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on how Thor are still trading to be quite honest despite all the funding they have had past and present from shareholders etc. Nothing has come to any serious realization. After 10 years holding here I should have seen the light 4 or 5 years ago seen the light and 'run for the hills' but never did thinking Thor would one day come good just like other like-minded LTH's. It's not even good to be talking like this on ones investment but this company needs a serious 'outside-in' looking at by competent consultants who understand the business and can show some 'pointers' here. A company like MTR could maybe take the reins and turn this round, who knows. It's a desperate situation for what could be a profitable company. :<((
I for one will be voting against all resolutions, hopefully this will start to give a stance on how much shareholders are now against the money grabbing scum billing is
This should see Mick through to retirement (with a few more discounted placings on the way). The sooner the better IMO. What a totally useless company this has turned out to be.
Just gone through this, resolutions on various different ways of diluting shareholders whilst lining the pockets of useless directors.
Won't make much difference but I'll vote against all of them, don't really care about acquiring yet another piece of land and some roks for Mick to test his Black and Decker on and that Thor don't have the funds to develop anyway.
Thor Mining PLC ("Thor" or "the Company") (AIM, ASX: THR) has today posted the notice of the General Meeting to be held at the office of Thor Mining, 58 Galway Avenue, Marleston, South Australia on 7 July 2020 at 5.00 p.m. (Australian Central Standard Time) (the "General Meeting").
The purpose of the General Meeting is to ratify the recently announced share issues in respect of the placing for A$970,000 and the potential acquisition of American Vanadium Pty Ltd (AVU). The General Meeting will also propose the issue shares to certain directors in lieu of cash payment for director's fees for the period from 1 January to 30 June 2020 (Remuneration Shares) and of incentive options to the directors. Further details on each of the resolutions, including the issue of Remuneration Shares and the options, are set out below.
In the light of the impact of Covid-19 and following the introduction by both the UK and Australian Governments of restrictions on the number of people who can attend meetings, the attendant social distance rules and allied matters, the general meeting will be held in Australia with only two directors or senior employees present each of whom is either a shareholder, or a proxy, or a corporate representative appointed by a shareholder. No other shareholder, proxy or corporate representative should attend the general meeting in person. The attendance by a shareholder (other than the ones specifically required to form the quorum for that meeting) is not essential for work purposes. To ensure that their vote counts, shareholders should only appoint the chairman of the general meeting to act as their proxy.
Should changes with regard to the impact of Covid-19 be announced by either government before the general meeting, the directors will consider those changes and the impact on the proposed general meeting. Any proposed changes will be announced on the website.
The purpose of the General Meeting is to consider, and if thought fit passing the resolutions contained in the notice of meeting.
Resolutions 1 and 2 provide the directors with the appropriate authorities, respectively, to issue shares and dis-apply pre-emption rights for existing shareholders. Resolution 1 is a requirement under English company law where the Company wishes to allot new securities; resolution 2 is a requirement under English company law where the Company wishes to do so for cash without first offering those securities on a pro rata basis to existing shareholders.
Resolutions 3 to 8 inclusive relate to a A$970,000 capital raise, announced on 1 June 2020. Each resolution is detailed further below:
· Resolution 3 seeks shareholder approval to ratify, under ASX Listing Rule 7.4, the issue of 140,000,000 ordinary shares (Placement Shares) that were previously issued within the Company's placement capacity under ASX Listing Rule 7.1, on 5 June 2020. The ratification under ASX Listing Rule 7.4 has the effect of refreshing the Company's placement capa
I just don't get what he says these days, the words are English and that's about it.
Thank you. I went on to the london se rns bit and got all excited!! they only have 4 from today on there and I didnt realise as there are usually pages when I have looked. Thanks.
Skin, no worries, lost track myself at the moment. ATB
SORRY-this was from yesterday -
RNS Reach
Non Regulatory RNS Reach Announcement
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Uranium Acquisition Q & A
THOR MINING PLC
Released 07:00:06 17 June 2020
RNS Number : 2103Q
Thor Mining PLC
17 June 2020
17 June 2020
THOR MINING PLC
Q & A - URANIUM ACQUISITION
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR) is pleased to release the following Q&A document which reflects some of the questions received from shareholders following the Company's recent announcements in respect of the proposed acquisition of uranium & vanadium focussed claims in the USA.
