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.
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 .
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.
With the gold price hovering around $1300 they look very good value. The Kizilcukur prospect could extend the life of the mine by a few years if the trucking operation is successful which we should know by the end of the summer.
THR is a victim of circumstances as the fall in commodity prices over the last few months is outside their control.We have three good projects namely Molyhil,Pilot Mountain and Kapunda. any one of which could be worth many times our Mkt Cap.once commodity prices improve.We have to bide our time in the meanwhile and conserve our cash and wait for the next commodity cycle to commence which it will If Trump settles his trade war with China it could come soon.We have the commodities and they`re not going away.
Deserdjoe,whilst I agree this should not have happened I believe the Directors have taken the correct action by buying the shares themselves. By doing so the shares have been taken out of the market as they won`t I believe dispose of them..The good news is we are that much nearer in receiving dividends as cash flow must be positive as to be able to buy back shares in the market and todays other news could extend the life of the mine if successful and possibly get a further cash flow boost in selling this project to the partnership, as we own 100%.
Shouldn`t affect the SP. This is an accounting technicality caused by past losses. Once they obtain Court sanction they can then continue the buy back and what I like to hear, pay possible dividends, In the meantime the Directors have purchased the shares themselves a decision I`m sure made easier by the share price upward movement.It still shows they have confidence in the company which I welcome.Also 4.5mil shares are in safe hands and not likely to come back onto the market.
The drop today is probably warrant holders selling sufficient shares to convert into new shares at 1.2p .The expiry date I believe is today. You will always get certain posters who take a delight in winding up the genuine holders .This company has in my opinion a great future and I for one am not concerned about short term weakness .