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'Never fails to disappoint. Well done THR!'
Give it a minute and the 'Just topped up at these prices' crowd will arrive. Good money after bad.
Low grade gold deposits. Enough said.
Never fails to disappoint. Well done THR!
I just cleared out - if only it was £60 for me.
Ever think you've been had?
Out first thing and at the mercy of my bank with ‘at best’ deal….I got off lightly. Only lost £60.
Couldn't have put it better myself. What a S&*&^%hole the AIM is with companies like this :-(
Yet another red line in the portfolio with no hope of recovery
AIM is horrible... I cannot wait to get my hard earned money out of such a cesspit of corruption and 'leaks'. Problem is, my hard earned money is getting wiped out by pi55 poor performance of Thor... Mechanical issues? Really?
Project highlights:
· Due to mechanical issues, only 50% of the planned maiden Reverse Circulation (RC) drilling program completed at the Sterling prospect.
· Significant sulphides (pyrite, chalcopyrite, sphalerite), quartz veining and sericite-pyrite-fuchsite alteration identified, characteristic of gold mineralisation in the East Pilbara Craton.
· Low grade gold in 3m composites and pathfinder elements will assist to vector in on stream and soil gold source.
· Thor is targeting Archaean structurally controlled lode gold mineralisation hosted in basaltic and ultramafic rocks of the Warrawoona Group, within the 100% held Kelly greenstone belt.
· Thor plans to complete the planned drilling program at the Sterling prospect whilst undertaking further geophysics, mapping and geochemical sampling over additional gold, nickel and lithium targets in the project area.
What I dont understand is that they have taken about twice as long as they should have... Therefore, they should still have completed everything in the prolonged time... What a mess
Ahhh Guess that's why the price took a dive days earlier as the info leaked out wink, wink...AIM is bent as....
Oh what a s surprise... Delays... To mechanical issues... Erm, of which I assume should be fixable or replaceable... Watch this sink even further now... Great work Thor
Seriously, what mechanical issues can cause 50% impact? Swap out a machine... hold the machine provider to account... But no... Miss another deadline, 'lots to look forward too' my ar5e...
Summary - there’s no gold there.
Also the slaw of pilot mountain must be one of the worst deals I’ve ever come across, should have been our key asset, instead sold for a pittance. Sorry to be negative but I’m done here.
https://www.mining.com/web/lithium-price-hits-ludicrous-mode-as-battery-metal-extends-400-gain/
That fact should have been related to whole market at time and not just their mates.
It's patently obvious now why the sp has been allowed to slide so low.
Dissapointed in management.
.... I'm sure bsg et al will have a field day.
Not a deal breaker, but I'll be holding off investing any further.
Once again lithium mentioned at Ragged Range!?
I only care about the uranium permit - receive that and the share price will run hard....
Rig breakdowns, mean 50% of targets still to drill.
Tweet from Paul Johnson re: Pilot Mountain
https://twitter.com/pauljohnson9691/status/1485603775633149954?t=ZnPOdjZfOMtRfgshjA7Y1A&s=19
I guess the £115k up front cash and £1.65m in equity remains the same. I guess up front cash from an adjusted tail benefit if used for current drilling can be better utilised then so be it.
It comes with a huge amount of Power Metal shares and warrants, cash upfront with the ability to make more on the holding in future rally's. Seems useful for Power to mininise upfront capital outlay and useful for Thor as it opens up the opportunity to make much higher returns if they believe Power can run alot higher.
I think the view is that Pilot Mountain is total rubbish so any cash / shares upfront is a bonus!
From Nov 1st RNS:
Power Metal Resources Plc and its wholly owned subsidiary Golden Metal Resources Ltd ("Golden Metal") have exercised their option (the "Option") to acquire a 100% interest in Pilot Mountain.
§ Power Metal will pay US$115,000 in cash to Thor Mining and US$1,650,000 payable through the issue to Thor of 48,118,920 Ordinary Shares at an issue price of 2.5 pence per share ("Initial Consideration Shares").
§ In addition, Power Metal will issue to Thor 12.5 million warrants to subscribe for Ordinary Shares with an exercise price of 4p per Ordinary Share and life to expiry of 3 years.
So it looks like the sale terms for Pilot Mountain have reduced from £500k to £150k in total. That’s quite a drop but does include £50k upfront and rest in equity. Looks a bit desperate at first look but let’s see.
Regarding sale... easier to read RNS yourselves.
The uranium permit will drive the THR share price. I think this should be finished soon?