Member Info for HarChris

And if anything gold price is itching to go higher. Could well be looking at almost $2000/oz margin soon.

Can you imagine if a year ago someone told you THX would go on to make $90m net profit in 2024 and would be beginning 2025 with a $1750/oz AISC margin?! The current margin isn’t far off the full gold price a year ago - the only downside of 2024 was slightly lower production than targeted but that’s will be transferred to this year… so we’re looking at perhaps 100k ounces at an AISC of $900/oz!

One could argue that Douta PFS is a quarter behind initial target and Segilola extension is taking its time but until mid 2024 Thor management were prudent with their cash resources, focusing on debt repayments above all else. Now it’s all systems go, there will be no pause between PFS at Douta to DfS to construction - they can crack on even if the debt financing has concluded.

No holding this back now.

Got to laugh at home definite you sound about something totally unpredictable.

Even if they do get a new hosting deal (highly unlikely) these machines won’t be operating at full efficiency for long and will all need replacing within a few years.

The majority of drop isn’t priced in whatsoever, the market cap is still sky high for a company with virtually no business left + plenty of debt.

£90k / 500K shares @18p - hello!

For ages the main argument against THX was its low mine life but that looks nailed on to change now. Will actually have two mines on the go rather than zero.

Not only that but THX have gone from making $10m per year for a finite amount of years to $90m this year and well over $100m for the next couple - surely that’s relevant too?!

Segun’s ambition to take THX to mid cap status is looking more and more likely.

RNS’

Always helpful to get something unexpected like this - grades look highly promising. Now pretty certain THX will be a multi jurisdiction producer of 150k-200k oz from 2027 onwards.

15 days in Jan and expecting three end’s - one a week!

No way you can say something like that with certainty - this is 2025 and AIM. Anything is possible.

I agree it's unlikely though and if it were to happen it probably wouldn't sit there for long before moving significantly north again.

Funnily enough Adw I went back recently, about two years, to see if Thor had missed numerous deadlines on that front, as like you it felt like the Segilola expansion plans had gone on forever...

Surprisingly it isn't really the case. There has been virtually no deadlines given throughout the continuous drilling campaign until recently - if I remember correctly we were told in the last Q&A to expect the mine life extension plan during Q1 of 2025.

Kinda makes sense. Initial mine life has them producing til ~end of H1 2027 so plenty of time to plan for the extension beyond 2027. Another near term catalyst to add to the pile.

A reminder that in recent interview ceo Segun Lawson said we should see AISC remain below $1000/oz through both 2025 and 2026 so just look at that margin if POG goes higher than averages around today’s price of $2650/oz - and it’s all crystallising to cash as there’s no tax to be paid on any of that profit.

Then there’s the processing of the stockpile in 2027 with what will be Douta operating alongside with MLE seeing both mines operating together hopefully til ~2030. Beyond that there will be Douta plus whatever new business THX have carved out with their $100m+ per year profit.

Ignore the OP.

Somebody is loading up, starting from 17.5p yesterday and now at 18p.

Been a long wait but finally getting the inevitable squeeze.

Anyone buying N4p yesterday after 8am is well down now.

Very rare for Thor to tweet besides sharing their operational updates - just a short video highlighting the case for buying gold but interesting all the same to share it now:

https://x.com/thorexpl_thx/status/1877327219892027839?s=46&t=L7k3nxfxN_9xwjjIedxUrA

Actually what I’ve said, repeatedly, is that I am as near to certain that Argo fails as a business. Hence my comments re shorting. I stand by those comments.

I haven’t called insolvency for a while and still think they’ll limp along until the debt maturity in 2026 but they’ll be limping along at 1p rather than 10p and doing small raises in the meantime to try and keep some semblance of a business going.

Lets’s face it, bitcoin is $100k and Argo share price is sub 5p - I’ve not exactly been wrong on this one.

That’s true but with the bull market taking off there was at least a veneer of a business if the hosting agreement had been extended, producing 40 coins a month at say $150k would have seen a healthy margin but 7 coins at $150k?

After the next update this will no longer pump alongside bitcoin - it’s already lost alignment as it is.

For those wondering about my previous comments, having spoken to Segun I took from what he said that the PFS was completed in late December and it was merely a matter of releasing it at the most opportune time with the most eyes watching, ie not the Christmas period.

Of course he could just have been using that excuse because the Q4 deadline was missed but either way it really must be any day now.

In the meantime, against a difficult market backdrop, the gold price remains robust and if anything looks to be going higher. These Jan updates are going to make a splash.

Trying to have a meaningful discussion here between all the childish squabbling.

So Chaebol, if they are 110TH/s headline performance would you say we’re talking something like 2.4EH/s at Helios and 0.3EH/s in Quebec?

There really is no business left here when that info comes to light. Chippas basically has this month to try get a raise away / stir up some interest re HPC before the house of cards collapses.

I don't currently hold so no need to consider my comments a 'defence'.

But that steep fall in early 2024 came after an update which looked like STX were in real danger of requiring the mother of all dilutive equity raises to get back on track. However some clever financial gymnastics managed to get things back on track, firstly by taken an advance on the cash they would eventually receive on the China approval milestone. Taking 50% the total last year instead of waiting years for the full amount was a smart move. They then saw an expansion of their Sallyport facility plus two $10m subscriptions from AOP at 4p and 3p.

If the next trading update shows further operation progress, say $50k+ prescriptions at $225 net, then STX might just pull off the recovery, against all odds.

I'd buy back in on any further share price weakness.

I said the PFS would be with us by the end of this week, could that large trade at 17.9p be someone in the know? I hope so!

I think these 23000 machines are considered to have a total hash rate of ~ 2.3 EH/s and so the machines in Quebec make up 0.4EH/s…

In other words with no home for the Helios S19J Pros Argo has less than 20% of the mining power it had before and will be mining 8BTC per month tops.