London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
"We are deeply disappointed with the performance of Thor and have maintained our pro-rata holding in order to protect our investment. We see Thor management (excluding Mark Potter who was only recently appointed) as having failed to deliver on their targets and believe that it is essential that cost cutting measures are taken urgently in order to reduce Thor's ongoing administrative costs. We do believe there is investment value that can be realised from Thor and agree that drilling at Bonya could improve the viability of Molyhill and is therefore important. We also believe that management needs to actively start considering new strategic assets to help drive shareholder value and improve market sentiment."
A 50% cut in entire BOD pay and remuneration must be carried out.
Whilst I agree the BOD have performed poorly I cannot see any evidence of criminality .Shareholders had been aware that a placing was required around the end of the year and with the climate for such placings becoming more and more difficult its best done early. Once brokers circulate possible investors news leaks . This is probably why Mike informed the market so then it became public.
The price went down before the placing when the company stated they where funded until next year. The placing should be forced to market rates not at a massive discount.
There is no way they would have got this placing away at 0.35p . I live in the real world unlike some on this board.
Fire the board, and put the project on care and maintenance. If the suitors are that engaged with us they would happily pay the small price for shares AT MARKET RATES, we are been strung along ....ROBBED. I would put money into a gold project rather than carry on with this charade !
Or redirect funding it to the insutu copper project to speed it along
I am afraid this is now the norm. Delays and funding issues. We are in a bear market. They are lucky to raise ATM and have to apply a heavy discount. No wrong doing but if you study the market you can sometimes recognise where a discounted placement will land.
You are divorced from reality as most investors still are in the UK. The Australian gold sector is in an emerging gold bull market with maybe 50 -100 juniors which have multi bagged - I could name ten of them I am board and right now I am accumulating MEI .
Thor have Panorama adjoining GGP which has a lot of potential -if you don't believe me check out Novo Resources with a $540 million market cap. That's Pilbara gold mate -not tungsten and copper. Then cast your eye over Capricorn Metals with a $390 million market cap. Thor have large exploration licences with laterites and schists adjacent which have the potential to emulate CMM.
Thor hopefully will have new management -Thor hopefully will change focus to gold - endless talk about tungsten and copper is counter productive. It will have its time but not now -we are in a bull market for gold and every Thor shareholder needs to raise their voice -as the major shareholders are doing because no one is going to put up with Billing and his spin any longer.
The answer for Thor has to be whatever will rescue the SP in the short term before further fund raisings are required, because without an asset sale , MH funding agreement or new exciting blue sky gold assets this downtrend is likely to continue.
I dont know the answer which is why Billing needs a serious grilling at the AGM to find out the exact state of play rather than his continual spin of over promising and under delivering
I hope disgruntled holders find the time to attend.
Everyone I have spoken to want to show him the door -not just a grilling. His intransigence beggars belief -he must be replaced as the CEO.
During the last 24 hours i have had a number of e-mail and phone conversations with people connected to the company,including Mick. My conclusions are as follows:-
1 There is genuine disbelief that a deal for Molyhill has not been struck.
2 The original placing was for .30 but there was a reluctence from approached parties to participte.
3 There is belief in the assets.
4 A change of management may/will be needed to realise the value of said assets.
5 Years of over promising and under achieving has seriously undermined confidence, which i guess we all know.
I think with the right management team this can be significantly turned round. I would like to see MTR take over the reins, while some commentators vilify them they seem to be decent deal makers and as a bonus they have the backing of Sprott.
We need action ASAP because as has been pointed out 500k isn't going to last long.
P.S. my reply e-mail from Mick was sadly, in my opinion, very underwhelming.
Mick needs a last ditch face to face with these ‘potential’ partners and if no deal in our favour (we have bent over backwards) walk away ! Moth ball moly and work on another strategic asset copper/gold that is the only way I would allow Mick to remain. I feel these potential partners are deliberately leading us up the garden path ! They can get stuffed then.
It would seem internally they want Mick Billing out and have given him enough rope for him to hang himself or allowed him to keep on walking down the wrong road.
Just what has Mr Mark Potter been upto since his appointment and why has he not been able to put Mick Billing on the right road, is it a)they have allowed it to happen or b) mick has willingly walked down this road.
Either way it would seem Mick Billing has taken Thor has far as he can within his skill set. All is not doom and gloom, we just need to be moving on and require the right people to do this.
I’m pretty sure MTR has put Mark Potter on the board of Thor to make some changes. What these changes are I don’t know. But I’m sure we will find out soon enough. I expect the fundraise was some at 0.2p as it was a better alternative to calling in the administrators!
MB is the GR type ( the prem ceo). They don't care about private investors ,only want to collect their fat pay checques and live the lifestyle.
Prem also raised recently at 0.2p but within a few weeks is up 500%+ on hype.
Thor has good assets but am afraid creating shareholder value is an after thought for MB.
Thor mining plc appear to have stopped Twitter ing now. Taken with Ken s comments . MTR comments ant the silence from Thors long term holders who have in the past been very vocal promoting Thor i think its fair to say an effort will be made to effect a change at the top. Mick will have his supporters on the Board though.
Can I encourage everyone to pay attention to a1m1nvestors post RE: market manipulation and action it!