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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?
What's more of a disgrace is Mick's still running the show. He should of gone ages ago.
thr's grades are 3 times higher than wres's m8
but wres's has 50 mill tons orebody,compared to thr;s 5 mill.
.
but wres as a second tungsten mine,regua...almost identical to mollyhill.but its still at the infastructure stage....its also due a resource upgrade,with intersections as high as 1.19% tungsten...so it'll be bigger than molyhill,when that news lands
I have to correct myself there, just wasn't showing on the mobile version of the website.
Found it on the web version here for anyone interested: https://www.thormining.com/investors/share-information
I paid 0.13p a share for vast resources and made about £10k in a week recently, there’s plenty of money to be made if you get the timing right and the timing is almost right with Thor now for any new investors, lots of potential here.
The death spiral is getting quicker - only 88% down now :-(
Anyone else notice this has been conveniently removed? Pretty sure it is part of AIM Rule 26 that listed copmanies have to provide this information publically... appears that rule has been broken.
Generally the best money is to be made investing in shares that are around 0.1p or a little higher on aim I’ve realised. Unless a company is producing already then anything above 0.5p is generally too high and it’s likely to ultimately fall back. Obviously every chance it will go back up again but it’s a complete gamble otherwise. I paid too much for Thor, derisked a while back luckily but hopefully will go back up towards 2p at some point in the next year!
Most recent buyers are now over 50% down already. Placing is normally at a discount to market so at this rate <0.2p. Don't forget they have no shame. Remember the 1.2Billion @ .025p. THR well over 99.5% down!
Trojan,
How does this compare with WRES re the amount of Tungsten and grades?
I wish I could sleep. Lol
Zzzz...
Thats been true for vast majority of similar expl/dev type companies for several years now. These years spanned (predominantly) resourses bear market & market where growth has enjoyed favour over value. I've read things shifting slowly towards value just in the last few months. If trade deal can be sorted, the chances of broad resources bull market increase (if Shanghai composite rising - an indication). A gold and silver specific bull market seems already confirmed & in progress and seems fundamentally unstoppable (yet possibly delayable for a low number of years max) based on flaws of modern fiat currency management.
Getting into the right junior explorer/ developers at right time (very end of protracted bear market/very early in bull market) can change things around.
Instead of discounted placing, for relatively high dilution, sell off, and sp decline followed by another discounted (form a lower sp) placing etc which after repeated incidence breeds negative sentiment and expectation of a long position leading to losses (this is what has generally been going on since 2011ish).
A lengthy bull market can create a less discounted placing into sticker hands, relatively less dilution, stable or increasing share price, potential good news is allowed to create a sp rerate up for enough time for sentiment to improve, and sp momentum set in, followed by placing/warrant exercise at ball park sp parity or even placing at small discount (but higher than previous placing), further news/milestones & increased price of underlying commodity breeds increased sentiment and sp momentum & increased sticky long positions, future funds are raised at higher and higher levels funding more potential value accrediting milestones with less & less relative dilution, mania may set in and sp takes off as general investors see the gains the sector is returning and a bubble occurs at which point its time to sell, likely years after the bull cycle began.
Alternatively larger companies with production have been raking in profits off the back of high commodity prices for years & to continue to grow their own sp need/want to add value so buy assets, they have large capital reserves & large acquisitions occur, frequently (with long term hindsight) at too high a valuation (a good thing for the seller - the junior explorer/developer) & their shareholders.
That's my thinking anywho. Thr has been severely hampered by scarcity of funding due to macro climate. If they get deal despite this climate & it allows cashflow visibility, or the climate eases near term, sp/mcap turn around could/should be dramatic.
Mcaps been >20m here with +ve sentiment, 12m would be ~2 bags from here even if upcoming dilution is 50%. Mtr, PJ, and mb have decent stakes, agree this maybe them av down, if it is it's a good sign and as cventer says opportunity is there for all (funds dependent).
AIMO GLA
capex and production costs are lower than its piers...by a long chalk
estimated of course.
so where are u getting this over promising and under delivering from m8?