Member Info for Genghis15

Mine life ext is a given, and addnl capex for underground ops, increased rev costs for u/ground and near mine trucking, will both be easily absorbed by a co that will be cash rich by then.

Douta, and lithium, will require addnl capex, but that can be debt funded, or even spun off into separate entities.

Despite the persistently low SP I've got no worries here that THX is primed for greater things.

Mcap still sub £6m, lots of potential here. Just a sniff of asuccessful FO should really move the dial, if you believe (and why shouldn't you?) that "the value of Verkhuba alone significantly exceeds the current market capitalisation of the Company".

SS

ARC's 2022 note projected 114000 oz in 2024. Can't copy here, sadly.

Either way, lots of cash this year....but don't forget capex coming up at douta and for Segilola extensions.

Despite that, with debt gone this year (if Segun so chooses) a very healthy position by 2024 YE

There is nothing to clarify re mineral sands, which this is clearly not.

But there is ambiguity about rights to minerals other than Au/Cu, which DOES need putting to bed.

$2m, "imminent" on 7 March.

So a month later, nothing. Odds on, imv. that if it ever does arrive, it will, for only vaguely explained reasons, be less than $2m.

I have zero confidence in any statement the BoD makes, sadly.

Easyp

Sorry, It wasn't my intention to be rude, ...."nonsense" is rather more abrupt than I intended. I should rather have just said that I disagree!

Formerlyeasyp wrote "If EEE were owned by a major mining company then Pitfield would probably have 3 or 4 campaigns under way today. "

Nonsense.

All companies have strict capital budgets, usually allocated annually, tho revisions

can be made. All companies have competing demands on their available capital, whether they have cash on hand or not, and projects will be prioritised according to Roc and their place in a larger strategic plan. All companies are subject to timelines imposed by govts, licence terms, etc, etc.

And ALL companies have a limited corporate recource to carry out the planning, permitting,scoping, specification, tendering, etc.

If anything, a larger co might be less advanced with a singular focus on Ti and pilot plant, tho I do agree that a wider drilling and resource identification campaign might be undetaken more speedily if more capital ere available.

It is what it is, EEE is proceeding at a fair clip and nobody would be going any faster, imho.

This is from a note from Alternative Resource Capital (ARC) dated Feb 22. i downloaded the whole thig at the time, but you may be able to locate the original with a bit if diligent searching.

"Having historically been viewed as an oil-dominated natural resources jurisdiction,

Nigeria is increasingly getting on the radar of miners given its aforementioned gold

potential, an accommodating legislative structure (including a five-year tax holiday

for new mining ventures) and Thor’s success in delivering Segilola to commercial

production. Thor’s substantial ground-holding and status as the only commercial-

scale producer in the country gives it significant first-mover advantage, in our view,

and provides a solid foundation for further success"

Prospector

"Genghis15, that may apply to conventional mines. What do you think the SP will do when all studies prove a high value TIO2 product can be produced and a JORC compliant resource of billions of tons is defined? Do you think the market cap will still be £37m?"

Good question. I'm not sure if that pumps up te value, or if that comes after pilot plant start. Tho any good news can always spark a re rate, who knows.

It's interesting that while I was putting EEE in the orphan phase on the curve, (or feasibility, as Mikb says) you see it differently. Thereis scope for both points of view, I guess, and of course the graph is only a good rule of thumb, not an exact guide.

Good RNS from EEE, i thought, sets out their plans, gives a lot of detail. It is NOT, of course, an RNS to excite the SP, bcos it highlights the long path to production, requiring capital along the way.

SP wise, investors will be aware of our position on the Lassonde curve, which, barring major interventions, indicates a sticky period ahead. The curve is not immutable, of course, but it IS the usual fate of early miners' SP.

https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/

Scarlet

Go ahead, filter all those who post things you don't want to hear. By doing so you will find yourself in an echo chamber. Even village idiots can utter words of wisdom on occasion!

I agree with your conclusion that the sands issue, whilst worth clarifying, is unlikely to be applicable. The more important issue, imho, is whether focus on Cu/Au alone in the rest of the RNS is significant, and operates to exclude other elements.

Prospector It certainly makes no sense, as you say. They simply cannot be that dumb.

