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Looks like the placing shares are being mopped up today. The bod have been transparent with the additional shares/fundraising activities to follow with the pilbara drilling.
With warrants set at 1.0p anything below Is amazing value.
Strong hold - GLA!
MP this is THR thru' and thru'. Placing price soon.
Should not have dropped below 1p
About to pop.
Dilution from extra shares was only 9.47%
30% drop is un warranted.
They are going to get very busy with Ragged range.
13km strike length is pretty substantial.
Additional highly prospective acreage in Pilbara would be welcome to.
Both my BUY orders went through below mid just under 0.90
Showing as a Sell....think MMs grabbing few.
News incoming I think.
The last paragraph in particular
Through this RNS; when DYOR this is what you need to read carefully and then make your own decision.
1st JUNE 20/20
· The Company has raised gross proceeds of A$700,000 via the placing of 140,000,000 new Ordinary Shares at a price of A0.5cents/share ("Placing"), and A$130,000 via the conditional placing to Metal Tiger PLC and subscription by company directors of a total of 30,000,000 new Ordinary Shares, also at a price of A0.5cents/share ("Conditional Placing").
· Strong support was also received from a broad range of new institutional and sophisticated investors in a heavily oversubscribed placing, significantly strengthening the Company's share register.
· Company directors Mick Billing & Richard Bradey each to invest A$10,000 in the Conditional Placing subject to shareholder approval.
· Metal Tiger PLC, the largest shareholder in Thor to also invest A$130,000 in the Conditional Placing subject to shareholder approval.
· In further support of the Company, Metal Tiger PLC has, subsequent to the closing of the Placing and Conditional Placing, agreed to invest a further A$120,000 on the same terms as the Placing to accelerate the Company's projects and provide further working capital ("Additional Placing"), also subject to shareholder approval.
· The vendors of American Vanadium Pty Ltd and their associated parties are subscribing for A$200,000 in the Placing, reflecting their strong support for the project under Thor ownership.
And the reply from black cat
Hi Rubiconis In the exploration business advances in the understanding of how and where gold deposits may be located dictate the manner in which you should explore and the terrains where you are going to get the best bang for your buck.
Only five years ago the Pilbara was not considered a very attractive place to prove up a significant gold deposit. Some 150 years of exploration had never produced a gold deposit in the Pilbara similar to all the big discoveries in the Eastern Goldfields.
Then along came the conglomerate gold frenzy with Novo Resources leading the charge based on the theory the Pilbara represented another Witswatersrand similar to South Africa. During that time I and many other companies moved aggressively on areas that had Mt Roe Basalt and Hardey Formation contacts. The Ragged Range tenements we sold to Thor had some of the those rock types but also contained very prospective Euro Basalt - ultramafic settings similar to the GGP discovery abutting both E 46/1262 and E 46/1190.
The mafic -ultramafic gold settings still have a lot of potential and Thor is aggressively pursuing that objective -to try and locate the source of the gold in streams. Hence my comments in that respect.
Now if you did any research you would understand that in the last year or so De Grey have made stunning discoveries in completely NEW geological settings -granite intrusives -in the Mallina Basin - a setting never before witnessed in the Pilbara.
So after 150 years the Pilbara is indeed able to boast the same potential as the Eastern Goldfields and that has been the catalyst for an exploration rush to position in areas with similar Sisters Supersuites or similar geological settings. De Grey now have a multi billion dollar market cap.
Thor have a very exciting project in conventional mafic -ultramafic rock types but all the excitement and the ability to raise significant capital is focussed on granite intrusives and that is why in my opinion Thor should be aggressively expanding its exploration footprint in the Pilbara -not just resting on its laurels with Ragged Range.
Interesting question on and answer on Hotcopper
Hi Black Cat. So, yesterday I began my research into Thor, stream sampling and using that to zero in on a potentially economic, host mineralisation drill target is very interesting.
Then I came across this thread. So, out of sheer curiosity, and an abundance of caution, I would like to ask...why did you sell it then? I mean, if there truly is the value that you believe in this patch of ground, why not develop it yourself? Surely, the gain would be significantly greater, no? Hope you don't mind me asking.
And secondly, you mention DEG a few times, in relation to the similiarities of the mineralisation type? Something about it's understanding being only 150yrs old? What is this about?
