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The Department of Transport is now negotiating with FirstGroup on the terms of a management agreement for both franchises.
This would see FirstGroup overseeing South Western Railway until April 2023 and Avanti West Coast until April 2026. FirstGroup would be paid a management fee for operating the service but would take no revenue risk.
Time to top up...
In the last twelve months, the biggest single purchase by an insider was when Non-Executive Chairman David Martin bought UK£112k worth of shares at a price of UK£1.12 per share. That means that even when the share price was higher than UK£0.34 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
https://www.proactiveinvestors.co.uk/LON:THR/Thor-Mining-PLC/
Thor Mining PLC on Friday said it has signed a binding sheet to acquire interest in the oxide mineral rights from Spencer Metals Ltd over the Alford East copper-gold project in Yorke Peninsula, South Australia.
Thor is set to acquire up to 80% interest directly in the Alford East Project and has been granted the right to explore for minerals on the agreed portions of the exploration licences EL6255 and EL6259.
The agreement means that Thor can earn a 51% interest by funding AUD500,000 expenditure over two years to November 11, 2022 and can earn a further 29% interest to make 80% in total by funding an additional AUD750,000 of expenditure over two years to November 11, 2024.