Nevertheless, the wording in the RNS needs clarifying fairly urgently. The 6 4 22 RNs, as Razz says, refers extensively to Cu/Au KPIs etcs, with no word on other minerals. It mb that bcos they were only seeking Cu/AU at that time, they simply omitted others from the RNS....after all, you would not expect them to publish the whole JV agreement.

But ambiguity needs to be clarified, and soon.

Reading that RNS (it was 6 April 22, not March) i can see why the OP has raised the question, which my earlier post was unfairly dismissive of.

I still say they cannot be that dumb, but it is entirely reasonable to ask them to clarify. That wording on 6 2 22 does leave some ambiguity.

Are you suggesting the co is puruing a project on resources on which they have no claim? Come on, they're not dumb. This is not a mineral sand resource. It's rock.

Can you please advise where this is posted originally? I don't know what bsp means.

We see things differently, which is OC the whole point of well conducted BBs. I do not see the article I posted as pure conjecture, tho it had elements of that. A good part of it focused on the issues that concern me, and others, around the commerciality of titanite processing. I won't go over that again, I think I've made my concerns clear already.

ML

I have invested considerable time to research this share and am still interested in the story. If things develop favourably, there may well be an investment opportunity here at some point....I just don't think that point is now.

What time or day i post is irrelevant to me, i just post things that seem relevant.

But overall - like many, indeed the vast majority - of bb posters, you exhibit this feeling that negative posters shouldn't be on the forum.

I consider that exactly wrong. BBs quickly become a church of the converted, where the foibles of human psychology mean investors with money at stake really, really, want to believe. I always welcome sensibly put, factually based, negativity, for the sake of balance. If t can be refuted, fine, but debate is healthy. Driving away any poster who is less than fully convinced diminishes the board, but often happens. (Not accusing anyone here, tbc)

So there it is. This is a v interesting share, and story. I'll continue to monitor, and post. I may, or may not, trade from time to time, tho tbh ST trading is not my forte.

Actually, re reading that, perhaps the statement from 2 weeks ago "I have little doubt that the process will be proved, and that at some point EEE will be valued at many times today's" feels a little less robust at the moment.

Your post earlier

"I have to say I’ve been a little disappointed to see your recent posts on EEE. I know you a long time & I know your stance on Empire or I thought I did.

Your tone has changed dramatically this last 2 weeks & the only reason I can attribute to this is the below!

You 2 weeks ago:

“ Let me say that i have no technical expertise here from a mining perspective, and am no stock market guru either. , so DYOR, etc, but i have reluctantly taken my stake off the table for now. Might be a big mistake, but capital preservation remains the priority for me, and if i miss out so be it.”

I’m assuming you’re still not invested & you have preserved your capital so well done but it now seems that you are driving or hinting at negativity rather than being happy with your decision. You might have been right, you might have been wrong but sadly it smacks of someone now having sold out wanting to drive it down (or hope it does) to get back in or ensure it doesn’t rise proving your sale an incorrect decision. I find it unbelievably strange to see you take the time to start a thread on a Sunday in a share you left two weeks ago. You’re far better than this & as I said it’s disappointing to see. "

My positio is very much as stated in the rest of my post 2 weeks back

"It appears that refining product from titanite is a relatively unproven process, not in use at any scale within the industry. Given the innate conservatism both of industry generally, and investors/financiers in particular, it's my fear that all relevant parties will be looking for EEE to provide proof of concept and economics before true value gets recognised here. Given the need to raise several $$ms later this year to finance that, and the tough market we are in for early stage companies, we have a rocky year ahead, SP wise.

I have little doubt that the process will be proved, and that at some point EEE will be valued at many times today's. But But the reaction over the last 2 sessions seems to me to indicate that markets at the moment have little appetite for shares like this until they are much closer to production, aside from ST specculation. "

My posted link to the Charle Archer piece turns out is a week old, and the author seems to be ill regardede by some ; I had never heard of him before. But i am less interested in his history and motivation (relevant tho they are) and more in the substance of what he says, which accords in the main with my own views AT THIS TIME.

As more info emerges, my view might change, as it did when the titanite analysis emerged.

As ever, of course, all imho, dyor etc, ...other views are available, especially here!