And lastly, if you don't mind, what had you so convinced? And why did all the geologists in London laugh in your face? They simply didn't understand this deposit? Not well-educated?
Thankyou very much for your time. Cheers.
What would help all investors is if Thor would concentrate on the ragged gold prospect. To much time passes by before we see the next step. After seeing the latest stream sampling results I must admit it is looking very promising. Recent investments made by other company’s has been mainly driven by this. I wait with anticipation to see what drilling will bring.
How long is a piece of string. To prove up Havieron over at Newcrest/ggp your talking circa 50-70 million plus. It could pan (lol) in many different ways. I.e many more placing/warrants etc or maybe the better route would be a mirror of ggp where a JV happens but Thor would need to give away a large percentage. What you should be focusing on is Thor’s latest stream sampling results which look very promising. If drilling does hit mineralisation I can see us going up to at least 2-3p per share. Anything beyond that would be pure speculation based on many unknowns.
Someone spending the big bucks on THOR
No words of wisdom here pal, honestly. But people just don’t DTOR; if you were going to marry a girl, you’d wanna take her out for yourself etx wouldnt you; you wouldn’t listen to what other fellas said and then just pop the question !!
So it’s the same here; my whole approach to THR is well documented on the MTR board; placing after placing and nothing happening and of course MTR putting in each time is shareholders funds, so my money in part.
But this fund raise at fair SP value with good warrant price so I’ve dipped my toe in. Of course there are decent assets that have been acquired at what I believe to be the start of a strong and long commodity rise.
I’m looking for 2-3 initially and then 5-7p within a 6 month period as long as there are proper results for the MILLION just raised. IMO there will be something exciting BASED on the fact that there is a new large investor putting in a decent whack of poppy.
So in essence I’m very happy to be in; not looking for short term ism here. I’ve been in MTR since Feb17 and at one point was hugely down but bought with conviction and now I’m in good profit but MUCH MUCH more to come.
So hopefully I’ve DMOR, thought about it and dipped in.
And is Amigo the loans turnout ?
Cheers for that fierce - I'm an expert at Amigo but not here. I came in on an educated recommendation and I have plenty of time to wait for this. I own businesses so am not a trader - suppose I'm an investor : )
So, I have regular income and I'm looking to retire in 10 years or less so I can tickle in to here and Amigo and I'm very excited about both!!!!!
I will look for your words of wisdom - keep them coming as your research is more learned than mine - and if you want to know anything about Amigo just ask : )
Crazy - As I'm new to this I would be grateful if you would qualify your last statement with facts and figs.
How much does it take to drill and prove up, taking in to account the financial partnerships in place and the funds already in the bank???
How many more placings do you expect and for how much dough???
THR was always going to rise initially because of the 1p warrants; people ramping ASX rise and yes some seem to have bought in thinking of a quick double up plus from a starting SP of say 1p
Never going to happen. And the next lot who go on about the shares coming to register; GGP has almost 4 BILLION shares in issue ffs.
You have to D Y O R; this one won’t be a 10-20 bagger in 6 months; but MTR and ARV think that there has to be something or else they wouldn’t have supported this latest and higher priced fund raise.
Of course they are reasonably protected because assets have been acquired; will they work who knows ? But I would think that all the geologists from the three main co”s would have had a look and decided to put the dough in.
I myself was 88% down in GGP at one point; bought all the way down and sold out @2.15p and made 15% profit and left the stock because I didn’t trust the board and GH. You can’t win them all.
This won’t be that meteoric simply because they don’t have that size acreage; but IMO it has enough to get to a 50-75M Mcap company relatively quickly with in particular the Gold and Vandium assets that have been purchased.
So I would say IMO sit tight, stop wetting your knickers, no point selling at a loss and look at it over the next 3 months.
I had a little tickle this morning and will be back in if the price sits here.
And I repeat again D Y O R ; it’s YOUR MONEY !!
Of course there will be plenty more placing are you a fool man. Do you realise how much it takes to drill and prove up just the gold exploration at ragged never mind any other assets. Expecting a drop down to test 0.8 tomorrow which is when I’ll be swooping in for a top up.
Gold - Cheers for that - very interesting. Lets hope it's not too long before we start extracting the gold and see this share price rise!!!
Bsg I’ve seen placings a at a premium of current share price value before so I wouldn’t worry about that too much even in the highly unlikely event there will be a placing.
The chart says it's going up like Coronavirus.