Member Info for greengrass7

I asked the broker Hybridan weather PJ had paticipated in the placing. They were very professional and would neither confirm or deny. I know were my money is.
I suspect what little was left of PJ's reputation is now destroyed. I once read he is known as the'Fagin of AIM'
I await Doc Hollidays assessment of these developments, but i suspect surprise won't be one of them.

There you go folks, a significant holder was feeding the market with shares thus destroying the price, as i predicted 15/10/19. Going from 5% to no discernable interest is millions of shares, which in a fairly iiiquid stock like Thor, will have taken a number of weeks to achieve.
While PJ is at liberty to sell when he wishes this has been done surupticiously, with noTR1 until all his stock is sold. This is a major reason the placing price was so low. What price he has replaced many of his shares via the placing.
Looks very dodgy to me.

Interesting re Pilot Mountain. Would we not be better selling this asset and concentrating on Aussie. Must worth a reasonable amount as it contains elements on USA critical metals list. Any of you money guys have any idea about a valuation?

As well as Mick geting very well paid for his efforts, i see Ray Bradley the company's 'Exploration Manager' gets in excess of 130k a year.
I think i would give up retirement for that, especially as getting results doesn't seem to be neccessary.
Also from the final results-
Executive Director Service contracts

All Directors are appointed under the terms of a Directors letter of appointment. Each appointment provides for annual fees of Australian dollars $40,000 for services as Directors inclusive of the 9.50% as a company contribution to Australian statutory superannuation scheme. The agreement allows that any services supplied by the Directors to the Company and any of its subsidiaries in excess of 2 days in any calendar month, may be invoiced to the Company at market rate, currently at A$1,000 per day for each Director other than Mr Michael Billing who is paid A$1,200 per day and Mr David Thomas who is paid A$1,500 per day.
Very Nice, no wonder the company is skint.

Orion 10, that's a hell of an interview. When can you start?

During the last 24 hours i have had a number of e-mail and phone conversations with people connected to the company,including Mick. My conclusions are as follows:-
1 There is genuine disbelief that a deal for Molyhill has not been struck.
2 The original placing was for .30 but there was a reluctence from approached parties to participte.
3 There is belief in the assets.
4 A change of management may/will be needed to realise the value of said assets.
5 Years of over promising and under achieving has seriously undermined confidence, which i guess we all know.
I think with the right management team this can be significantly turned round. I would like to see MTR take over the reins, while some commentators vilify them they seem to be decent deal makers and as a bonus they have the backing of Sprott.
We need action ASAP because as has been pointed out 500k isn't going to last long.
P.S. my reply e-mail from Mick was sadly, in my opinion, very underwhelming.

FCA Tweet 'Don't let a scammer enjoy your retirement. Find out how to protect yourself from pension scams.'
Reaction to this from Andrew Neal on Twitter-
Does that include weak CEO’s who capitulate to new brokers who trash the SP with ‘we want a lower placing price’ & create speculation forcing an RNS to further weakening the SP = short position covered

Roll on Nov AGM to remove old guard with no balls who’ve destroyed LTH.
I wonder who he's refering too?

Why would the company want the price to tank to facilitate a placing, it doesn't make sense? If you want to raise a million quid you're going to have to issue twice as many shares at .30 as you would at .60 thus diluting everyone's holdings more, including the directors.
As to evidence of a leak, hardly going to be in the public domain. Who would know about ithe raise? How about the broker and those who have been approached to participate. One person tells another and starts the domino effect,Mm's would get wind of it very quickly and i doubt they would hesitate in benefitting.
A similar thing happened in ROCK a couple of weeks ago,trading at .60, sudden fall to .35 and lol and behold placing at .30 a few days later.

a1m, i believe the company did the correct thing in releasing the RNs, someone in the know has clearly used this inside information to their advantage,at least now we all have some knowledge of the situation.

