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Imagine the price of THOR if we do ever get some out the ground ! In the meantime it's a question of financing(need to check cash in the bank) such is the nature of the beast on AIM. Lab results due Feb, fingers crossed everybody. By the way (asking tech guys) the downhole gamma logging returns up to 6,885ppm (0.69%) eU3O8 uranium is quite good right? GLA.
Https://www.mining.com/web/uranium-miners-posed-to-extend-gains-on-supply-crunch-sprott-says/
Anybody who bought 5 days ago woould be up 50%. Shame I bought 5 years ago.................
Can see this moving quite rapidly based on the fact that Uranium is in high demand and prices are at a high
More drilling means more money. More money means more placings ...
Good thing is it is in a safe country so there will not be any problems. They may also want to fast track this https://www.proactiveinvestors.com.au/companies/news/1038760/thor-energy-sees-high-grade-uranium-in-recent-drill-results-1038760.html
Yes even more drilling, this share is a drillers dream.
Nicole Galloway Warland, Managing Director of Thor Energy, commented:
"Based on the promising consistency along strike of shallow high-grade uranium results from the drilling program, Thor has commenced preparation and permits for Mineral Resource drilling at Rimrock and Groundhog mine areas, this will include infill and extension RC as well as diamond drilling.
"We are pleased to see the uranium spot price breaking USD$100/lb, marking a 16-year high for the commodity. Forecasts predict continued growth in 2024 based on favourable fundamentals due to current supply shortages, major producers such as Cameco and Kazatomprom indicating they are unable to increase supply in the short term, geopolitical tensions (Niger coup d'état and Russian invasion of Ukraine), and 24 nations pledging to triple nuclear power capacity by 2050 (COP28).
"The US government recently announced that it plans to invest up to $500 million in enhancing domestic capacity to process uranium into nuclear fuel. We are encouraged by this inward investment as it will only further benefit the developments of our US projects, making Thor strategically poised to capitalise on the global shift towards green nuclear energy.
"Based on the success of Thor's drilling programs and the wider positive sentiment around uranium, Thor's team is also now reviewing additional prospects within the Project area for drilling evaluation."
Https://www.londonstockexchange.com/news-article/THR/uranium-update/16293709
This is a make or break year, I thought the results were a little underwhelming,
Correct, need those lab reports to come back positive and as you rightly say progress on the ground.
How much Uranium did we produce in 2023....? Exactly, nice rise but we need to see progress on the ground!
Up on ASX 3.9c / 4.0c . Has traded at 4.1c On the back of uranium price I guess. $104
Https://www.mining.com/uranium-jumps-to-15-year-high-as-top-miner-flags-shortfall/
If you check the THR MCap on ASX & compare to AIM, allow for FX they're fairly similar. More traction on ASX will see this move on AIM.
Patrick Downes tweet sums up the week on the ASX for Aussie Uranium stocks.
https://x.com/patrickadownes/status/1745675209942970369?s=20
Hope so herne. I see it closed 3.4c - 3.5c and traded at 3.5c. Need some positive news from the lab re uranium tests which are due first quarter I believe. Sooner rather than later please. GLA
Thor has had a good run on the ASX this week, hopefully the interest will start to build & sentiment change on AIM.
Https://www.mining.com/web/uranium-miners-surge-on-500-million-us-enrichment-push/
Https://www.mining.com/uranium-hits-new-post-fukushima-high/
Just watched the Sydney NYE celebrations, impressive, here is to 2024.