Member Info for Schmidt1

Financial statements Page 9

Hello everyone,

the Q2 numbers were convincing.

In contrast to Q1, the balance sheet has improved significantly.

Finally, almost 2000 ounces more were sold than poured.

FCF was around USD 25 million in Q2 and that's really strong...

By the way, Thor hedged 2000 ounces per month at $2175. However, this is only around 25 percent of production and only until the end of 2024.

Reasonable for me. I have yet to see a company reduce its forecast but also reduce its AISC forecast at the same time....

In Q3 we had a rockfall. The result was 3 weeks of mill production with lower gold contents. Despite everything, around 50,000 ounces of gold are expected to be poured into H2. And in order to achieve this, at least 22,500 ounces must be poured in Q3 despite the incident, otherwise this goal cannot be achieved...

I also look forward to the Segilola drill results in September...

Then Douta's PFS in Q4... something is going on.

We sold 41000 ounces in H1 and achieved such results. Think about it if the company manages to sell 48,500 ounces in H2 and at even higher gold prices... If the life of mine can then be extended, the price simply has to adapt to the value.

I think a market capitalization of USD 500 million is quite possible...

Greetings

Hello everyone,

the Q2 numbers were convincing.

In contrast to Q1, the balance sheet has improved significantly.

Finally, almost 2000 ounces more were sold than poured.

FCF was around USD 25 million in Q2 and that's really strong...

By the way, Thor hedged 2000 ounces per month at $2175. However, this is only around 25 percent of production and only until the end of 2024.

Reasonable for me. I have yet to see a company reduce its forecast but also reduce its AISC forecast at the same time....

In Q3 we had a rockfall. The result was 3 weeks of mill production with lower gold contents. Despite everything, around 50,000 ounces of gold are expected to be poured into H2. And in order to achieve this, at least 22,500 ounces must be poured in Q3 despite the incident, otherwise this goal cannot be achieved...

I also look forward to the Segilola drill results in September...

Then Douta's PFS in Q4... something is going on.

We sold 41000 ounces in H1 and achieved such results. Think about it if the company manages to sell 48,500 ounces in H2 and at even higher gold prices... If the life of mine can then be extended, the price simply has to adapt to the value.

I think a market capitalization of USD 500 million is quite possible...

Greetings

We have a relatively large and aggressive seller on the TSX today...

He has already sold over 600,000 shares...

he sells in every BID.

Starts at $0.24 CAD Now the entire BID is served on the 0.23.

Strange just when THX wanted to move higher....

All statements currently are pure speculation...

I don't like these statements that we currently produce 2 million FCF per week. We just don't know. We will only know with the results...

And in Q1 we didn't produce 2 million FCF....

and I assume that we didn't do this in Q2 either....

I don't want to say anything bad here, but we just have to wait and please don't praise anything to heaven when you're still on earth...

I'm sorry but I've been disappointed too many times in the past and I've heard these comments on the boards so many times...

And the biggest pushers unfortunately became the biggest bashers...

I hope the best for us...

Best regards

Personally, I invest primarily in gold companies on the TSX and TSX venture. I would imagine if the company traded exclusively on the TSX and not on the TSX venture and in London, then the valuation would be higher... The volume here is ridiculous too... I can only hope that this will change with good numbers... I would also be happy if the company tried to list on the TSX but I'm not sure if it meets all the criteria for that...

If you look at the company's valuation compared to other gold companies, the market currently believes that THX will not be able to meet its forecasts. So the potential here is more upside than downside. It's still annoying if we're treading water here and the other companies continue to rise.

The average in Q4/23 was $1342... And this will definitely not decrease in 2024... If THX meets its forecast they will be well below average.... Greetings

Https://www.google.com/amp/s/www.etftrends.com/gold-silver-investing-channel/rising-gold-prices-add-upside-miners/amp/

I understand you....

For myself I paid a lot of empty money with Superior Gold and Cerrado Gold. I don't want to make these mistakes again and I just hope that our CEO delivers.

However, it is currently too early to judge.

However, you should be careful and it is more than sensible to have a critical eye.

Especially in this industry...

To be honest, I don't know why we're having a discussion about the AISC here.

It would simply be important that THX meets this given forecast at the end of the year.

Of course, management has influence on the AISC, but how high it is cannot be determined so easily.

