Cash burn & the next raise22 Oct 2019 19:50
Last year Thor's outgoings were £1.7m . ( 700k corporate + £1m exploration ). So £500k will last about 4 months. As cash was due to run out in Dec it will take them now to end of April 2020. With a 2 month window ( as per this raise ) the next raise should be late February 2020. They are drilling Bonya + kapunda in this period so there will be drilling costs to pay. No mention of the acquired Gold assets but exploration costs could also be spent on this if HMWI + MTR have their way.
Billing has now said no Bonya resource until Jan 2020. Assuming that happen s ( !) and MH deal discussions dont enter any final phase until after this , there will only be a small window to complete a MH deal in February before another raise is needed. I maintain he wont give away a % of MH without confirmation of the Bonya deposit first.
My point being it is very easy to see the same scenario of speculation / shorting repeating itself in Jan/Feb next year as nothing will have materially changed. Every chance the next raise at an even lower price.
Big changes needed here and urgently else Investors end up with nothing.