Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
MTR have made it pretty clear IMV they won't accept another placing unless there is a dramatic rise in the SP beforehand. Thor despite all the talk of great assets has virtually no cash now. So a disposal is surely on the cards. The Spring Hill royalty first if possible, if not - then a chunk or all of pilot mountain or Molyhill once the extended resource is issued
https://www.lse.co.uk/rns/ORM/proposed-disposal-uwvyp2hd9a3j6u9.html
All holders should read this. Another Tungsten junior gone - (or sold out) - along with Wolf Minerals earlier.
Seems pretty clear Johnson (and maybe others) has bought more here after dumping his ROCK shares. He'll be dumping here on any decent rise - so watch out. News due i have down as - - Kapunda gold assays, Bonya assays and resource upgrade, Spring Hill gold royalty sale, Pilbara gold assays.
£19m mc with a project NPV of £45m @ $ 300 mtu . ? Today its around $ 225 mtu
0.2p on the way here
Well now thats out the way , they can start planning the next one
https://youtu.be/vhyBmgY7aXQ
Kapunda gold. See above vid . The 14 gold assayed holes have already been mentioned but its not enough for a resource. They are reassaying the others . The 90m at 3.0g has also been mentioned by Billing. It is recoverable by ISR but they dont yet know how much therefore they cant yet post an ISR recoverable resource. The recent Kapunda driling and test work is also looking and testing for gold. Copper needs a low grade to aid insitu recovery therefore the gold grade quoted in the 14 holes may be irrelevant in so far as they can recovered. We have to wait on the test work .FWIW Billing says he expects more then a few 10,0000 ounces
Dave Thomas out. Thats good not just because of the history of what has gone on with the BOD but also Billings is losing an ally. Another BoD appointee aligned with MTR ( amd us) would be enough for the BoD to give a vote of no confidence in Billing
A 6m buy late yesterday after that RNS. Thought it contained excellent results and some additional info yet to come that could be even better. I agree its just short term . Nothing has changed. . Unless theres a leak Billings is about to go. ( ha ha )
Silver light.
CEO has failed to secure funding for the flagship project Molyhill despite a long cash runway of up to 18 months. Price of Tungsten had tanked in the mean time and they did a massively discounted placing to keep the lights on. Also they failed to attract Third party interest in the other 2 projects which are probably more exciting. Also done nothing with the gold prospects acquired in March 2019. Confidence in the management is shattered.
Or to put another way...
Despite our CEO's assurance s and confidence 7 years OP would be enough to get it over the line it wasn't. So now we need 10 years and what we have now we can say with confidence doesnt get us over the line either.
Johnson is nothing more than a gambler who got lucky big time ... Once. ! He made significant recent investments in THR, SRO , ECR, ROCK , LION , ARK and must be sitting on huge losses. So much so hes had to go back to work. That said hes got his own personal situation to manage like all of us and its all too easy to jump to quick conclusions.
Thats to release interim results. Q3 numbers should be out now unless they decide not to
Thor mining plc appear to have stopped Twitter ing now. Taken with Ken s comments . MTR comments ant the silence from Thors long term holders who have in the past been very vocal promoting Thor i think its fair to say an effort will be made to effect a change at the top. Mick will have his supporters on the Board though.
The answer for Thor has to be whatever will rescue the SP in the short term before further fund raisings are required, because without an asset sale , MH funding agreement or new exciting blue sky gold assets this downtrend is likely to continue.
I dont know the answer which is why Billing needs a serious grilling at the AGM to find out the exact state of play rather than his continual spin of over promising and under delivering
I hope disgruntled holders find the time to attend.
https://www.argusmedia.com/en/news/1998407-tungsten-2019-demand-to-fall-may-improve-in-2020