A good example of this is Superior Gold. I lost a lot of money with this stock because the CEO promised a lot but didn't deliver on anything. The mine had real potential but the management couldn't implement it. When Superior Gold was taken over by Catalyst mining, we saw the progress. Production has increased and costs have been reduced from over 3000AUD to 2300AUD.

Another example is the Mercedes mine in Mexico. This was operated by three different companies. None of them have brought the costs under control. So there are always many factors that play a role.

I can't say whether Segiola would be better or worse with different management. I've never been there before and took a close look at the mine.

Sure, they have an open pit mine with high gold grades but that's only part of the whole...

The fact is that their AISC is in the lower range. Many mines are significantly more expensive.

Here are a few examples from my head: Equinox Gold, Jaguar mining, mandalay resources, aris mining, resolute mining. I'm not sure but I think Barrick and Newmont are also higher...

Greetings

Let's say they sold about 20K ounces in Q2.

After contributing 10% to the Gold Stream, they would have generated approximately $43 million in revenue.

They used 8 million of that to repay the loan and probably also a little for accounts payable.

Total liabilities at the end of Q1 were USD 125 million. Through payments to the Gold Stream and debt repayment, these would then have to fall to around USD 113 million...

That would be a step in the right direction and would also show investors that money is being made here.

If we still have $5 million in the till at the end of Q2, we could consider this quarter to be quite successful...

However, it is questionable whether this would be enough for a price jump...

Greetings

You should also pay attention to the repayment for the Gold Stream.

10% of current gold production will be used for repayment.

For this reason, sales in Q1 were only USD 33 million, although 17,500 ounces were sold at a price of USD 2,040.

Greetings

This would require pouring 55K ounces of H2.

49K from production and 6K from the CIL.

Ambitious but not impossible...

In the Crux interview, our CEO SL explains that the 95,000K ounces include the 11,000 ounces from the CIL.

There is currently still a possibility that THX can still achieve its production goals :-)

Best regards

I have been watching the price on the TSX and the buyers and sellers for months.

Scotia is particularly strange.

They always buy in the 0.25 CAD - 0.26 CAD range and sell in the 0.26 CAD - 0.27 CAD range.

The order size is usually around 500,000 shares.

this means the course is practically trapped...

Hello TD73,

I had the same experience as you...

I have been investing since the beginning of the year and was very relaxed about this investment.

I've known this forum for about a month and I've also been a silent reader.

Unfortunately, after the production figures, I now had doubts and I have to eliminate them otherwise I can no longer sleep peacefully.

I also see the train passing me, because gold mines could now be on the verge of a brilliant rally and I would like to be there.

I see the downside potential here as really limited given the current market cap and gold price.

However, the strong Q2 financial results I was hoping for will probably not meet my expectations and I suspect they will unfortunately not attract potential buyers into the market...

Nevertheless, I still believe in a strong second half of the year and the enormous potential that exists here.

Best regards

Stefan Schmidt

Hello TD73,

Thanks for your answer to the question about low production costs in Q1.

For me it's still not logical to understand.

A mining company has high fixed costs every month.

Especially employees and energy costs etc.

Therefore this number remains opaque to me...

Best regards

Hey bigbite,

thank you for your look at the past..

Of course, I also looked into it and knew why 2023 was a difficult year.

Honestly, I'm surprised how THX managed to do all this with such low revenue in the last two quarters.

And yes, it is important that we ask ourselves objective, critical questions.

This is the only way we can move forward here.

After all, I also wrote positive things but there is always a reason why the share price is currently where it is.

But I also believe that it will be significantly higher at the end of 2024 otherwise I would not have invested in this company.

I have another question about Q1 that I hope someone can answer:

In Q1, the same amount of ore was mined compared to the other quarters, yet the cost of mining was less than $5 million.

In the previous quarters the costs were around 20 million.

I have never seen such a difference in the figures of a mining company.

That's why the low AISC but it doesn't make sense to me.

Does anyone have an explanation for this?

Best regards

Has anyone ever asked themselves how one can report AISC of 632 USD/ounce in Q1 but net debt only falls by 1.6 million USD?

What did you spend the money on then?

non-sustaining? but what?

Well, these are the questions you have to ask yourself and that's why the course is where it is...