings as he would be diluting himself". This is nothing more than market manipulation here and Mick is centre stage. They control the Co, control when to sell and crash the price becuase they plan it around doing placings to cover their shorts and get back at a cheaper price, rinse and repeat, what hope do shareholders have. It's fraud.
You could also ask Thor management why they have never RNS the company's March Fly uranium project in Hamersley Metals on a now granted tenement in the NT. March Fly has approximately 250,000 tonnes of very high grade uranium at 2200 ppm ( 0.22% U) with a target of 1 million tonnes of 0.22% U. Not very long ago everyone was getting excited about uranium.
Firstly read the ASX query recently - irrespective of whatever happened a capital raise was imminent. With confidence in management shot and vendor shares out of escrow late September what would you do if Thor management refused point blank to RNS the company's gold assets to complement its base metals assets at a time when gold is taking centre stage on world markets. Now the big climb back and that can only really happen if new management is installed and the company changes focus to gold.
That's a very interesting question indeed. I don't know why an EGM hasn't been called to oust these massively overpaid directors delivering nothing. One thing I do know: if I see the name Mick Billing on any future companies' list of directors, I'm going to be shorting them from the getgo, because he has been a total failure at delivering for Thor and there's no reason to believe he will ot be a complete success at running into the ground another company, just as he has managed with Thor. What a failure that guy is!
IMV because Billing cant close out a deal ( if at all) before the end of the year. If he could and then do a raise that would be different. But cash runs out in Dec. The bonya resource wont be ready until atleast Jan 2020 and he won't want to surrender part of MH in a JV without confirmation of what tungsten is there
it all comes back to his over promising and under delivering consistently on everything. That in itself burns cash and leaves investors constantly disappointed and the situation we have now.
In March 2018 he said the MH DFS would be out in 2 to 3 weeks. .It took 5 months and was deliverrd in Aug 2018. He hasn't got a clue.
Why is there no noise from the major shareholders, why no EGM to deal with this sorry state of affairs? If they haven't been involved in any manipulation then their investment has lost a hell of a lot of money but they're ok with that?