Member Info for HarChris

Absolutely. I ignored many red flags, partly because I was in communication with Shishir and he went to lengths to stress that things were better than it seemed and that the share price falls were only a temporary blip. I sold about half of my shares much higher but still at a loss and the other half around a 6p average. Painful.

Survival seems inevitable now but the big challenge is doing it in a way that protects current shareholders. That’s not easy and the truth is the new board don’t benefit at all from it so will they be incentived to do so? Or will they let the share price come right down and reset with hundreds of millions of shares in issue and their options package at a new lower baseline of a couple of pence? That way they only need to see it back at 7 or 8 pence to make a healthy return.

It’s not great that Shishir has gone and taken millions of shares at a good 20% discount to the closing price before suspension, at 5p. That immediately signals a lower price to begin with.

I don’t think this was previously shared - supposedly the first in a series of videos.

https://youtu.be/DYYe1H5TowY

It’s unlikely that this new board will be able to pay themselves a salary for a while so I can’t see any other alternative than large option packages.

Don’t underestimate the task they have on their hands. The operations at Vatomina and Sahamamy have ground to a halt with I’m sure dozens of angry unpaid local workers that they need to get back on their side. There’s a fair bit of debt due and the problems in Mozambique are mounting… all against a graphite backdrop that is less than favourable (there isn’t a single peer that’s actually thriving).

I’d say chunky options is the way to go, rewarding this board in 3+ years time if they keep the business afloat and see it actually growing by then.

Certainly going to be interesting to watch this play out over the coming months and years.

Is that you Mark with a new account? ;) I’m just joking.

I’ve been looking at the background of the board members again today and have to say it really is impressive, like you say.

For the first time in a long time I’m optimistic about TGRs future and will be looking to buy in again at some point for sure.

‘’further 266,666,666 will be issued to AUO over the coming months, raising an additional GBP2 million"

So would that make the subscription price c1.25p‘’

________

No? To get the price it’s £2000000/266,666,666 =£0.075 or three quarters of a penny.

The charts will never predict takeover interest, which if it happens, will see the share price rise multiples in the blink of an eye whilst traders are sweating over a few percent movements here and there.

The closer we get to being in ‘buy out’ territory the less there is to gain by continually selling the news and waiting for a possible new and lower entry - news like yesterday edges us ever closer, especially as the trials from this point forward should progressive rapidly.

It's not rampy to promote a company now capable of generating $40m net profit per quarter! One whose share price is lower than when it listed on the LSE 4 years ago before it had ever mined an ounce of gold in an untried and untested gold mining nation. At a time when the price of gold was the same ($1800/oz) as Thor's current NET MARGIN!

The problem for us is that the numbers are already known and not causing any hype. It's just what it is in the short term - if suddenly Thor had announced that net profit was increasing 9 fold in 2024 from $10m to $90m this would have multibagged overnight but it happened gradually and the market never took any notice.

We'll still see 35p+ eventually from the fundamentals alone but with the right momentum and gold buzz double that again should be more than possible.

‘IMO the fall in the SP will start again tomorrow’

Peggy’s predictions strike again.

60p isn't even $500m, from a fundamental perspective if all goes to plan as expected that's still cheap but we do have to accept that THX has always struggled to command a top end valuation and so something would have to change for that to happen. Management will need to be full steam ahead on delivering in its plans of becoming a multinational producer as well as going on a significant PR drive and the upcoming catalysts will need to cut through - those two new potential catalysts in the coming months are the announcement of dividends or buybacks and the PFS.

Let's see where we are in March/April, especially against a backdrop of gold approaching $3000/oz.

Roach by name, roach by nature?

QBT will be higher than Argo soon!

Sorry, having keyboard issues so a number of spelling mistakes but you get the gist.

I personally have my reasons, for example, why I wouldn't invest in SRB today but would I go on that bb just to inform everyone? No of course not.

You can on here with different versions of the same thing 2 days in 3. The first day end amicably and then out of the blue you popped up again today so wasn't you being lured in.

And there's no mindless ramping on here, every regular user discusses the investment case from all angles.

54retiresoon, it’s better than that. This is 90% disease control rate, 4 minor responses and partial response from a phase 1a study where patients were in no way specifically targeted to respond ie some will have already had Dox, most heavily pretreated.

If these results repeated would be enough to be approved due to the high unmet need then the chance of suddenly failing following meticulous hand selection (well AI also through Tempus) must be minuscule.

Peggy no need to be sour just because the share price is close to double your 0.75p placing prediction. With all your sub 1p forecasts perhaps show some humility and wait for ‘said fall’ instead of risking another failed prediction.

‘Bad news’ took this down from 1.8p, good news that directly counteracts that bad news entirely would, logically speaking, see the share price back to where it was before LML application rejection. Especially as we’re now at a far more exciting juncture with a full season of drilling ahead in Zambia.

But we’re in risk off markets at the moment and we just have to accept that wider market conditions are acting as a headwind - at some point we’ll have a tailwind behind us and the recovery will happen in a flash.

I’d say this Mhow… considering the reputational damage Shishir caused this is about the best board you could really ask for.

Do I particularly like the look of Rollins? Not really but he’s chairman rather than CEO, the main managerial guy looks very impressive.

Beyond that I don’t have a strong opinion besides ‘this new board is light and day vs the old board’. Again, whether they make a success of this is obviously unknown but they at least look like a diverse competent lot that might be able to tolerate each other.

It wasn’t that Shishir couldn’t attract talent, it’s that he couldn’t keep them. Murat, Isobel, these were good board additions but they detested him and walked leaning Shishir to being his daughter and anyone else from lower management willing to do a shift !

Whether Dx was sold in November or February makes little to no difference, either way they are funded up until that point. I am happy with the progress of the trials, a few weeks here and there makes no difference.

The reason the share price is as depressed as it is has nothing to do with it being ‘business as usual’, it’s anything but business as usual. It’s to do with the challenge of changing the direction and repairing the reputational damage that Alastair’s one too many missteps caused. That is not an easy challenge, six months isn’t is a relatively short space of time to do it and they are getting there, they are already marketing themselves as a therapeutics business even if it takes a few more weeks to officially be rid of Dx and they are not going to repeat the mistake of a bucket shop placing on AIM.

Sentiment is a fickle beast to overturn. Christina is, in my opinion, getting the building blocks in place to achieve that soon. The CFO is in place, next comes Dx sale and then it’ll be full steal ahead with P1B. I don’t think she can do much more than avoid the missteps of AS and keep delivering.

As for the timelines she hasn’t missed any. Dx will be sold when it’s sold, in a market as s*** as this it wasn’t likely to be disposed of immediately unless they sold it for peanuts. Phase 1 RDE competed to timeline, phase 1B is touted to be complete around mid year. So far so good.

Ps one user criticised you (not me) and you went on to post 5 replies in a row to it - that’s a bit excessive.

As I’ve said time and time again every holder knows that being based in Africa is, relatively speaking, high risk. They will have, like me, decided the overwhelming undervaluation on a fundamental basis has become so extreme that the risk is worth it.

As I’ve pointed out before THX will make a similar profit to Centamin in 2025 and 2026 (CEY own 50% of their mine, have a much higher AISC, and pay 25% corp tax) and yet are valued 17 times higher after recent buyout.

To me, the difference in risks between Nigeria and Egypt are not so extreme that a company making 80% net profit of the other should be valued at just 5% of what they are.

* ps I just find it bad form that you feel the need to keep highlighting the risk operating in Nigeria when the reality is that it’s been very welcoming to Thor, including incentives such as a five year tax holiday.