Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Gkb
Commodity prices for some of the assets THR acquired in the past were low, so those were kept on hold. Not Mick fault if commodity prices were down 10 years ago.
New commodities super cycle on the up now. So everything becomes much more profitable for THR.
Market looks forward.
Now with the American Vanadium deal secured, Thor are sitting on good assets in stable countries. Yes, there will be more exploration needed and maybe some funding required later next year, but well positioned to move up an onwards.
Bought some yesterday at 0.70 knowing this would be more than 1.50p soon.
Today's RNS was a pleasant surprise. Company did say they got a busy 2nd half 2020. Happening now.
About to pop imo.
gla
GKB
They talking to strategic partners already for USA assets. No issues there in my view. Just enjoy the ride. MCAP here should be closer to 50m in coming months for starters.
Kapunda Gold results next on the cards sometime this month I think.
Kapund & Monta Copper resource at 234,000 Tonnes already....which is huge and with Copper price storming higher. THR perfectly poised with price Upside on ALL commodities we got here.
Pilbara Gold action to start also soon.
Yep, we should soon be moving into a much higher price bracket. This has turned the corner now with Commodities super cycle well timed for the Massive upside here.
Still 99% down over last decade.
The sp will not be like this for too much longer imo. Very low considering what THR have / prospects and mcap.
Position taken before the herd.
gla
Mcap here is so low, with what is ahead on multiple deposits both in AUS and USA.
This should be over +1p minimum even at this stage.
Bigger gains yet to come.
Yep. Vanadium would be the next red hot metal replacing lithium and Cobalt.
Vanadium is not found on it's own, but comes with Uranium deposits. Hence Uranium deposits are a huge plus to get on the books. Supply deficit of Uranium over past decade is only going to fuel prices even higher as the World at large moves to clean energy.
Another 350 Nuclear reactors in pipeline...no brainer.
https://www.australianmining.com.au/features/northern-territory-a-top-spot-to-restart-australian-economy/
“Where Thor Mining stands currently is there is the potential for us to attract some external investment in the project by way of a joint venture.
“Once finance is finalised, I am fairly confident that development and construction for the plant could begin anytime before the end of this year.”
( Need to get that govt grant first though Mick )
Vanadium
Vanadium is an important contributor to improving the tensile strength of steel, with the overwhelming bulk of vanadium demand applied to production of reinforcing steel to add tensile strength to concrete. It is also used in aerospace & has chemical and catalyst applications. More recently it has developed a significant market in battery applications with vanadium redox flow batteries used to store and release large amounts of energy.
China accounts for over 50% of global supply, most of which is co-production from steel ****. Supply is largely constrained by capped co-production capacity, and there are a limited number of global primary producers.
In 2018, China mandated a standard for Chinese grade 3 rebar, substantially increasing the vanadium content of reinforcing steel.
bsg4 ....jog on! de ramping across all boards.
Beautiful. Was expecting Kapunda Gold-copper update.
This is such a pleasant surprise. These are really high grades of Uranium & Vanadium.
Excellent Rns today More news on the way incoming . This is at the lowest. DYOR. GLA
More shares to issue. Man power spread even more thinly. More cash required to drill etc. Will the ever get anything past the finishing line.
9 September 2020
THOR MINING PLC
US URANIUM / VANADIUM PROJECTCOMPLETION OF ACQUISITION
The directors of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR) are pleased to advise completion of the acquisition of American Vanadium Pty Ltd (AVU), including its subsidiaries and uranium and vanadium projects.
AVU holds interests in uranium and vanadium focussed projects in Colorado and Utah in the United States of America. The Company announced on 1 June 2020 an option agreement to acquire AVU, subject to satisfaction of due diligence requirements.
Thor will now proceed with the issue of 24 million Ordinary shares of 0.01p each, in full payment of the Acquisition Fee for a 100% interest in AVU.
Highlights:
· Acquisition of American Vanadium complete.
· Colorado project claims include historical mines with historical production activity over a period of more than 100 years.
· Utah project claims have reported historical drilling with significant intersections of uranium and vanadium.
· Field sampling by Thor during due diligence period showed assay results of high grade uranium (up to 1.25% U3O8 ) and vanadium (up to 3.47% V2O5)
Mick Billing, Executive Chairman of Thor Mining, commented:
"We are very pleased to complete the acquisition of 100% of American Vanadium and its high grade uranium and vanadium claims."
"Thor has a well balanced portfolio of very attractive assets with copper, gold, tungsten & now uranium & vanadium. "
https://www.investegate.co.uk/thor-mining-plc--thr-/rns/completion-of-acquisition-of-us-uranium-vanadium/202009090745024531Y/
Mick Billing, Executive Chairman of Thor Mining, commented:
"We are very pleased to complete the acquisition of 100% of American Vanadium and its high grade uranium and vanadium claims."
"Thor has a well balanced portfolio of very attractive assets with copper, gold, tungsten & now uranium & vanadium. "
Sounds good hopefully pushes us up further :)
The acquisition of American Vanadium Pty Ltd (AVU), including its subsidiaries is complete.
Let's hope it puts some impetus into the SP and we see a good upwards movement today.
Kapunda update- end of Sep / early Oct
Pilbara - anyone got any idea when we expected to go back there for follow up drilling ?
Buys coming in today.