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Last financial year they actually spent more on salaries and expenses than on drilling.
Just check the results released in september.
Need a 50% cut in BOD wages
Billing has had a thousand chances and destroyed the company and you want to give him yet another chance - go tell that to the marines.
Mick has another 12months in my opinion, lets see what he can do.
Vote out Billing - put Molyhill on ice and rebuild this shattered company with assets that have market appeal. Stop the senseless dissipation of funds on more drilling of projects that after several decades no one will touch with a barge pole.
MM's doing the flippers a favour, gets them a bit of volume too.
Agreed. Placing shares need an exit route.
Dont go throwing yer money in yet...
Interesting re Pilot Mountain. Would we not be better selling this asset and concentrating on Aussie. Must worth a reasonable amount as it contains elements on USA critical metals list. Any of you money guys have any idea about a valuation?
i'm not missing the point at all m8 .all ime saying,is thor isnt in the wrong assets.
thr's main assets,copper and tungstem/molybidium are the right minerals to be in.
as for tungsten,you;ll struggle to find better goldie,with profit/capex margins,better than this one....
https://wresources.com/wp-content/uploads/2017/09/WRES-Final-Investment-Decision-Report-FINAL.pdf
but sgz is one of them
and if you want to cherry pick,palladium is probably the best performer,this year,price wise.
Wait until the next placing @ 0.1p. I remember the 1.2Billion @ 0.025p a couple of years a go.
As well as Mick geting very well paid for his efforts, i see Ray Bradley the company's 'Exploration Manager' gets in excess of 130k a year.
I think i would give up retirement for that, especially as getting results doesn't seem to be neccessary.
Also from the final results-
Executive Director Service contracts
All Directors are appointed under the terms of a Directors letter of appointment. Each appointment provides for annual fees of Australian dollars $40,000 for services as Directors inclusive of the 9.50% as a company contribution to Australian statutory superannuation scheme. The agreement allows that any services supplied by the Directors to the Company and any of its subsidiaries in excess of 2 days in any calendar month, may be invoiced to the Company at market rate, currently at A$1,000 per day for each Director other than Mr Michael Billing who is paid A$1,200 per day and Mr David Thomas who is paid A$1,500 per day.
Very Nice, no wonder the company is skint.
Trojan You are way off - I have significant iron ore holdings and iron ore is a very profitable business too. As far as I am concerned in the present environment iron ore and gold are my principal focus. Notwithstanding we have several million tonnes of barite in the NT -a critical mineral now given the USA is dependent on China -we have rare earths in the NT another critical mineral and cobalt -lithium. But nothing apart from iron compares with gold at current prices . Thor is just a lifestyle company - Molyhill has been around since Adam was a boy yet people like you still believe the spin.
its obvious that you and a few on here are goldbugs and yes,austrailias wealth is built on the mining sector.
but when its comes to profit margins,golds done well since it bounced off last years 900 oz lows
but so have many other minerals.
thor isnt in the wrong minerals,it has too many,that's the problem,so too much cashburn,
I rest my case -good luck everyone.
The day CGNR ever mine an oz of gold I will swim to Greenland and back . Study genuine ASX producers and exploration companies -REAL gold producers.
Trojan The gold price is AUD$ 2300 oz or thereabouts and average AISC about $1200 oz -many top producers under $1000 oz so that equates to HUGE profits for the average Aussie gold miner. I suggest you refocus from the dog stocks on AIM and start doing some serious research -gold production is highly profitable in this country. AIM is toxic - very few genuine exploration - mining companies.
not sure where your getting your info from m8,but gold may have risen 40% this year,but goldies arnt famous for high profit margins.
no different from certain copper/tungsten/cobalt,or other minerals,come to that.
cgnr,the comps worth a mill,with 500k ounces of gold..hardly a boomer
Right after Mick gives him his clipboard and black and decker !
Orion 10, that's a hell of an interview. When can you start?
Hi Joe I am okay -82 in a couple of weeks and still stirring the possum. Hope you are well too.
Thor had /have the capability to secure a gold project -check out SPX - MEI - RXL - AAR and others I am on board -plus maybe fifty other multi baggers in Aussie gold. Its still tentative but many multi baggers -like Bellevue - Red 5 -
As you know I was involved in the listing of Cobra -hopefully Wudinna will bring home some bacon -
Thor has shot its bolt now - a long climb back but if everyone listens to me it can recover quickly if Panorama comes up trumps. A few bags of nuggets recovered with a metal detector as GGP have done and it is on the radar screen - a premium in the stock and like GGP some very basic exploration. Worry about drilling and scoping studies later -once the stock has some traction.
Now Karlawinda is most likely more exciting -I have 80 sq km only a few km from the new CMM gold mine being developed at Bibra. And guess what - I positioned Hamersley Metals -now Thor with three big EL's surrounding Capricorn. And Billing cant even issue an RNS ! Mate there is no need for expensive exploration programs at this stage -CMM another of the stocks I am on board has gone from 7c to 23 c today -a market cap of about $360 million. Then guess what I have Territory Prospecting one of our private companies there too and another of my private companies just picked up ground. This is a NEW gold province -with CMM headed up by Mark Clark who built Regis into a multi billion dollar company. He is not back at his desk out of retirement unless he figures CMM is another Regis. Collectively we have about 400 sq km within and surrounding CMM. Check me out on Twitter -all on there mate -we just have to get a young CEO driving Thor and believe me we can turn it around. Cheers and happy trading - PS: Check out Novo -Pilbara gold -a market cap of $540 million and thus far only metal detectors !! All the Canadians and European followers all over the press - and if we find gold at Panorama they will come knocking -like Kirkland did when it pumped $56 million into Novo. And now Sumitomo funding Novo - If I was the CEO of Thor I would have it firing in no time flat. We want someone with some fire in their belly that understands gold -and it is rocketing again tonight !
i think its PJ that reads the forums m8....he mentioned it,a while back,in a podcast.
Hey Ken, how you keeping?
A shovel ready gold project, RTO and share consolidation is what's needed in my view. Along with the right expertise on the BOD. Thor have way too many pokers in the fire to keep raising piddly amounts every few months.
I can't see the market signing on for more of the same if its a greenfields exploration project vended in. The TVR would be insane by the time any new project even gets to a scoping study.
But, who knows!
You could start by getting off the never ending tungsten band waggon and the copper projects which have a snowflakes chance in hell in this market and insist the company refocusses on gold. When CMM report shortly that will become even more obvious. The market has a hundred struggling tungsten plays out there -no one wants Moly Hill -end of story. Moly Hill has been promoted by all and sundry since Adam was a boy - we even held shares in Thor with RGM and Andrew Bell was on the board when Thor listed. Its been the same old spin for decades -long before Thor was even thought of - give it a rest - it will never happen. You want to rebuild Thor listen to me - gold is going ballistic and all you can talk about is Moly Hill.
"10 bagger 15 Aug 2019 08:39
With a mcap of only £6m this could easily 10 bag here...EASILY! "
This was your third post on Thor. Your first being some rant about shorters.
Rofl. Busted. Spiv locked in.