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We shouldn't blame Nicole for selling POW shares; she's doing it to protect us, by delaying the next fund raise.
There's then a separate question about the price she accepted for Pilot Mountain, which looks to have been too low.
I'm not happy that Paul Johnson, Artemis and Metal Tiger have exited (as noted by Snooz); but the quality of the assets should see us through. In particular, we need to get the Alford copper into production, using ISU. And to get Molyhil into production; it's had a feasibility study, and is commercially viable.
Rolarcoaster the point batman (love the name ) was making was he believed thor was selling pow shares.
You disputed that , it wasn't about love for p.j or how well pow will be doing , wasn't saying thor will as a consequence now do bad etc etc
Simply thor are selling pow shares, as a thor sharehilder don't you even want to know why
And for what is worth I'm right behind p.j and his model at pow , and I too want thor to clear out as will stop the selling that they are doing and we can push on at a quicker rate
In my opinion of course , but as I said the original message was thor is selling no other reason
Thor’s share price has been lower than this and recovered I’m not worried roll on the uranium drill results.
Thor are for certain selling POW shares - Read the latest Thor quarterly news release. They are down to 35.1mil POW shares as at the last quarterly report dated 30/09/2022. That means they have been selling POW shares sub 1.5p. More shares become available to sell as at 31/10/2022 and based on the POW sells a block seller is clearly in the mix which can only really be Thor Mining.
If Thor sell down their entire POW holding at these prices, then Thor have effectively sold PIlot Mountain to POW for about £800,000 ... I would not be happy with that one bit as an investor! Fuming in fact!
I'm a POW shareholder and more than happy with this deal from POW's point of view. Just waiting for Thor to finish up so POW can continue on it's recovery.
As for Thor, they clearly need the cash and are unable to raise at 0.4p levels favourably. Looks like a tough road ahead unfortunately.
Thought the same myself, PJ killed our sp with his sly selling while posting THR love letters all over socialmedia. Id like to see Thor sell all POW just to give PJ the bird.
Bonkers PJ is partly to blame for Thor’s poor share price performance after years of ramping while sneakily selling shares, I would not get married to the POW share and have one eye on an exit strategy.
Now I’m not saying the POW share is not going up for a while what I am saying is take what he says with a pinch of salt.
Rollarcoaster , thought i would pop in and see what the opinion was here regarding this. Here's a a post from pow poster earlier.....
The seller appears to be Thor Mining ... I have just read their quarterly report dated 30/09/2022 and they are down to 35.1mil at that point (they received 48.6mil from the sale of Pilot Mountain + 4mil shares for the early tail benefit settlement)
From their 30/09/2022 quarterly report:
"The Company reports net cash outflows from operating and investing activities for the quarter of $840,000, comprising inflows of AUD$350,000 from the sale of Power Metal Resources Plc (POW) Shares and $293,000 from the receipt of government grants and total outflows of AUD$1,483,000. AUD$1,313,000 of the outflows related directly to exploration activities.
Thor holds a further 35,118,920 POW Shares with a mark to market value of £474,000 (approximately $846,000) based on the closing price of £0.0135 for POW Shares, as traded on the London Stock Exchange on 27 October 2022. Approximately one third of these POW Shares are freely tradeable, with the other third being released from escrow on 31 October 2022 and the remaining third being released from escrow on 31 January 2023."
Would appear the next batch of shares available to trade from 31/10/2022 are now getting dumped. Based on current prices and the assumption that some have been sold closer to 1p than 2p, Thor will have about £800k cash to show for the sale of Pilot Mountain with no tail benefit and 12.5mil 4p warrants (they will cost Thor £500,000 to convert!). ... As a Thor Mining shareholder you have to be very upset with that outcome!
POW boxed off the Thor Mining deal for Pilot Mountain when prices were around 1.75p .... bottom line here is that POW took that Pilot Mountain asset for less than £1mil including the tail benefit being settled early. That asset has now been put into GMR and I reckon POW's circa 50% investment once GMR goes live will be worth approx £5mil in the next 6-12 months easily. PJ with yet another financially savvy deal and the market still doesn't wake up to POW!
POW's balance sheet is building by the month and POW can therefore raise on the market on favourable terms at all times. Thor Mining down to 0.4p and it is almost impossible for them to get away a decent raise .... PJ financially positioning POW so that POW's financial decisions are in our hands all times. Fantastic work so far by POW and the market should really be taking note of this in my opinion.
Thor still hold 53.1m million shares just a tad over 3% of the company and just 30m shares less than PJ. There is only one top shareholder that’s been selling power metal and it’s not Thor.
Hard to shake empty branches
A shake.
Mate of mine is on the pow telegram group, according to them they are adamant thor are starting to sell a load of thier shares.
Why would they do this other then clearly needing the money
I thought I bought in at the bottom, it's hovered around it fit months but what's this ****
Whether it's good, bad or indifferent who knows, but as a long suffering shareholder, I'm hoping for a modicum of good news.
There's a lot of news to come out in the near future, that's all I'm saying.
Since when was stating the blindingly obvious 'bashing'? Give me realism over denial any day.
Molybdenum at 46.50 yoy high,
Uranium spot price has to rise to at least $75 lb or the lights go out,
All eyes on China reopening in 2023 that wold give Dr copper a boost,
Also the US Dollar is about to tank which is extremely bullish news for commodities.
Interesting to see the bashers getting in early.
Maybe mm's are playing games and having a tree shake.
When are the Uranium drilling results due?
'It takes around 5 yrs from making a commercial find to production and requires support from one of the majors to finance it.'
Ive asked elsewhere do we need someone who is not a geologist but a very good negotiator to get us a good deal with a major?
Im sitting on 60% losses here, Im more annoyed at not being able to buy more shares at this price than the actual drop itself.
At some point the copper play is going to become the rising tide for this SP.
Sentiment has turned against these small exploration stocks.It takes around 5 yrs from making a commercial find to production and requires support from one of the majors to finance it.
Whose selling? The ones that realize this is a lifestyle company. Always has been always will be. I expect another placing soon. Look out for the "This has such a low market cap ..." brigade to pump it for the flippers. IMO.
So whose selling here and why?
Hi, Paul
Probably not yet. There are still some POW shares to sell.
got to be a dilution on the cards ?
A change of focus to Uranium would be the Christmas present I want!
Change of address for Thor's office address (6 The parade SA 5067)
Looks like there is plenty of office space, several offices, maybe just maybe Thor are thinking
of starting to take on staff got to be a good sign.