Member Info for Genghis15

Well, Shaz, mb I'm one of those...I'm in based om OB's words, tho only a toe in the water. Moe to follow, tho, I think.

Good mention for THX

https://www.investorschronicle.co.uk/content/22ff70f2-b7f1-5bdd-9a32-9c7d8990f7c6?xnpe_tifc=b.zlxFodOF1Z4DoZ4DY8hypsafeWaeiWhFW_RMPgRki3hIxd4oB9afeWaG8.adJS4I1jxkoj4IP_4fn8x.PuhzTT

Agree, HarChris, there is huge potential here. We differ over the risk of Nigerian state tax grabs, but the opportunity Segun is building on top of the Segilola success is really unrecognised by the market as yet. If/when the tax issue can be resolved to THX's satisfaction, there must be a good chance of a substantial rerate. A doubling would still not include anything for the potential going forward.

Nothing we didn't know, but always good to get such endorsements. Roll on the inquiry results.

https://theoakbloke.substack.com/p/thx-thor-exploration-ob2025-pick?publication_id=1859293&post_id=152500947&triggerShare=true&isFreemail=true&r=6vzgn&triedRedirect=true

2 entirely unconnected issues with no read across.

The drill results are not unexpected, it was always likely that the pit life could be extended in this way, + that an u/grnd operation would follow. Good news, nonetheless.

Just read, Vixen

https://research.hannam.partners/open/704e5517-7a77-4e35-a4fd-a891331911e0/MetalNRG_20241128_Initiation.pdf

"Forget the term 'worst case scenario' then because every company has a worst case scenario that would wipe out shareholders."

We are of course talking in the context of the possible extent of Nigerian institutional corruption/taxation/institutional greed, not normal commercial risk.

Anyway, enough already. All we can do is wait. Faites vos jeux, messieurs, the risk is whatever you choose to think it is!

It's hardly "great news". It's a mild +ve, as it does seem to imndicate THX has Federal ministers well disposed to it. But nothing concrete, for that we have to wait 4 the cttee report.

"It IS the realistic worst case scenario for now, the $1.9m tax claim is what the federal government is looking into. There is absolutely nothing to suggest they are taking the environmental claims seriously. "

I find this statement baffling. Just bcos the $1.9m is currently the only quantified clsaim does not make it a worst case scanario. nor do previous env plaudits prevent future claims on that front, whether justified or not.

Fwiw I am not expecting "terrible news" either. Most likely (imho) the $1.9m will see the end of it, at least for now. But "most likely" is a LONG way from "worst case scenario". Your seeming certainty that $1.9m is a maximum risk is badly misplaced ; uncertainty abounds here and we simply DON't KNOW what the outcome will be.

" i'd be mightily disappointed to see the State awarded the $1.9m and it would certainly make the market a bit wary for the future - however i'm pointing out that for now that's the worst case scenario,"

It absolutely is NOT the worst case scenario ; it's a very benign one. The SP would have not been impacted as it has been over $1.9m. Market fears are that if that succeeds, there is no knowing what the "worst case scenario" is. That uncertainty is what is at stake here, not $1.9m, which as you point out, is a paltry sum to THX.

All true, HC. but repetitive. I think we all know how cash generative the co is, and we all know what's holding back the SP.

There's only one pice of newsflow that will move this share atm, and it's nothing to do with cash generation, production, or drilling.

There is no point highlighting the insignificance of the amount formally in dispute. The point is that if the tax grab is successful, more could follow. If the Fed govt doesn't make one itself, Osun state could weell be back for more, look at all the unquantified environmental claims.

The point is until this issue is resolved we cannot have confidence in the amounts that will eventually flow to sharehoders, vs how much the state might take. All we can do is wait and see.

Interviewer bit of a character.......

I don't think anyone doubts that on any financial or operational metric THX is hugely undervalued, imho a valuation 2 or even 3 times higher would not be unreasonable.

The elephant in room is of course the Osun tax grab, and the background of Nigerian corruption.

Well, there you go. Had to wait a bit longer than expected, I exited vthen at 29.75. And here we are at 28.5 to mbuy, Why,oh, why this constant dilution? What's wrong with organic growth?

Mooching

"Raising £15m by issuing 17m shares (0.86p in today's money or 86p)" This is the nub of it, from which all projected SP targets flow.

So far, so good. But this presumes that the co has lined up takers for these shares at 86p, or .86p in today's sp. they must be confiden they have I suppose, to put it in the RNS, but I should like to see where that confidence comesa from in terms of committed buyers.

$1.8m, indeed. But that could just be the opening shot. Hopefully we'll get the Federal verdict soon and all this will be put to bed.

But until that happens, ignore the "just $1.8m", cos its unquantifiable if allowed to continue.

DRJJ

A touching amount of faith in a BoD that has already destroyed shareholder wealth. Their priority now is to look after their own, if there's anything but crumbs left for existing shareholders I'll be astonished.

"Hugely positive step for #TGR as they search for a finance deal to protect original shareholders"

If you believe that old pony, I have a bridge to sell you.

When/if financing arrives, see how much equity you still own. Financiers are not known for charitable endeavours. Any sensible holder here has written off their investment, any return at all would be a bonus now, imho.

Ontarget

I said "likely". There is never certainty about these things.

HarChris

I largely agree, tho for you the glass seems permantly half full! When looking at at POG, Osun is the bigger risk ; when looking at Osun, it's immaterial cos the POG is so high! It's good to be optimistic, and OTW I agree the tax grab is the bigger, as yet unquantified risk. But who knows, we're all guessing in the end.

A fair pov, NB. Tho one wonders if crypto is indeed the new gold.

Our brave new world keeps throwing up new twists.