See the Croydon project of Kairos which demonstrates the panning method used to discover new gold areas at that specific location. Throughout the Pilbara potential for large alluvial resources exists where bulk sampling after panning and metal detecting is the way to ascertain gold resources -not drilling. See Novo Resources and all the press on the Egina lag gravels. A company trading about $2.70 a share with about a $500 million market cap last time I looked.
The Panorama tenement is showing colours in the pan -that is significant -more significant than getting a few PPB in soil samples . The gold is coming from somewhere and I expect further work will show up nuggets like GGP and hopefully a new gold discovery in the mafics and/or basalts. Most likely structural but we have Mt Roe Basalt as well - the same geological formations that hosted the exciting new gold discoveries by Novo at Karratha.
In the Pilbara there has been a gold rush in conglomerate gold settings and also in structural settings both of which have potential on the Thor tenement at Panorama. Firstly GGP have delineated a 6 km gold discovery which we abut with the Pilbara Goldfields (Thor) tenement. This was outlined using simple metal detectors finding a lot of nuggets -followed up with soil sampling and magnetics. Drilling will presumably follow soon. See the GGP press . To the north FEL -ASX joint venture with MML-TSX they are commencing drilling -and another PGL- Thor tenement abuts.
The best geologist in the Pilbara is George Merhi who I arranged for Thor who has an impeccable track record with many companies. His latest work found a lot of gold for Kairos -- https://www.asx.com.au/asxpdf/20191028/pdf/449xy2sxps5zl0.pdf
Merhi is an expert in stream sediment sampling which is a highly effective exploration method -as well as metal detectors -to locate gold in the Pilbara. The best example of this is Novo Resources using metal detectors -a company with a market cap of $500 million backed by Sprott -Kirkland Lake and now Sumitomo.
The program carried out by George Merhi is just a preliminary helicopter assist for several days to do some streams and it has worked -they have proved the presence of gold on E46/1262.
Fellas it has taken me six months to get Billing to even acknowledge that Panorama and Karlawinda even exist -and now hopefully more serious work will be conducted at Panorama. Further results from GGP and FEL might assist put this excting new gold province on the map. Millennium have a big hungry CIP plant a short distance away at Nullagine and if resources can be proven in this belt of country the Canadians will have their cheque book out -the first cheque for Novo was for $56 million and counting-
The exploration method is sound -it is very inexpensive and the rewards can be significant. Stay tuned -
Vote out Billing - put Molyhill on ice and rebuild this shattered company with assets that have market appeal. Stop the senseless dissipation of funds on more drilling of projects that after several decades no one will touch with a barge pole.
Trojan You are way off - I have significant iron ore holdings and iron ore is a very profitable business too. As far as I am concerned in the present environment iron ore and gold are my principal focus. Notwithstanding we have several million tonnes of barite in the NT -a critical mineral now given the USA is dependent on China -we have rare earths in the NT another critical mineral and cobalt -lithium. But nothing apart from iron compares with gold at current prices . Thor is just a lifestyle company - Molyhill has been around since Adam was a boy yet people like you still believe the spin.
Aim1 I still hold some shares - but importantly I personally positioned Thor at both Panorama and Karlawinda -and I have big acreages in my private companies complementing Thor ground. Accordingly I am going to hold Thor management to account. What will you say if Thor ground next to CMM is a company maker ! If you are indeed suggesting organising a group then wouldn't it make sense you knew exactly what you wanted to do to make change. And if by then the Karlawinda ground is hot wouldn't it make sense to leverage that information. I have helicopter assist stream sediment work on my ground starting next week. What if I find lots of gold like CMM ! Go figure -
Problem is some of the major shareholders are moving to greener pastures and without their support change will be very difficult -why I dumped almost all my stock. The writing was on the wall when queried by ASX and a new capital raising was imminent. And I had people saying 'I am not worried" heaven forbid -- Notwithstanding stay tuned - the gold tenements are still there and Panorama and more particularly Karlawinda is hot territory. But all double Dutch to anyone who does not know the potential of Capricorn Metals.
The boys at Panther were investors in PGL and HML sold to Thor. Best of luck with Panther - We are outpacing Canada now and I sincerely suggest you look at stocks on ASX - those that have not already bolted.
Trojan The gold price is AUD$ 2300 oz or thereabouts and average AISC about $1200 oz -many top producers under $1000 oz so that equates to HUGE profits for the average Aussie gold miner. I suggest you refocus from the dog stocks on AIM and start doing some serious research -gold production is highly profitable in this country. AIM is toxic - very few genuine exploration - mining companies.
