I’m pretty sure MTR has put Mark Potter on the board of Thor to make some changes. What these changes are I don’t know. But I’m sure we will find out soon enough. I expect the fundraise was some at 0.2p as it was a better alternative to calling in the administrators!
A sad story THR. Clearly no one interested in funding Molyhil and the old Board THR directors lifestyle for at our expense. Good MTR have sent in a hitman to sort this out. THR AGM is up soon and we should vote off the THR cronies
Sandfire also pays a dividend to shareholders so MTR will now have income. A stronger, more liquid balance sheet and dividend income means less / no further fundraisings IMO. Completely disagree that this is a terrible deal. I also like SFR’s North American assets.
I work out the value of MTR’s stake in MOD to be £23m according to my maths! And royalties on top of this. Not sure where you are getting your numbers from? Higher than the current market cap... also good read across for KML. This must be worth a lot more post the Sandfire deal. Then we have the investment portfolio of gold stocks, etc. which has value.
We should see the Molyhil DFS any day now. It doesn't take that long to finish a DFS. The share price should start to recover post announcement. The share price has suffered because of delay with this work.
Yes. I assumed USD350/mtu fixed price for life of mine. 15 year mine life. Same capex as Molyhil and similar production rate. So nothing too creative. We should be at the higher end of the NPV scale (8% discount rate).
I ran a back of the envelope NPV model for Pilot Mountain assuming 20,000t of mineable reserves. I can comfortably get to a NPV in the range of USD100m to USD150m. This is my best guess of what we will see when Pilot Mountain numbers come out. When announced I expect the share price to trade back up to 4p in relatively short order.
Molyhil DFS is annoyingly late. But I expect it will show up shortly.
Fundamentals will drive the THR share price upwards.
Scoping study on Pilot Mountain scoping study and Molyhil DFS are on their way imminently. THR looking to do a deal with a strategic investor. This share price is about to re-rate. Major news on the way. :)
A RNS this morning. I didn’t expect to see scoping study on Pilot Mountain so soon. This should be good news as it is their largest project. Molyhil DFS competed ‘shortly’. Also, sounds like a some sort of deal with Metal Tiger could be on the cards.
Tungsten prices look set to strengthen over the coming months....
GLOBAL TUNGSTEN WRAP: Chinese environmental inspections boost APT market sentiment; tight concs supply persists
The continuous tight supply in the APT market over the past four months will become more severe going forward owing to supply disruptions after the environmental inspection team arrived in Jiangxi province, a major tungsten production hub, 10 days ago, sources said.
APT prices in Europe continue to be supported by the combination of environmental inspections and tight availability of concentrates in China, market participants said.
“The new round of inspections is creating a shock in the market in China. There is a scarcity of APT in Europe, the US and China,” the trader added.
Environmental inspections in Ganzhou province are reported to have identified river pollution, resulting in limited tungsten output being enforced in the region.
Seems very excited about Bonya. Wants to drill Bonya asap to prove up more indicated resources to boost Molyhil mine life. Been talking to the Koreans who are very interested in the moly which has had a good price run recently. Also more drilling on Pilot Mountain this year.
Fundamentals will only get better. Still waiting for Molyhil DFS, but clearly on the way.