Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Good idea GK. I also just topped up. Bought a few shares at 2.34p. You know the old saying, "buy when there is blood on the streets", "buy when there is capitulation". Feels like the market has given up ie. time to BUY!
Completely agree. No way MTR or Directors are selling. It can only be spooked investors who can’t stomach volatility or warrant holders. I thought the latter were largely finished. Suggest we hang tight simply because what’s the downside at these levels considering the assets, no debt, funded until 2019, and many good news releases on the way..,
Share price should pick up next week with the One to One conference. You can buy in ahead of the presentation if you believe in the uptick. Molyhill news just round the corner so don't see the point of selling today, especially if like most of us you are currently in the red. These small cap miners are volatile little buggers and you just have to stomach the volatility. I once owned a share that I bought at 2.00, it went down to 0.50 and then up to 12.00! I felt awful at 0.50, but very happy when I offloaded at 10.00....
Mick mentioned on the interview that there were 2 interested parties looking at financing Molyhill. A deal with one of these parties after the new DFS is released (offtake finance / JV deal?),which raises money for THR and allows mine construction will be a major development for THR.
A good interview with Proactive this morning. Key takeaways: - Mick thinks Thor is highly undervalued based on the value of the underlying projects - Molyhill updated DFS due end March, or possibly one or two weeks later - Molyhill updated DFS will help potential third party financiers of Molyhill. Mick Billings is travelling to Korea and Japan within the next month to meet with potential financing partners for Molyhill - Pilot Mountain scoping study is progressing. This is the project with the largest resource and appears to be their flagship project - Kapunda project progressing with permitting. Resource size much higher than Mick's expectations. Grade of copper is technically robust for an ISR copper project - Thor fully funded for 2018 Mick presenting in London at One-to-One conference on March 22. A good update.
The problem with this stock is that it is full of day traders and market makers trying to make a quick buck. THR is absolutely right to go out and get equity research coverage and find proper funds to buy shares of THR. What we need are consistent buyers of THR stock who are long term holders and will play this for the 10p+ upside. Pilot Mountain shaping up to be a fantastic project and 3x the size of Molyhill + copper and silver credits so lower cost. Tungsten price up 45% since June 30, 2017. Kapunda, US Lithium, etc. thrown in for free. What more can you ask for?
The wording from THR's press release today means: i) expect new equity research on THR with a very high target price ii) expect M&A, with THR considering a sale, joint venture or offtake finance deals with third parties Pilot Mountain worth US$100m (probably), Molyhill worth US$50m, Kapunda worth US$70m (probably). Total M&A value US$200m+. THR market cap US$20m. Even if we assume only 50% NPV achieved, still 5x upside from current share price of 3p. I plan to take profit at 10p. Rock and roll!!!! "We are keen to further communicate our story to a diverse audience including institutional investors and will be revising our marketing approach to achieve this including website enhancement and the provision of institutional research reporting covering the company." "Of particular importance is the continuing engagement with third parties keen to consider strategically significant tungsten and copper opportunities. Through sale, joint venture and offtake agreements, companies such as Thor can revolutionise their business model and secure greater market recognition and a valuation that reflects the inherent value of their business. That is now our absolute focus at Thor Mining."
The tungsten APT price has increased 45% (US$220/mtu to US$319/mtu) since June 30, 2017. Molyhill has a NPV of A$67m (US$52m) based on old NPV. Pilot Mountain has 3x the amount of contained tungsten (32,720 tonnes) vs. Molyhill (10,200 tonnes) which can be mined at LOWER cost which means a much higher NPV.
From the Wolf Minerals press release today re. tungsten market. "Subsequent to period end, the APT price has risen further to US$319 per mtu. The rise in the APT price during the period has been attributed to a combination of tight concentrate supply and increased buying interest in China. The Company considers that further price rises over the next three to six months will largely depend on the extent of Chinese production capacity permanently removed from the market following the enforcement of higher environmental standards. End user markets remain positive, particularly the United States and Russia where oil and gas demand for tungsten carbide continues to strengthen."
Thor Mining (LN: THR) has kicked off a scoping study at its Pilot Mountain tungsten project in Nevada, US. Executive Chairman Mick Billing said that study would be carried out in conjunction with the filing of various regulatory and environmental reports necessary to maintain the project's momentum. The scoping study will use the existing resource (indicated and inferred) base at Pilot Mountain, which consists of 32,720 tonnes of contained tungsten at an average grade of 0.28%. The company also said in an update that it was commissioning the second stage of metallurgical test work to prefeasibility standards. "Previous test work has demonstrated successful production of a saleable tungsten concentrate; however, the second stage work, directed by internationally recognised tungsten metallurgical consultants BOMENCO, is aimed at improving upon this and also at producing a robust process flowsheet along with credible design parameters", Billing said.
Given the lack of liquidity, demise of Beaufort Securities (the prolific warrant seller), and the expected stream of news flow coming this month (ie. Molyhill), THR shares should trade up between now and month end. Investors normally buy in advance of expected news.
We’ve all seen manipulation of THR’s share price over the last few weeks. The best example was the ‘forced selling’ on the day of the Kapunda announcement. Let’s see if the market makers in THR behave themselves going forwards. Many of these ‘pump and dump’ schemes often involve multiple interested parties. It’s pleasing to see the regulator protecting the interests of the general public.
Beaufort Securities declared insolvent this morning. This was apparently the firm running a large short position on Thor. Now PwC have taken over they will be forced to close out their short positions. Market makers at other firms who are short THR likely to close out their shorts asap to cover their own backs.