Member Info for HarChris

I’m with you ontarget, although admittedly I don’t fully understand what Schmidt was alluding to anyway.

It’s also worth noting that there’s a whopping stockpile that’s growing and will require mere processing at a very low all in cost at the end of the mine life, in 2027. That is going to bring with it enormous margins in the first year after the tax holiday.

This really is a sit and be patient share at this point. I look forward to the accounts that show the progress in black and white rather than going off my own calculated numbers.

Usually I’d agree but they are generating more cash than they can immediately deploy. It’s a rare problem to have! And it’s not a definite, Segun is very much looking into dividends too.

I don’t think anyone can argue that a small cap able to fund all their projects AND pay out a sizeable dividend is in poor health.

Appreciate this insight BBN.

Whilst I'd prefer to be entering with guarantees of reaching profitability within current resources the risk/reward for me is too good to let up at 2.4p so I'm in at this price.

This feels like a very relevant sector right now, consumers are ever increasingly going the discounted online route and the products being sold by Nutricircle and Boop Beauty are those I can see HUD carving out high margin on.

Yes the most recent trading update wasn't unequivocally positive but to see such a sell off with revenue growth at 485% and a still healthy cash position (with zero debt to worry about) is nonsensical to me - with the warehouse space at least doubling and the ability to share costs across the three major brands going forward gives me confidence that alongside ever growing revenue we will also see margin improve and profitability reached with a quarter or two. (I'm no tik tok user but having taken a look at BB it's clear they are gaining traction on there). And it also sounds like BBN was informed of numerous other initiatives in place to bring those costs down further.

Look forward to the broker note that was alluded to, hopefully that will be a turning point as HUD's story is disseminated more widely.

Those reaching out to management know full well that THX alongside Canaccord are looking seriously at buybacks. My suggestion was to announce a price in which the company will buy back any share below, ie 30p/$250m mcap and I know that's something they are thinking about, essentially setting a floor at the price they choose and committing to keep buying up to that price/when it falls back below that price.

My last discussion with mgmt on this theme was when share price was at 17p so recent rise might see them leaning towards dividends instead but we are in an enviable position all the while the cash flows through the accounts like it is currently, if share price drops short term it just adds to the future benefit of buybacks.

Far from ramping and screaming ‘BUY’ ‘BUY’ ‘BUY’ I think it’ll take time for the ATH to be broken as I keep saying.

There are lots of potential catalysts coming up, which one or which combo captures the market’s attention is impossible to predict so we just sit and wait for the next few months to unfold and hope the POG remains as supportive.

There are not hundreds of companies on AIM following up a $95m net profit with as much as $160m this year, there are almost none like that.

As I said yesterday resistance again at 23p might require news to get past but be sure that when it comes we’re up, up and away.

Will almost certainly have had a lot of news and early p1b data by late April.

'q424 model update: preparing for a big year of cash flow'

https://*********************/companies/uk/thor-explorations-ltd-/research/canaccord-genuity/4q24-model-update-preparing-for-a-big-year-of-cash-flow/85_1c04cd39-df7f-43ba-b8c2-394a8b899441

sadly i don't have access, if anyone does and can post that would be great.

If there’s a buyer sure but I doubt they’ll be in a major rush to flog it all, I’m sure Segun believes in the gold price remaining high medium term.

I am interested to see if they enter into another forward contract though. Personally I’d be alright with seeing 15k ounces hedged at say $2750/oz for the next year - that’s quite the safety net.

The numbers at this gold price make the investment case very easy. THX is already a debt free producer with substantial net assets. They can now go on to produce around $350m net profit just over 25 &26 against a market cap of $180m.

There will then in 2027 be both mines operating side by side til hopefully ~2031 in which time further development (I.Coast, who knows what else?) will likely be added to the group alongside Douta.

There is plenty that could go wrong and it would still be impossible to argue against a valuation higher than todays 22p.

Perhaps we should take this lack of op update as meaning they aren’t mining enough now to warrant monthly updates.

Essentially they are just an artisanal debt ridden bedroom miner.

Reduction in percentage holding following the admittance of placing shares.

The spokesmen also put out announcements stating they had shut down the mine etc.

It all turned out to be nonsense and the federal government emphasised that the power re mining lies with them, not the state. Since I haven’t been monitoring communications from the Osun State and they have completely stopped mouthing off about Segilola.

It seemed hairy at the time but once we realised the state are essentially powerless the market has calmed and the share price has risen over 50%.

Q4 results are incorporated into full year financial results hence April.

This quarter the big news will be the PFS as well as committee report… and possibly dividend/buyback announcement. If not that will be q2.

Then April full year audited results and q1 op update, then May q1 financials. And more drilling results from Segillla + in June a maiden lithium resource

Quite a lot of news over just three months.

I may be adding when I can but I don’t ‘appreciate the discount’, not when we’re being diluted every three months and may well need to raise again in the next six months or so.

I don’t appreciate it at all in fact.

‘Let’ is a strong word, it’s obvious that they want to avoid heavy dilution down at this level if at all possible. To do that they needed to sell add (hopefully any day) and get enough data out early in 2025 from 1b to negotiate a positive LD, partnership or at least have a stronger share price to raise against.

Obviously this strategy is a bit riskier though so have to hope their belief in just how good the next set of results will be turns out to be warranted.

· FY 2025 production guidance range set at 85,000 to 95,000 oz of gold

· FY 2025 All-in Sustaining Cost ("AISC") guidance range set at $800 to $1,000 / oz

Taking mid point that’s $2000/oz margin at 22.5k ounces per quarter ie $45m profit per quarter.

10% sales hedged in q1 so margin more like $1900/oz but full margin from q2 onwards.

Blatant attempt now to avoid sharing the real situation behind the scenes - if holders wait for it in black and white later this week before selling then they really are asking for it.

It was a very busy and very enjoyable week at Investing in African Mining Indaba 2025! It gave me an opportunity to reflect on Indabas past, particularly that of 2018 when we were participating in (and won) the Investment Battlefield competition hoping to catch the eye of investors willing to fund the Definitive Feasibility Study of the Segilola Gold Project.

 

The Segilola Gold Project has since been built and completed three full calendar years of gold production and having fully repaid its Senior Debt Facility to Africa Finance Corporation.

Our aim as a company is now to grow through the extension of the Segilola mine and through the development of the Company’s Douta Project in Senegal where we intend to leverage off the experience gained in Nigeria to build our second gold mine from a grass roots position. We have also expanded our activities into Cote D’Ivoire and are excited by the opportunity to grow through exploration in a new jurisdiction.

Overall, it was great to connect with more people, discuss bigger ideas and hear different perspectives to unlock Africa’s mining potential.

I had the privilege of speaking a couple of panels, where we tackled key challenges regarding policies across the African mining landscape.

Beyond the panels, I enjoyed that we were able to bring a diverse team from across all our operations to experience Indaba and Cape Town firsthand…. A lovely place to be at this time of the year!

We are all excited by what lies ahead for Thor Explorations in 2025!

https://www.linkedin.com/posts/segun-lawson-188ab62_thorexplorations-segilola-gold-activity-7294788078936686592-gHU_?utm_source=share&utm_medium=member_ios&rcm=ACoAAEF8FNAB_aQt-bxX7NfSTJJPvogLrACz15U

I’ve said my possible reasoning… to surprise to the upside.

A similar thing occurred in December when everyone on here was saying that there is evidently delays and then suddenly we received an update that showed RDE arms had been ongoing and p1a is in fact complete.

It doesn’t hurt to create a bit of doubt on AIM if you’re then able to follow it up with a bumper RNS revealing all.