Paul Johnson is a serial ramper of the stocks he holds via his Twitter page. He holds 39,575,000 Thor shares yet has not commented on the price fall or the sitution for a significant amount of time. If you held shares that every tenth of a penny movement changed the value of your holding by the best part of 40K wouln't you maybe mention it? His mate Andrew Neal who also claims to be share holder, has also been very quiet. Strange don't you think?
As a balance while PJ ramps his interests with nauseating regularity, he does generally put his money where is mouth is.

Alf, i suspect a deal has not been done because Mick has been unrealistic in his expectations. It's a tough market and compromises have to be made.
At least the fund raising will remove some of the uncertanty, i hope it's for a decent amount, not just a few quid to pay salarys.
I don't want to see the paraites, Noveum, YA etc involved.

No shock here ,it was inevitable. What can we glean from this ?
The usual city gobs**es in the know have forward sold with the help of their mates the MM's, also in the know. If thats not insider trading i'm not sure what is. This effectivley mean the placing price will be lower meaning more shares will have to issued to raise the requisite amount.
It possibly also indicates any deal is not close,if it was we wouldn't need to raise.
I hope that MTR invest heavily in the placing, i will certainly see that as a vote of confidence.

Orion 10, if you are someone in the know as it where ,could you please tell us who the constant seller is as there have been no rns's. The MM's seem to be able to drop the share price at will.

Fair and valid points Willowman.
I have read through the rns's regarding MTR's investment here and i just can't see them letting it fail. They have a man on the board and i seem to remember reading ,a while ago, that they have a clause that allows them to get involved with any new deals, including funding. Putting Mick's failure to get a deal aside,the reason the share price has fallen is because someone is steadfastly selling. There have been no changes to the signicant holding amounts so it can only be a short. If MTR and PJ are still holding i see that as a positive.
I might be completely barmy but i have added another million to my holding at .362 (last trade). My average was 1.8, i now intend to bring this down by taking advantage of what i see as an sale price.

dodgy dealings continue. .375 mid, quote to buy .362 ,NT to sell. Mm's after buyers.

I find it surprissing that MTR, as a plus 9% shareholder and a place on the board, have not intervened in any way. I believe there average is around 3p.

Baggy i agree. Mick's interview is very disheartening, pretty much his same respose as to any interview in the last twelve months.
My impression nice bloke,likes conferences and metal detecting in the outback. No good as as negotiator or businessman.

Of course it could be naked short. If the companys broker is offering a placing aroud the city the MM will know the probable terms and are able to to price acordingly.

Hi Baggy, I,m offering a possible scenario. The whole thing smells. Weather my scenario is correct or not i don't know. i certainly hope it is wrong as it is moraly corrupt.
PJ has stopped ulagising Thor on his twitter feed, preferring to post company news feeds only. Read into this what you will.
Those conected to the AIM market seem to do as they please as there seems little will from the authorities to intervene.

Possible scenario.
Large 5% shareholder resigns from the board after a difference of opinion with Mick. Realising that Mick is unrealistic in his expectations and therefore highly unlikley to get a deal quickly, this significant shareholder decides to make a few quid whilst starting the long wait. He does not want to sell his shares as he suspects long term the company will perform well, so he decides,using his city contacts, to lend his shares to a broker/mm for the purposes of shorting. Of course for this he gets a generous fee/commission and the broker/mm know they can't lose as they have access to millions of shares in this illiquid stock with a wide spread. Both parties know that the longer the uncertanty goes on the lower they can drop the price. This means that once the suspected discounted placing occurs the lower they will be able to access enough shares to cover the short position and return them to the lender. In the mean time the lender has not only got a healthy return from lending but as a signicant holder he has been able to buy millions more shares in the placing thus significanly reducing his average price. When a deal is eventually done he sells for vast proffit. PI's especially those who sell on the fall are sh****d but as i belive Eric Sprott once said PI's are the plankton of the financial world, so our shorters aren't bothered.
I don't know if this scenario is probable, but i guess it's possible.