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2 ut trades today both above the offer at 1.185p
We need BIG nuggets ........and lots of them come on hurry up please
Not what I wanted. But not unexpected.
Just tell us there's gold mick and lots of it and then drill baby drilllll.
Can't afford anymore. So still happily holding.
Nice!
These guys are planning on drilling expanding ragged range as they know it's going to be huge!
DMTHR
RNS Number : 1690G
Thor Mining PLC
23 November 2020
23 November 2020
THOR MINING PLC
PILBARA GOLDFIELDS RAGGED RANGE PROJECT
ACQUISITION OF ADJACENT EXPLORATION TENEMENTS
The directors of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR) are pleased to advise that it has signed a non-binding Term Sheet for the acquisition of additional licence areas adjacent to Ragged Range in the Pilbara region of Western Australia.
Highlights:
-- Two additional licences (E46/1340 and E46/1354 (application) include areas over, and surrounding, historical small scale gold and copper mines.
-- Total Thor Pilbara licence area, including 73 sq kms under application, totals 213 sq kms.
-- New licence area increases the Thor exposure to potential granite contact deposits, complementing the mafic/ultra mafic contact exposure dominated by the 13 kilometre gold zone previously reported(THR:ASX 21 October 2020).
-- The newly acquired tenure is considered highly prospective for shear hosted gold mineralization along the granite contacts to the north and hydrothermal copper mineralization associated with the felsic porphyries intruding the mafic Euro Basalts in the north- east.
-- Anomalous historic stream sediments include up to 76ppb gold with 240ppm copper (Sample 2430)(1)
-- Data review over the newly acquired ground continuing, with field programs planned for early 2021.
-- Airborne magnetics data has been received with magnetic interpretation in progress.
-- Stream sediment samples from the October field program are still at the laboratory with results now anticipated early December.
(1) Open File Report A050141-Great Southern Mines -Surrender Report
Mick Billing, Executive Chairman of Thor Mining, commented:
"We are delighted to be able to add to our holdings adjacent to Ragged Range where we have made very encouraging progress this year."
"The eastern portion of the newly acquired area hosts sites of historical small scale gold and copper mining, however there has been very little modern day exploration of this area."
"We expect shortly to have assays from the October sampling program where we also recovered visible gold via panning, and are also working on interpretation of the data from the recently completed airborne magnetic survey, which is aimed at refining gold and nickel drill program planning."
A map showing the acquired licence area, and its proximity to the Thor Ragged Range project can be accessed from the Thor website via the attached link:
www.thormining.com/sites/thormining/media/Maps/rr-extended.jpg
Acquisition Terms
Thor have executed a non-binding Term Sheet with Redstone Metals Pty Ltd and associated parties to acquire a 100% interest in each of E46/1340, and E46/1354 (under application). Acquisition consideration comprises:
-- Initial Consideration
-- 12.5 million ordinary shares in Thor;
-- 8.333 million options to acquire Thor sha
It's the RNS from Friday but Aussies getting it this morning.
Makes me think it'll be another week before we hear about ragged range
More copper/gold coming:
https://hotcopper.com.au/threads/ann-new-copper-gold-project.5771498/#post-49060010
The positioning and future thinking diversification is top class. News must be very close now.
Not sure about you, but I'm invested here for the future, not the past.
Gumtree
What masterclass is this on, given Micks past ??
Having said that , THR has good potential.
Copper with gold, fits in with the dissolving minerals underground in a solution before extraction, seems like their loading the table before playing their hand which could be industry changing - RE BSG past is past unless repeated. Sadly though Supernatural after 15 years has now come to an END, luckily Jack Daniels is providing appropriate honeyed support.
Bad Smelly Gas, filtered out.
Mick's the man, bsg go back to CBBC your wasted here
Mick is giving and absolute master, class this is all happening by design.
Loving this little Aussie!!! you beuty!
I think he probably bought in back in Feb 2018 and has lost a **** load, poor guy.
I can never understand why someone is so consistently negative on a share forum
Either they own the share and are trying to damage their own investment, or they don't own it and their choice of leisure activity is trying to make other people doubt their investments. Neither option reflects well on the poster.
Exploration companies need to have multiple projects / tenements. That's how it works and when one comes good you make 10x.
Often when new opportunities purchased by THR it means the current lot are dead ends and Mick needs more excuses to place and drill....
121...I have a sneaky feeling your onto something.
Good news imminent on survey I think.
(Hope)
Gkb47 I think ragged range is basically nearly there and in my opinion I feel that they are are making arrangements for drilling there with potentially having income to fund this project.
Just my opinion
Could proove to be a masterstroke decision, If they've got the gold results and can see how much money they could make I can then see why they will be looking to increase exposure to copper. Gold and copper and rising substantially and I look forward to what the next year brings!
It's a very cheap IN. Low initial cost to securing rights.
Can always walk away if money becomes tight. But if pilbara or elsewhere works out shorterm, they can fill their boots.
Happily holding.
Looks like a good acquisition and super cheap considering what is already there...
More plates to keep spinning!