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Hi, Orion
Thanks for this. I'm pleased your still commenting on Thor.
Best wishes
I was the vendor of all the tenements to THR which I named Ragged Range . Mick Billing took note of my research on the Kelly’s area and Nicole has embraced the concept and implemented an aggressive exploration program.
Nicole is a brilliant geologist – if anyone can come up with a major discovery she will -unlike so many companies THR under her guidance is a genuine explorer -not a Mickey Mouse lifestyle company.
This also looks mighty interesting along strike to the north with E 46/1367 - additional ground I pegged and sold to QXR.
I predict a significant copper /gold discovery possible in the Boobina porphyry !
Thanks.
GL.
https://www.proactiveinvestors.co.uk/companies/news/1000478/thor-mining-says-it-identified-high-grade-copper-and-gold-at-kelly-s-ne-prospect-of-ragged-range-1000478.html
cliveas....about 3 months,for assay...due to big backlogs in australia,this year
Quick question for the more experienced on here :
How long , roughly , should we expect to wait for the results of the RC drilling started in October?
If good I expect to test .5 again and would like to time my position.
Thanks in advance.
GL.
Positive RNS.. lets hope 2023 brings in some money.
Looks like the markets are reacting well to the news!
#THOR - Thor Mining PLC
Discovery reported today, for high grade gold and copper at Kelly’s prospect
The Ragged Range Project, located in the prospective Eastern Pilbara Craton, Western Australia, is 100% owned by Thor Mining, comprising 92 km2 of exploration licences
The company also has Uranium exploration licences in Colorado and Utah in the United States
Last week placing announced for $2.65M, taking cash runway to $4M
Cash will be used for drilling at the Kelly's and Krona gold, nickel and lithium
Big future ahead!
Backed up by an RNS here, very encouraging copper grades, the hold and silver icing on the cake!
News out from ASX. Rock chip samples show high grade copper & gold.
Very silly in my opinion. Pow has quite a few promising explorations going in great jurisdictions. Molopo farms could be company transformational not my words but words from PJ. POW has 14 projects going and mathematically they are more likely to find something than thor is. Thor just raised 900000 pounds via placing so whats the rush in selling pow shares. Time will tell but i think its a mistake.
Seems they are going in heavy on the Uranium play and the copper play will rise in the tide.
The question is, what if the Uranium play fails?
"Which do people prefer, a dilution or sell POW shares or the lights go out?" - Seems like a great investment case in Thor at the minute when price is down at these levels. Thor simply the distressed POW seller and the block selling is having a massive impact on the POW price. Pilot mountain purchased for circa £900k by Thor, Thor spent a good few million on that asset over the years and sold it to POW for what looks like about £750k cash once the POW equity selling is done.
Thor's managing director has confirmed "Thor is an exploration company focused on advancing our assets to create shareholder value, we are not looking to hold or accumulate equity in other companies." - That would suggest to me that all equities are in the process of getting sold (the last 12mil POW shares are available to sell from Jan 2023 onwards, the other 40mil Thor originally held are free to trade and are getting sold currently).
Big dilution from the recent raise and no holdings in other companies moving forward from an investment perspective - very risky business model for Thor moving forward now after the latest financial decisions by the board in my opinion.
Sold my shares in POW at 2.1 a while back. I have no regrets.
Seems like a POW agenda going on here on Thor BB. Thor have sold some shares in POW, but not all, we don't know if they've sold more. They are limited to how many they can sell, so to same they've dumped the lot is incorrect.
Which do people prefer, a dilution or sell POW shares or the lights go out?
It would seem pretty much the only thing holding the POW share price back is the selling by Thor. Seems very short sighted,possibly foolish.
Next summer POW shares could be worth less than they are right now,
Hi, Bonkers
I agree. Selling POW now seems silly to me.
It also shows their poor financial situation , selling all their pow shares before impending news regarding Tati, molopo farms and ipos is madness , waiting a few months they I my opinion would of got more for their money.
Selling now comes across as desperate
Selling not seeking.
Not liking the update on my phone, its a pain in the ****
Good job they are seeking them otherwise the raise might have been more.
Emailed Thor Mining last week to see if they could provide any commentary on the selling down of POW shares after I noticed that they had been selling POW shares in their quarterly report figures… I received the following:
“Thank you for your email.
As you are aware we received the Power Metal (POW) shares through the divestment of Pilot Mountain, so to us they are cash.
Thor is an exploration company focused on advancing our assets to create shareholder value, we are not looking to hold or accumulate equity in other companies.
Hence, we will continue to sell the POW shares as required to progress our exploration programs.”
So for those unsure about what Thor Mining are doing with their POW shares and other equity holdings ... Thor will shortly be selling the lot in my opinion based on that response.
U.S. developing domestic uranium strategy -energy secretary | Reuters
https://www.reuters.com/markets/us/us-developing-domestic-uranium-strategy-energy-secretary-2022-10-26/
What pi55ed me off is that the PP participants were not even ready to keep the same share price but wanted a huge reduction !!! Total lack of faith IMO.