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I should imagine the raise will be around 0.7 cents. It’s clear to me the company will refocus as a uranium play going forward. Results due from the drill program must be due soon
Hi, Beau
If you look at the trades going through, the spread is certainly not 28%. People are selling at 0.399 and buying at 0.4233 (which is about 6%).
Buying after a fund raise usually works out well. The share price staggers sideways at the level of the raise for about two weeks, and then starts to recover. The problem today is that we don't yet know the price of the new shares; so if I was going to buy, I would wait until Monday or Tuesday, when we will have the info.
As painful as it is there is progress.
All eyes on ragged range.
From looking at the price action in POW over the past few months, the main reason why the POW share price is not much closer to 2p is because Thor Mining have been selling down a significant chunk of their POW holding. From the quarterly report dated 30/09/2022 Thor's holding dropped from 52.1mil to circa 35mil. A new batch of POW shares became available to sell from 31/10/2022 onwards so I think we can assume some of those shares are being sold down too.
Thor paid £925k in an equity deal for Pilot Mountain and they have raised a few times over th e past 7-8 years to push the project on. Selling POW shares at circa 1.5p a share would bring in circa £750k and therefore crystalise a loss on the project. I guess Thor still hold 12.5mil 4p POW warrants moving forward, but it doesn't look great especially when members of the Thor board are talking quiet loudly about the importance of Tungsten assets.
Agree with a few posters on here that POW are pushing on quickly and it would be good for Thor to keep hold of at least some POW shares. I feel this may be the case moving forward on the sale of some of these POW shares was simply to keep the lights on before the raise was completed.
Assuming Thor can only raise at 0.3p, for every £1mil raised at these levels would equity to 333mil additional shares or circa 17% dilution. A tough one to take for current shareholders.
Down another 11% as I write this and a massive 28% spread.
Hardly a tempting backdrop for new investors.
There is a strong possibility that the expected newsflow at POW will send it's share price substatially higher, in my opinion to sell them now is reckless. The raising of funds now, even just to negate that senario is positive.
Is the CR a bad sign for upcoming drill results? If they expect great results, raise after them...if poor raise now...
...only my opinion, still holding long term.
Perhaps Nicole intends to hang on to some of those POW shares for a few months, given the newsflow there.
I was thinking around that figure dcgc, proably best to get the raising out of the way to remove any financial uncertaity. If the uranium prospects or ragged range are fortunate enough to be proven up then it won't really matter what price the funds are raised at .
Only just bought in and THR sp continues to slide! Did I jinx the stock or is it the usual story of small thinly traded mining stock? Fortunately my stake a modest one but it is still annoying given I did some research and took a look at THR on the FT site etc. Wait and see.....
My guess would be around 0.35p.
Sounds like loads of jollies to the USA for the. Maybe a bit of Christmas shopping soon. 0.2p for the raise is my guess.
Not a good climate or time to be raising money. Needs a very bullish statement with regards to the uranium drilling to get this away at a reasonable discount to current price.
That aged well
ASX trading halt pending a fund raise.
Interesting times.
Given when this was streamed (10 hours ago from post) NOTHING indicates the need for a raise right now - notice the answer to the funding of ongoing projects - https://www.youtube.com/watch?v=cw5Q76qCOPM
Has to be something to do with progressing Ragged Range, From today's RNS:
"The Molyhil divestment and Bonya sale reflect the Company's focus on our priority US uranium assets and the multi-element Ragged Range project, where we see the most significant and nearest-term value potential within Thor's portfolio."
Why do it now, before any significant news about Uranium or Gold prospects is released?
Thor Mining PLC (“Thor” or the “Company”) (AIM, ASX: THR, OTCQB: THORF), requests a trading halt be placed on its securities immediately, pending an announcement to the market in relation to a capital raising.
Thor is not aware of any reason that a trading halt should not be placed on its securities. The trading halt is expected to be lifted by no later than commencement of trading on Tuesday, 29 November 2022, pending release of an announcement by the Company in relation to the capital raising.
This request was authorised for release by the Board of the Company
Just announced on ASX
Thor market cap is under 10 milion gbp. Yet there is a 8 million aud potential investment partnership. Am I missing something? How much are the rest of the assets valued at????????
https://thormining.com/investor-updates/a8m-farm-in-funding-agreement-to-accelerate-molyhil-project/
It's difficult to know how good, bad or OK the deal is, but it is a deal and I'll give Thor the benefit of the doubt, and accept that it was the best they could get. The only thing I'm disappointed in is the reaction both here (so far) and on ASX, but I see it as definite progress.
Investigator’s Managing Director, Andrew McIlwain commented:
“Whilst our key focus and priority remains on driving forward Investigator’s 100% owned
Paris Silver Project - Australia’s highest-grade undeveloped silver project – we have continued
to look value adding opportunities to diversify through acquisition of an advanced
project and leverage off our experience and skillset.
“The opportunity to earn-in to Molyhil is seen as one where we can utilise our skills and
experience across key areas such as stakeholder engagement, resource definition, and
project finance and development. Personally, I ran the Los Santos Tungsten Mine in Spain
for a number of years, which was divested into TSX listed Almonty Industries and sat on
their board as a founding Director. I have also had 15 years of NT exposure as Chair of
Emmerson Resources.
“Through our comprehensive due diligence analysis, we believe that value can be added
to the Molyhil Project with a re-evaluation of the existing resource, revision of the proposed
processing route and recasting the project execution model. With the staged approach,
it is anticipated that, if deemed feasible, a commitment to development would be
made early in the third and final stage of the agreement. We expect that there are a number
of potential financing facilities that would be available to support the advancement of this
project.
“Demand has seen the tungsten price rise over 50% in the past year. Tungsten is an essential
industrial metal unique in its hardness and utilised in aerospace, steel hardening,
cutting and drilling, armour plate, electronics and jewellery. As a rare and valuable industrial