The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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PE, most of the bigger holders with a relationship with SI or other involved brokers will have already have been approached with the terms of the placing!
Thanks PW but who is going to finance the devolpment?
Revamped site,
https://www.thormining.com/
I wonder what the strike price will be and how many warrants will be given, my moneys is on 0.35p with 1/2 warrants at 0.5p.
Anyone else hazard a guess.
yeah,there;s always hope m8.
but if anyones in the banks,monday could be a rocky ride,after the vote.
I just hope for all our sake’s it comes good.
if you go back a couple of years on the rns's....they actually hired a private comp,that deals in aquisitions/sales.....to deal with this molyhill sale/funding
What also sticks in the throat....these are accountants that can’t get finance !
i was just pointing out,some of the assets have matured well past exploration stage and are worthy of being sold....so not worthless
molyhill being the main one,,,,,,https://www.youtube.com/watch?v=PCaEgWVhWLg
even with a short 6 year mine life,which can be extended,especially with bonya
.
as for the bod/cash calls....no comment?
Hi T, I live in Oz so catching on an earlier post. I had a disclosable stake in WRES in 2014/15 but lost confidence in MM with the Bergen affair. Any way c’est la vie. I moved on. I hope it comes good for you.
Hi T, the assets are not big enough to attract finance of any sort. They have tried the beauty parade and have had no takers. Shame but that’s the market we are in. Also mine life not long to justify the project without a further extensive drill program. The shell will become interesting but only when the Board have been fired or if they have the good grace to resign. Not sure MB has that in him though. His flitting around the World on shareholders cash is absolutely shocking and smacks of a cost structure out of control. I was offered shares in the placing but turned it down. Could not see the point unless MB et al went!
your right,i forgot about that,the mine lifes only around 6 years....
.
but you'll find every exploration comp is the same
an exploration programme
then 6 months later,a 10% casg call.
repeated for years,until the assset is sold.
.
that;s the thing,many newbies dont realise this,so after a few years,the sp is continuously being dilluted....lower.
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and obviously,the more assets to service....the more the cash calls
.
anyway,from a traders perspective,theres good money to be made,but only if you can catch the lows.
ime not disagreeing with you on the dodgy goings on,by exploration comps and some of the suspicious actions that go on...
but some of the assets are very good,not many,but take mlyhill for example,about 18 months ago,the sp 8 bagged on the sale/funding news..
and theres a pdf somewhere,in the archives and i cant remember the details,but the payback and profit projections are pretty good.
sml also have a tungsten mine of similar size and grade,with a more expensive pdf.
the coppers ok,but unaffordable
the golds early stage,and will cost a bomb to drill
the nickels not up to much,
the lithiums,ok,
the last two asset purches wernt up to much
copper mountain is good and worthy of a sale.
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so asset wise.....thr does have some worthy assets.....if they went up for sale.
which is why i got in here,the moly sale
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but like bsg keeps mentioning,ive been watching this for 10 years and its been dilluted to death...0ne year,this had 4 cash calls?
I think this is the latest and at this rate the last presentation for Thor’n in our side mining.
https://www.thormining.com/sites/thormining/media/pdf/thor-mining-201910.pdf
PW, the projects were clearly too small and with current market conditions did not attract any interest. Molyhill needs a lot more drilling but without an off take and virtually no funds this will not be done by THR! As you say RIP! There is now the chance to get rid of the two Directors at the up coming AGM and table a vote of no confidence in MB!
What’s getting my back up is they can’t even get Molehill up and running and now they are banging on about a Mountain, Pilot.
I am preparing to write off my investment as well but Mick needs to go with it, it sure looked good on paper though such a shame.
RIP Thor...
A1M I presume THR are having problems getting the placing away otherwise we would have concrete news by way of RNS by now. I am sure that a number of posters here have already been contacted by the placing brokers and know the price of the impending placing. Clearly there is no white knight or off take agreement or financing that MB alluded to all those months ago. If the Board of Directors do not subscribe in this placing then that is very very poor. I guess the traders will now get hold of this. The assets are obviously not attractive. So what will the placing money’s be used for? I have now written off my holding. A risk of investing in AIM! Anyone buying now caveat emptor!
You could also ask Thor management why they have never RNS the company's March Fly uranium project in Hamersley Metals on a now granted tenement in the NT. March Fly has approximately 250,000 tonnes of very high grade uranium at 2200 ppm ( 0.22% U) with a target of 1 million tonnes of 0.22% U. Not very long ago everyone was getting excited about uranium.
Firstly read the ASX query recently - irrespective of whatever happened a capital raise was imminent. With confidence in management shot and vendor shares out of escrow late September what would you do if Thor management refused point blank to RNS the company's gold assets to complement its base metals assets at a time when gold is taking centre stage on world markets. Now the big climb back and that can only really happen if new management is installed and the company changes focus to gold.
IMV because Billing cant close out a deal ( if at all) before the end of the year. If he could and then do a raise that would be different. But cash runs out in Dec. The bonya resource wont be ready until atleast Jan 2020 and he won't want to surrender part of MH in a JV without confirmation of what tungsten is there
it all comes back to his over promising and under delivering consistently on everything. That in itself burns cash and leaves investors constantly disappointed and the situation we have now.
In March 2018 he said the MH DFS would be out in 2 to 3 weeks. .It took 5 months and was deliverrd in Aug 2018. He hasn't got a clue.
The share price has been drifting through the time its taking to finance the Molyhil project . Michael thought it right to inform the market that a fund raising has commenced . In this way everyone ,not just the brokers know its happening so we are all on a level playing field.If he hadn`t issued an RSN more speculation about a fund raise would have caused more damage to the price and given an advantage to the shorters who would have privalaged knowledge. I think he did the right thing.
Why would the company want the price to tank to facilitate a placing, it doesn't make sense? If you want to raise a million quid you're going to have to issue twice as many shares at .30 as you would at .60 thus diluting everyone's holdings more, including the directors.
As to evidence of a leak, hardly going to be in the public domain. Who would know about ithe raise? How about the broker and those who have been approached to participate. One person tells another and starts the domino effect,Mm's would get wind of it very quickly and i doubt they would hesitate in benefitting.
A similar thing happened in ROCK a couple of weeks ago,trading at .60, sudden fall to .35 and lol and behold placing at .30 a few days later.
a1m, i believe the company did the correct thing in releasing the RNs, someone in the know has clearly used this inside information to their advantage,at least now we all have some knowledge of the situation.
Paul Johnson is a serial ramper of the stocks he holds via his Twitter page. He holds 39,575,000 Thor shares yet has not commented on the price fall or the sitution for a significant amount of time. If you held shares that every tenth of a penny movement changed the value of your holding by the best part of 40K wouln't you maybe mention it? His mate Andrew Neal who also claims to be share holder, has also been very quiet. Strange don't you think?
As a balance while PJ ramps his interests with nauseating regularity, he does generally put his money where is mouth is.
Don't any of you read balance sheets?
80% free float. Mainly retail, spivs and project vendors. They're the crowds selling down. Spivs read balance sheets. Today's Sp is the result of spivs taking placements.
As for Mick going, how much will the payoff have to be? How much would a replacement cost?