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There is no way they would have got this placing away at 0.35p . I live in the real world unlike some on this board.

Whilst I agree the BOD have performed poorly I cannot see any evidence of criminality .Shareholders had been aware that a placing was required around the end of the year and with the climate for such placings becoming more and more difficult its best done early. Once brokers circulate possible investors news leaks . This is probably why Mike informed the market so then it became public.

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.

I`m not invested here but think they have done well to get such a large placing secured at only 12.2% discount considering it was leaked ahead of the RNS announcement.May well buy a few myself .

I don`t see anything sinister in Chris selling more UJO shares as he`s almost certain to be participating in the Reabold placing and needs the cash to do so. UJO `s price will soon recover if the placing is a success.

Part of the delay in finalising any deal was caused by thr acquiring another prospect Bonya which is close to Molyhil and could supply the proposed mine with another source of tungston thereby lengthening the life of the mine by at least another 3yrs. I think drilling is still continuing. I agree its all taking too long as shareholders are losing interest.I`m still holding as the potential rewards still outweigh the risk as far as I`m concerned.

I did wonder when Mark Potter was appointed to the Board of Thor if MTR would take Thor over and monetise their assets.I suppose its still possible once the Sandfire deal is finalised.

THR`s assets are worth many times the current share price in my estimation . Their Molyhil tungston prospect requires around $40 mil to develope the mine with a payback period of around 18mths but finding finance is not easy especially when the company has a market capital of only $5mil.If Mike can get this project financed then the THR price would take off.

The change in ownership of Rathlin, doesn`t change UJO `S share of the WN licence of 16.66% so why should it affect their capabilities to fund their share of future costs.

I assumed it was their terminology of saying it is approved.

If we could get finance for the Molyhill project it would draw attention to our other assets.It seems nobody apart from our current shareholders are aware we exist .This is rediculously undervalued and the reason I intend holding .

Thanks Heid sounds very positive.

I agree ,375mil shares were dumped on the market late last week and have to be absorbed before this can carry on its upward path.We should be a fair way through these by now so I can see this recovering towards the end of the week. As said by many on here we have the assets and its just a matter of waiting.

Yes ,Dividend 7.3p

Just did a dummy sell for 1M and was offered 0.279p.Quote was shown as 0,26-0.29 at the time.

The market has to absorb near on 150million shares before it can advance .How long this is going to take I have no idea. In the meantime its give those with confidence in the company and funds to add to their existing holdings at a discounted price .

The Bonya prospect purchase has the capabilities of extending the life of the Molyhil mine by several years once a resource estimate has been completed..Our own analysis of the drilling to date looks very promising but we need official confirmation of the grades from the recognised body. Until we know what we are selling I can`t see how any deal can be done.

Hi Orion,When the acquisitions were made I had an idea you might be involved as I knew you had many interests in the Pilbara region and had connections with Thor .I think Thor, with their current projects are very undervalued but in these dire market conditions nothing seems to interest investors .The tide will eventually turn and we should get recognition.Mike Billing comes across as being an honest man and has accumulated a portfolio of very promising assets .

Good to hear from you again Orion10.I very much respect your opinion on the initial drilling results at Bonya with your wealth of knowledge in the mining industry...Are you still a shareholder here?

Listening to the Proactive interview it would seem that gold is a bi-product of the copper extraction so costs should be very little .Obviously to come up with a resource estimate this will require drilling but as its near surface again its relatively cheap .Mike is being his conservative self as he has to be but seems very excited with this bonus discovery.