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I'm delighted to be back up at 0.7 on the bid. The worry I have is not about Thor; it's about a general market collapse, caused by rising interest rates or war in Europe. We just have to hope it doesn't happen.
With the recent funding & advancements (even through obvious adverse times), with Covid restrictions "realistically" easing off, with so so many areas on the cusp of "exciting" news - I'm strikingly positive for a major move in the overall "positioning" of Thor Mining.
......is progressing well at our Wedding Bell Uranium Project in the US and we hope to update the market in the coming weeks, along with assay results from our recently completed successful diamond drilling at the Molyhil critical minerals project in the Northern Territory."
In essence, just a few weeks away now, and assuming the “progressing well...” part means all is good, no hurdles and now just a matter of processing. This I would then be confident in saying “roll up, roll up, get your uranium here...”
Another portion of the report that caught my eye, regarding Ragged Range and the recent info about lithium is......
“The Pilbara Craton is highly prospective for lithium-caesium-tantalum enriched (LCT) pegmatites and hosts two large and globally significant spodumene deposits at Wodgina (Mineral Resources Ltd) and Pilgangoora (Pilbara Minerals). The Wodgina lithium project is considered the largest hard rock, spodumene deposit in the world (https://www.carbonart.com.au).”
Please note in the last sentence there.... largest deposit in the world. I did actually do a quiet “woah” within my current surroundings. Giving me hints of “ca-ching!”
UNB1
And here's the important bit about company's finances.
· Net cash outflows from Operating and Investing activities for the quarter of $1,436,000, with the majority of this being directly related to exploration activities, especially drilling ($945,000).
· Net cash inflow from Financing activities for the quarter $2,728,000.
· Providing an ending cash balance of $2,936,000.
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"The December quarter saw Thor increase its on-ground exploration activities with concurrent drilling programs at Ragged Range Gold Project, WA and Molyhil Critical Minerals Project, NT, whilst advancing the drill permit process for Wedding Bells Uranium Project, USA.
Although no significant gold was intercepted in the maiden RC program at the Sterling Prospect, Ragged Range, this is only the start of our gold campaign at Ragged Range, with some of the best ground yet to be tested. Elevated pathfinder elements and broad zones of alteration are positive indicators that we are in close proximity to the gold source.
Thor's recent geological review of the Ragged Range project, triggered by the granting of E46/1393, has identified exciting lithium-caesium-tantalum targets associated with the highly prospective Split Rock Supersuite.
We are currently designing our 2022 field program, with further drilling to complete the original and test new targets identified at the Sterling prospect, with geophysics, comprising airborne and ground surveys, and geochemical sampling and mapping programs planned over our additional gold, nickel and lithium target areas. The new lithium targets will be advanced as soon as possible and have the potential for significant exploration discoveries, while we continue drill testing further gold exploration targets at the Sterling Prospect.
We are excited with the new discovery at our Molyhil critical metals project, with drilling validating an interpreted mineralised magnetic target, developed from 3D modelling - a new geological concept for the project. The extension of this mineralisation, directly south of the deposit, in a previously untested area, is pivotal to the overall Molyhil project.
Pump testing of our initial water bore at Alford East project has shown favourable water characterisation and permeability for potential In Situ copper-gold recovery. This is positive news as we progress the project towards ISR assessment and development; an environmentally, low carbon emission alternative to conventional open cut and underground mining.
Permitting is progressing well at our Wedding Bell Uranium Project in the US and we hope to update the market in the coming weeks, along with assay results from our recently completed successful diamond drilling at the Molyhil critical minerals project in the Northern Territory."
https://hotcopper.com.au/threads/ann-quarterly-cash-flow-report-appendix-5b.6556580/
... and another
I thought it was a good summary of how we are moving forward and with some results due by quarter end.
Nice healthy cash balance, so no near term dilution BSG4.
Now released on ASX
https://www2.asx.com.au/markets/company/thr
Looking forward to seeing the latest Quarterly Report, the last one (published 29th Oct) showed a healthy cash balance of AUS$1.6M. With the sale of Pilot Mountain it sets Thor up for a strong year of growth. (Fingers crossed) hopefully with no further dilution this year.
Impecunious,
Agree with you there, although there are quite a few attractively priced miners at the moment to soak up the fallout from all the Crypto.
But Lithium is probably the most useful in a number of applications and therefore going to be ever more sought after in the future than other PGM's.
I am glad I sat patiently on my stock as I believed things were going to come good after MB disappeared. Nicole seems to have more 'focus' and urgency.
Now looking forward to 2022.
1N
Permitting permission please
Bloomberg reports today that discussions regarding US sanctions on #Russia are heating up now. Concerns are on commodity price spillover like +30% rise in aluminum after 2018 sanctions. #Uranium poised for potential impact this time, imho.#UShttps://t.co/T6XJdm1kbG
NM
The 40% decline in bitcoin (since November) may help us. Money coming out of there has to go somewhere; and at least we're doing something useful.
Cheers as ever herne
Good to see Thor be active again.
There's more from Nicole.
https://twitter.com/GallowayWarland/status/1487035355077308423?t=ftt9BZNzRg5mc4s_ROY5eQ&s=19
Agreed Imp..... get the nay out before the yay.
Interestingly, how I see and compare the 2 rns’s in a level of value - RNS 1... disappointing overall but not a closed finish.... just a delay in return to become positive news.
RNS 2 - fantastic news overall.... world class, lithium, game changing and again not a closed finish, and this is where scales outweigh significantly in favour of overall superb news....this already positive RNS will continue to remain positive.
Volume bought over the last couple of days, is far bigger than the bailout from RNS 1.
How I see this panning out, with the continued hunger for the shares, is that it’s going to get to pinch point soon and the sp may well have a swift rise. Create and demand
UNB1
Good to see the PR increasing on Kapunda. See tweet from Nicole.
https://twitter.com/GallowayWarland/status/1487032731229835269?t=0LdpYoMJzVExTiN_jI16xQ&s=19
Valuations of some Lithium explorers on ASX are amazing.
At current such a low MCap, THR should soon be getting attention in AUS being so cheap and undervalued.
A classic damned if you do and damned if you don't...
Hopefully the lithium lights the fuse.
"You might be right Tweenie but whenever the first one dropped it was never going to do us any good was it, so we'd probably have ended up where we are whatever order the announcements were made in."
-- that might be so, but if there happens to be a leak/inside knowledge, releasing bad before good provides a beneficial entry point for the parties concerned.