Member Info for HarChris

Chaebol, I remember about six or seven months ago saying on here to keep focusing on the gold price and the fundamentals because if that comes good a rise is inevitable, it'll either happen organically (expected) or in the worst case it can be made certain through share buybacks. We're now there at that stage, all we're waiting for is the confirmation via RNS.

We are very close to the finalisation of this Dx sale that should double cash position to at least £35m and we’re at most six months away from having a massive amount of data from patients that should all respond to Dox, hence showcasing clear efficacy before further funding is required - with your sensible head on Wyn surely you can see that now, at five year lows and on the precipice of a milestone we’ve been waiting for for yonks (yes because of the extended p1a) that there is a decent chance this turns out to be THE buying opportunity, that we’ll look back and see this as the opportunity to accumulate … or are you just a permabear now?

Would be nice to get confirmation of strong cash generation even at current 500oz - puts all funding risks to bed with blue sky upside all the way to 1000oz pm.

The company is in the best position it’s ever been in by far… By a country mile, beyond anyone’s realistic expectations a few years back. All we need to see now is the flow of news land and for the share price to break through the all time high, from there the sky is the limit with no further resistance and the potential for share price to go ‘pop’.

The closer we are to that ~23.5p price prior to news the better. We’re close enough as it is.

I keep cycling between thinking you’re calculated and just accepting you’re just thick, it’s a real tough balance.

Literally one post to the next saying ‘rampers are desperate’ , ‘rampers have sold out and gone’ , ‘rampers are desperate’ , rampers have gone quiet’ - it’s the investors’ version of schrodinger’s cat!

‘A rising tide lifts all boats’ , well we’re just seeing the opposite in action at the moment, we need positive news to detach from the rest of the flagging small cap market.

Next month's annual report will show the 2024 full year financials - we are looking at $90m net profit (or just over) and from that the AFC loan was paid off + associated interest, so was the EPC contract, the gold stream liability will have reduced to ~$10m and the accounts payable reduced to a level that gives THX a working capital surplus by end of 2024. Combined that reduction in liabilities will have consumed ~$55m of the cash generated, another $15m-$20m funding the PFS and the drill campaign at Segilola and the rest adding modestly to the cash pile.

2025 starts with the liabilities fully in check, with perhaps $6m likely allocated to the gold stream liability and that is it. So we jump from $90m net profit to as much as $160m net profit with $50m less needed for liability reduction - what does that mean? Well besides say $15m directed at exploration there will be (POG dependent) $100m+ cash to add to the cash pile/deploy for buybacks. It's enormous firepower to truly intervene and get the share price rerating, with barely a fifth of the available funds.

Buybacks are going to make a massive splash once investors realise just how much cash THX has (and growing) at its disposal.

EBIT for Thor is net profit because there’s virtually no interest and no corporation tax ie net profit $40m per quarter / $160m full year.

Sounds about right although hard to see it go to zero, not in timeframes we’re talking, would take many years of failures, bad luck and ineptitude. More like worst case scenario -50%, base case 3X, all the way up to best case 10X

Noel, I call it repetition of salient investment case factors, jostling for attention against a backdrop of nonsense spam. It might get a bit tiresome for some but for others I’m sure it reinforces the arguments when they are losing patience, which might help to hold on long enough to see the big rewards here.

This is my largest holding by far and I am still adding til this takes off so perhaps some of my posting is also to help ms personally too, to reinforce what I already know when impatience kicks in a bit... I’m happy to admit that.

All the best Noel.

Clsk, 10m??? 1.1% of the company? Fair play!

The most recent post on GRL bb nicely sums up the highly favourable risk/reward - far from risk free but A LOT has to go wrong to see a loss from here and not all that much right for a tidy profit.

Also this tweet here shows why the costs actually should be far, far below current gold price: https://x.com/bigbitenow/status/1897235706931728778?s=46

CLSK I added heavily this morn in grl- the pullback looks like quite the opportunity to me before next monthly op update next week.

Just look at the total value of the assets before we even start talking a potential profit that exceeds current mcap.

Get it right and 10p is a realistic target.

Interestingly all the recent posts on the SRB board are those saying they sold out of Serabi to buy into THX. Now we have Pedro buying and Noel also bought recently. I got a private DM on twitter from another Serabi holder that’s moved (most of) their holding to THX.

I sold out of srb too early but good luck to those who might just have timed this perfectly!

I reckon this deal only goes through alongside a share price pump and an equity raise of say $15m to $20m over the coming 20 days (exclusivity period) - if achieved that would be a derisking and deleveraging event.

As the reaction is so far very muted to say the least I lean towards the deal falling through.

Noel, I’ve noticed that when you randomly attack me that’s all fine by you but if I were to do that suddenly to you you’d be outraged.

I won’t, but I’m pointing out this little inconsistency... Otherwise hope you’re well and keep topping up after your recent buy.

I’m confident we are close to an announcement re dividend or buyback and with this share price weakness it makes sense to go for the latter - share price weakness won’t survive a massive buyback intervention, it’ll be very short lived.

Might not get the lowest price in the end but I’m so confident that whether 17p, 20p, 23p every buy will be in solid profit soon. In the meantime the severe sell off on AIM weight down on all stocks.

Cheers John, I did notice that after.

I’m not a holder currently as you know but there’s plenty of reasons to be optimistic again - good luck and all the best here.

Gold isn’t up and down like a yo-yo, it keeps breaking all time highs.

Of course it retraces slightly at each interval but the trend is firmly in one direction, north.

So first the positives - it does sound very positive re the operational start up at Vatomina. If they are able to match their talk with their walk then 1000MTpm mid this year and 1500MTpm by end of the year would be fantastic. Achieve that and there really is a business here to salvage, despite all the short term pain as now to be discussed:

So first the £900k due for the original CLN is being converted to shares at 5p, that's 18m shares + accrued interest also at 5p a share. Next £1.74m of new CLN notes convertible at 5p have been committed, with a 1:1 warrant attached to that's potentially 70m more shares.

And if I've read it right there is also a separate placing being lined up too, with now no mention of major debt financing. So how much is this going to be and do we assume 5p again? £2m and 40m shares? £4m and 80m shares? Or possible even more?

And there's negotiations going on re the £1.9m CLN maturity needing payment by July.

Oh and there's still substantial accounts payable, payments to Pranagraf and £0.5m owed to staff/directors/former directors which 'may be settled in equity'

As said at the start of this post if they nail the operational side they will attract debt finance next year and there will be a return to be made from 5p but in the meantime there could be as much as 200m shares extra added first which does limit the upside somewhat.

Still, there is hope now where there wasn't any.

I guess if buybacks are the next announcement then this share price weakness is irrelevant - average volume is 200k shares a day, if THX announce something like $10m/£8m put aside for buybacks that's a determined buyer with ammunition hundreds of times the daily volume.

We'd see 100% rise and more in the blink of an eye.