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Looks like they'll be able to spin this out for a good few more years.
Think all markets have been spooked by the crisis unfolding in Ukraine, so depending on how long it goes on for the more uncertain the markets will be.
Well, looking at the Aussie boards, after the announcement the price dropped 20%. Probably the same will happen here. Its complete bonkers that shareprice drops after what appears to be good news. Absolutely madness. Another great example of BS when investing in stocks and companies you actually believe in... Fingers crossed we can actually see a sensible reflection in the price. I dont think I could take another significant drop here...
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"The success of our first phase of drilling, with significant uplift in copper and gold grade, adjacent to the Netherleigh Fault, is very exciting and suggests the potential for extended zones of higher-grade copper and gold along strike and at depth.
Demonstrating Thor's greater understanding of the geological and structural constraints through the new geological modelling is critical to the overall project's development, especially as we plan our second phase of drilling and progress our hydrometallurgical studies.
These favourable initial hydrometallurgical results for the metal recovery for both copper and gold using a socially and environmentally friendly solution 'glycine' rather than conventional acid in-situ recovery (ISR) is significant, as Thor strives towards the in-situ assessment of the Alford East Project."
Given the cut-off grades for "more expensive" conventional mining techniques I'd say they have a pretty interesting mix of both good and bad grades but overall acceptable in a group deal. Be interesting to see what they do extract from this once all planned out (not to forget the bonus gold wash as well which is still going up in value.) Given Chinas current strangle strategy on Tungsten going to AUS be interesting to here something on that now as well given the following with mention to THOR. https://stockhead.com.au/tech/wolfram-at-the-door-why-china-has-a-tungsten-fight-on-its-hands/
This link will take you straight to the release,
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02489380-6A1078103?access_token=83ff96335c2d45a094df02a206a39ff4
Project highlights:
? Significant intercepts including:
21AED001 32.9m @ 0.4% Cu and 0.31g/t Au from 81.5m (ASX:THR 31.8.21),
21AED002 59.9m @ 0.3% Cu from 21.9m (ASX:THR 31.8.21),
21AED003 32.4m @ 0.2% Cu from 15m,
21AED004 55.9m @ 0.53% Cu from 7m, including
11.7m @ 1.0%Cu from 17.3m including
5.7m @ 1.23% and 0.16g/t Au from 17.3
21AED005 72.7m @ 1.0% Cu and 0.19g/t Au from 6.3m, including 18.2m @ 2.0% Cu and 0.34g/t Au from 15.8m (ASX:THR 31.8.21),
? A robust 3D geological model generated from recent drilling data highlights key structural and lithological controls on mineralisation and potential high-grade target zones.
? Initial hydrometallurgy trialling of an environmentally friendly glycine lixiviant shows
positive gold and copper recovery.
? Phase two diamond drilling program is being designed, including continuing
hydrogeology and hydrometallurgical studies.
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
“The success of our first phase of drilling, with significant uplift in copper and gold grade
adjacent to the Netherleigh Fault, is very exciting and suggests the potential for extended
zones of higher-grade copper and gold along strike and at depth.
Demonstrating Thor’s greater understanding of the geological and structural constraints
through the new geological modelling is critical to the overall project development,
especially as we plan our second phase of drilling and progress our hydrometallurgical
studies.
These favourable initial hydrometallurgical results for the metal recovery for both copper
and gold using a socially and environmentally friendly solution ’glycine’ rather than
conventional acid in-situ recovery (ISR) is significant, as Thor strives towards the in-situ
assessment of the Alford East Project.”
Just released on the ASX...
https://www2.asx.com.au/markets/company/thr
Interesting, as the Uranium permits at 3 X Wedding Bell sites are due from Colorado Dept of mines with latest Decision Due date on the 18th March.
There may well be additional reasons for the visit but I know that Thor will be speaking/exhibiting at the Master Investor Show on the 19th of March in London.
There is more chat in this share then Trades, ha ha waiting 1.40 P +
expru - forgot to thank you for your service! I always remember my navigation classes as a cadet with a chief petty officer who was an amazing character. We also got guidance on how to navigate life, callow teens that we were! Stayed a civvie but have friends who served in the Marines, SBS, and Navy Seals.
Our brave soldiers, sailors and airmen are lions led, alas, by donkeys.
' Putin continually said no invasion'
And you believe him?
Putin who orders the immediate arrest of anybody who tries to stand against him in elections and who sends his henchmen all around the world to poison his enemies.
Yeah, I'm hanging on his every word.
In Thor relevant news the hamfisted handling of energy policy in the West has made clear the glaring need for non-renewable based baseload power supply, which has to be fossil fuel or nuclear at this time. Nuclear is zero carbon so is a better alternative for governments who have hamstrung themselves with zero-emissions targets (unlike India and China). Until thorium reactors get commercial (at least a decade away) that leaves uranium as a nuclear fuel in demand, and Thor in a good place. Imho.
The Biden-Harris administration seems more interested in protecting Ukraine's borders than their own, probably due to the deficient socialist thinking that the more government dependent folks they ship in, the more votes they will get long term. The $6 billion tank deal just signed with Poland also has nothing to do with I am sure, but you can see the Miltary Industrial Complex puppetmasters need a new corpse on which they feed now their genius military strategist and humanitarian Biden has abandoned Afghanistan to the terrorists.
Chinese Pres probably asked Russian Pres not to invade until Chinese Olympics are over - they are over today so standby for tomorrow!!!!!! Putin is not to be trusted - Ping is not to be trusted and Boris and Joe are certainly not to be trusted.
It's okay for them to make life and death decisions - it's not going to be their death!!!!!!!!
I must say I'm ex RN with medals for service in war zones : )
Look at what has been said Belarus/Russia 10th /20th major military manoeuvres mainly in Belarus ,since 10th feb (commencement ) war imminent claims from every so called western politician and of of emotionally driven press !!! Putin c ontinally said no invasion !!obviously not heard by Boris et al ,not to mention the clown in the white !! 20th Today last day of manoeuvres !! Hold your council don’t behave like headless chickens !! We all know who that applies to !! Let’s see what happens next !! I expect like the last 10 days NOTHING .
Why is there going to be a war in Ukraine?
It'll be interesting to see how Thor share price responds to a general market downturn (caused by war in Ukraine). My guess is we'll hold up OK. Thor's profits will not be affected; we don't have any profits.
Looking forward to when they start the leeching tests and provide that all important financial viability proofing. https://twitter.com/ThorMining/status/1494454806861295623?cxt=HHwWjsC9_dKur70pAAAA
I recall they trounced Scumbag College in University Challenge
Presumably also to meet Mark Potter, the chairman, who as far as I can make out is based in London, or at least somewhere in England. Took his degree at Trinity, Cambridge.
Hi Imp2, meeting with investors and advisors.
Hi, Illaquens
Do you know why she will be in London? It's not for the AGM, that's in November.