You obviously don't read the press - the best lithium mines in WA either closed -losing money or on care and maintenance - the best graphite mines losing money and about to be shuttered -the best cobalt mines shuttered - copper in the doldrums -read the latest predictions and you think persisting with tungsten and /or copper after constant failure over the last twenty years is still a good bet. It will all recover one day but common sense dictates to survive you change focus. As the great man said 'when the facts change I change my mind - what do you do Sir'. You are wailing about your losses and yet with Aussie gold stocks many -many multi baggers -and many about to run just as hard. I sold almost all my Thor stock weeks ago because management would not change focus but I damn well will buy back if a new CEO takes the reins and it stops flogging the poor old tungsten and copper horses. Get with it mate -huge opportunities in gold -
Hi Joe I am okay -82 in a couple of weeks and still stirring the possum. Hope you are well too.
Thor had /have the capability to secure a gold project -check out SPX - MEI - RXL - AAR and others I am on board -plus maybe fifty other multi baggers in Aussie gold. Its still tentative but many multi baggers -like Bellevue - Red 5 -
As you know I was involved in the listing of Cobra -hopefully Wudinna will bring home some bacon -
Thor has shot its bolt now - a long climb back but if everyone listens to me it can recover quickly if Panorama comes up trumps. A few bags of nuggets recovered with a metal detector as GGP have done and it is on the radar screen - a premium in the stock and like GGP some very basic exploration. Worry about drilling and scoping studies later -once the stock has some traction.
Now Karlawinda is most likely more exciting -I have 80 sq km only a few km from the new CMM gold mine being developed at Bibra. And guess what - I positioned Hamersley Metals -now Thor with three big EL's surrounding Capricorn. And Billing cant even issue an RNS ! Mate there is no need for expensive exploration programs at this stage -CMM another of the stocks I am on board has gone from 7c to 23 c today -a market cap of about $360 million. Then guess what I have Territory Prospecting one of our private companies there too and another of my private companies just picked up ground. This is a NEW gold province -with CMM headed up by Mark Clark who built Regis into a multi billion dollar company. He is not back at his desk out of retirement unless he figures CMM is another Regis. Collectively we have about 400 sq km within and surrounding CMM. Check me out on Twitter -all on there mate -we just have to get a young CEO driving Thor and believe me we can turn it around. Cheers and happy trading - PS: Check out Novo -Pilbara gold -a market cap of $540 million and thus far only metal detectors !! All the Canadians and European followers all over the press - and if we find gold at Panorama they will come knocking -like Kirkland did when it pumped $56 million into Novo. And now Sumitomo funding Novo - If I was the CEO of Thor I would have it firing in no time flat. We want someone with some fire in their belly that understands gold -and it is rocketing again tonight !
You could start by getting off the never ending tungsten band waggon and the copper projects which have a snowflakes chance in hell in this market and insist the company refocusses on gold. When CMM report shortly that will become even more obvious. The market has a hundred struggling tungsten plays out there -no one wants Moly Hill -end of story. Moly Hill has been promoted by all and sundry since Adam was a boy - we even held shares in Thor with RGM and Andrew Bell was on the board when Thor listed. Its been the same old spin for decades -long before Thor was even thought of - give it a rest - it will never happen. You want to rebuild Thor listen to me - gold is going ballistic and all you can talk about is Moly Hill.
You are divorced from reality as most investors still are in the UK. The Australian gold sector is in an emerging gold bull market with maybe 50 -100 juniors which have multi bagged - I could name ten of them I am board and right now I am accumulating MEI .
Thor have Panorama adjoining GGP which has a lot of potential -if you don't believe me check out Novo Resources with a $540 million market cap. That's Pilbara gold mate -not tungsten and copper. Then cast your eye over Capricorn Metals with a $390 million market cap. Thor have large exploration licences with laterites and schists adjacent which have the potential to emulate CMM.
Thor hopefully will have new management -Thor hopefully will change focus to gold - endless talk about tungsten and copper is counter productive. It will have its time but not now -we are in a bull market for gold and every Thor shareholder needs to raise their voice -as the major shareholders are doing because no one is going to put up with Billing and his spin any longer.
You could also ask Thor management why they have never RNS the company's March Fly uranium project in Hamersley Metals on a now granted tenement in the NT. March Fly has approximately 250,000 tonnes of very high grade uranium at 2200 ppm ( 0.22% U) with a target of 1 million tonnes of 0.22% U. Not very long ago everyone was getting excited about uranium.