Q What impact will the acquisition of American Vanadium have for the cash and funding requirements of Thor Mining?
A The cash commitment for the acquisition of American Vanadium is A$50,000 in cash, plus A$194,000 in shares, including the exclusivity fee, already paid. There are additional vendor payments which will be required on reaching some project milestones, however these payments are in shares, not cash, and the nature of those milestones are such that if the issue of those additional shares is triggered, they will be based upon significant positive project progress.
The funds we raised in the recent placement, and the funds expected from the forecast sale of our Spring Hill royalty entitlement are expected to be sufficient to meet our envisaged project expenditure for these new assets, and also our copper, gold, tungsten and molybdenum projects for the balance of this calendar year.
Q What attracted Thor to these Assets?
A There are three particularly positive features of this new initiative for Thor.
1. The fundamentals for the uranium market are very good right now. Global demand during 2020 is expected to exceed supply in 2020, and importantly the US administration has initiated a program of acquiring a locally sourced stockpile of uranium fuel for its power generation needs of US$150million. Remember the US is a significant consumer of uranium in its nuclear power generation (comprising 20% of total power supply) but produces very little of its fuel for this domestically.
2. The project claims are in an area of historical high grade production. The best place to locate high grade resources of any commodity is very often adjacent to areas where high grade mining has historically happened.
3. There is a processing plant close by, which;
a. Has significant spare capacity
b. Has historically acquired and / or toll treated ore from mines in the region for processing and conversion into saleable uranium and vanadium concentrates.
While we do not have an agreement with the operators of this facility, it is our intention to approach them, and if successful the capital cost and regulatory hurdles for development of a simple mining activity, followed by ore haulage to an existing processing facility are significantly reduced.
Q What are the implica
agreed
The Spring Hill deal is the sale of future royalty income for a capital sum which helps to provide finance .
Just need a few spare drill bits, rechargeable drill & battery pack, clipboard, pens and some bus passes don't we? Shouldn't cost too much.
funds for this calendar year?... hardly a company making deal in process at Spring Hill then...
key words there are EXPECTED & SHOULD, I'll be keeping my eye on this though
The funds raised from the recent placing and the expected funds from the sale of Spring Hill should cover the planned expenditure for the rest of the calendar year according to today`s RNS . This must be good news and I can see why Metal Tiger have supported them in thie latest placing as the American uranium /vanadium prospect could be a company maker . Our gold interests are in the exciting Pilbara area in Western Australia also add to the excitement.
That’s made me chuckle !! Very funny ! For the life of me I can’t understand why MTR, where I have a large holding, either take this over sack the BOD and get this moving or same again and put the assets up for sale. I keep looking but all the time I’m thinking that an investment is just going to dwindle away; I trust MTR 100% but I’m still amazed that they haven’t made an offer to buy the whole thing.
https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200616-visible-mineralisation-in-us-uranium-and-vanadium-samples.pdf
RNS 7 am I expect. No doubt Mick's now selecting the correct bit for his Black & Decker for the nxet stage.
Bought in this morning.
Forget about tungsten -copper and uranium -focus on the Pilbara . Thor will be back on site -helicopter assist programs -gold -nickel. The Pilbara is on fire -huge gold discovery by De Grey in intrusive related mineralisation never seen before. A stock that has gone from 5c to 63 c in a few months with a market cap of $700 million +. https://www.asx.com.au/asxpdf/20200609/pdf/44jgvldd2c5ndb.pdf Stay tuned - I also have a lot of adjacent ground pegged. If you are a Thor shareholder will pay you to research all the players in the Pilbara -like KAI -GSM which has 5 bagged - Good Luck
The ground we put into Thor has rock types that are highly prospective -
Yes,, I'm one of them PW. In too deep,, 90% loss,, been here years too long. Too much invested to run for the hills. :<((
There is also quite a few people who would like to bury this dog and move on !
https://www.proactiveinvestors.co.uk/companies/news/921235/thor-mining-says-due-diligence-on-american-vanadium-going-well-921235.html
All they need is one project up and running and this will finance the others. I think now is a great time to buy THR and lock them away.
Ore, and Ed seemed such a nice man
at least they didnt buy into ed sloweys orogen gold,like we did,back in 2011.
.
mtr?...probably the the oxide copper license m8,mtr like copper,they dont seem to be interested in tungsten/tin