Member Info for EyesOfBlue

Cheers for explaining. I get the % profit increase would be higher but I'll stick to focusing on the actual amounts. Unnecessarily complicated (and slightly futile) to do otherwise I'd say.

Ie $4k gold price = $3k gross profit x oz = actual gross profit. Or whatever today's calcs are! 🤔👍

When sentiment deems it's been oversold? Cautiously averaging down / topping up, whatever your choice of phrase! Fundamentals here still absolutely fine. SP now below what it was in dismal Feb and even lower than during Trumpageddon in April. Ridiculously cheap at these levels, sellers are being lemmings. Again.

I don't get your logic! With zero debt every cent on the gold price goes directly onto the P side of our P&L at a rate of 100%. What are you comparing this to?!

This company just looks really good. Some of the posters on here now look rather foolish. Great results released today. SP up 29% and I'm up over 40% since punting a few £k so sold a third of my shares just now.

Credit to the Oak Bloke (blogs on Substack) who recommended we take a look at this one and his (free) in-depth analysis.

According to the article, miner share prices are volatile. Who knew? 😏

Meanwhile, the gold price is up another 2.2% today, to $4,200. Marvellous.

Gold Price Performance USD

Change Amount %

Today +87.54 +2.13%

30 Days -36.94 -0.89%

6 Months +866.02 +26.69%

1 Year +1,529.10 +59.24%

Cool.

Results announced Tues, deserved backslapping and questions about destinations for massive cash pile on Thurs 👍

More good news. Gold back to comfortably over $4,000 again.

Gold Price Performance USD

Change Amount %

Today +70.27 +1.76%

No one else looking West this evening then? I expected the UK SP to sneak up today but it didn't bother. Fortunately our Canadistanian mates have tipped it up 7% while Gengis was out at Bingo 🦅👀👏🙂

So even with no RNS we get back to 59p bid price?

https://www.marketwatch.com/investing/stock/thx?countrycode=ca

Thor Explorations Ltd.

+

Closed. Last Updated: Nov 7, 2025 3:59 p.m. EST

Delayed quote

$1.10 +0.07 +6.80%

Financials will be released onto an unsuspecting market in about a week and a half?

And gold price absolutely not settling below $4,000/oz should improve sentiment further 🌟💵👍

https://goldprice.org/

Yep, absatively posalutely. I thought Tues but apparently it's Monday? Pleasantly surprised that the SP isn't rising into them tbh. Appreciate you can't believe a word you read on here but I topped up this morning as the SP will surely rise when the results show what our sales are?

Now up from very brief visit to 99c to C$1.00

That's 54p 🤯🤔👍

Well, well, well. SP across the North Atlantic has just dipped below the psycho-point $1.00

Could get cheaper still of course, but this is easy money, surely?

https://www.marketwatch.com/investing/stock/thx?countrycode=ca

Making money out of ENOG (israeli oil & gas) was easy (SP bombed when the horrors unfolded) but this is utterly illogical.

Terry was probably distracted by his super-tax returns or the Dubai coastline on Fantasy Island again. There is still LOTS of land to gradually sell DOWN if they've only sold 300m/1500 = 200k acres?

Up 10-20% or down by the same. Broker forecasts are useless here, simply watch News at Ten and wait for Middle East developments...

Here's the whole of today's article 👍👍👍

Pure gold*

https://theoakbloke.substack.com/p/thx-you-please

*and a bit of lithium

Conclusion

My FY25 estimate of net profit is £138m vs a market cap of £288.3m.

So a P/E of 2.08 but let’s not fall out over a 0.08 discrepancy. It pays a 2.67p dividend which is a 4.5% yield today. But that’s only 12.75% of net profit and 20% of operating cash flow…. in other words there’s more in the tank, potentially, to reward shareholders. The other 80% of cash is being poured into expansion and growth across three jurisdictions and into extensions at Segilola.

The 1H25 ACTUAL net profit was £65m. An extra £8m profit in 2H25 vs 1H25, given the rise in gold prices is highly conservative and assumes a modest 22.5 Koz and no reduction of WIP……I calculate there’s £90m of WIP (at $4k Gold)!

I can’t say a long term £138m annual net profit is nailed on beyond 2027. But there’s a reasonable chance that it is, or at least £100m once a higher AISC, tax and other factors are included. So perhaps the future P/E FY28+ moves to 3.8X - just for Segilola.

But if a tax deal is done, if my assumption of a much higher AISC isn’t reality, but also if volumes rise beyond 90 Koz per year, or indeed if THX becomes polymetallic mining Lithium in Nigeria, or multi-jurisdictional if Senegal is progressed to and beyond FID then profits would or could be much higher.

Even at 3.8X it’s cheap. At 2.1X it’s very cheap. And at below 2X it’s getting silly.

So is 59.5p the top? No. Am I calling time? No way!

THX hit a recent 76p high (at $4,400 gold). That’s a £484m market cap. Even then with £138m net profit that’s a 3.5X P/E.

Https://quoteddata.com/2025/10/golden-prospect-points-out-the-good-value-in-its-annual-five-for-one-share-offer-after-this-years-gold-price-surge/

Here's what the company have just said about the share offer. Thanks to Pedro for the info. I bought in here today within seconds of receiving an email from OB as he seems to be moving small (ish!) company SPs with his blogs!!

For the benefit of my new chum Ghenghis (sp?)... yes the link is indeed relevant 😉

Maybe you should have read the article before commenting? It includes his thoughts on the global gold market. What possessed you to conclude that's not relevant to holders of THX? You do know that THX trades in the gold market - or are you having a senior moment?! I have them all the time 🤔☕🙂

Https://theoakbloke.substack.com/p/golden-opportunity-for-gpm-golden

Really interesting thoughts from OB.