Member Info for TheMoss

They are testing it to see if it is a going concern and with every justification.

I would agree with you Gunster. It can't even get simple things done like producing a confirmation statement and knocking up a set of accounts.

They are going to have to produce some accounts or Companies House will strick them off.

They have a Chartered Accountant on the management team so why no accounts?

The confirmation statement is simply a list of shareholders and company officers at a given point in time. It should be straightforward. The accounts are a little more complex and you need an accountant.

Is this message board really powerful enough to cause a significant rise or fall in the share price? I would have thought the current share price is due to the sound financial performance and the possibility of takeover interest.

Don't know how anyone could suggest this share is not risky.

The results are in and they are impressive considering the unfavourable operating environment. You would think there are some good expansion opportunities out there at the moment.

They have just rescheduled their loans effectively taking on extra debt. Their focus seems to be aimed at increasing the size of their operations rather than reducing the number of shares in issue. I can't see the sense of borrowing money to either pay a dividend or buy back shares. What is disappointing is the share price. I'm sure this will pan out OK.

Don't see what the problem is raising money for growth. What they have achieved out of self generated resources is commendable and it is good that they pay a dividend.

Do you really think one person expressing an opinion on here is going to have any affect on the share price? If you don't agree with his opinion isn't it more useful to articulate why? It's supposed to be a discussion board where people put forward arguments that people ponder to come up with better decisions. It's more like something Putin would come up with.

I don't know what the costs are but there seems to be a lot of gold. I have every confidence the management know what they are doing.

I like the idea of two mines. You don't want all your eggs in one basket.

Cash is king. There are plenty of gold miners with promising assets but without the cash to develop them. So building a cash mountain would put Thor in a good position. The biggest risk is a plummeting gold price and I can't see it.

It's not a big deal for me either way. I see the priority as confirming additional reserves at the present mine and getting the second mine into production. I'm not bothered if the returns come from dividends or capital growth

Jerseycrew - Let's hope you're right and I'm wrong.

They've just rescheduled the loan so I wouldn't think a dividend is on the cards. I'm more than happy with what they are doing with the money and I'm confident of capital growth. I can always sell a few if I need to. I have high hopes for this share. It seems to have a well laid out path to growth.

Imlom Yes that was the reason given for the initial £10m loan falling through but it was suddenly possible with the latest £1m loan. As for how much the mine is worth I'm not sure but the whole company is worth about £4m which is great to cover a £1m loan but leaves little space to guarantee anything else.

It's you and other that seem to want to control the agenda. If they see something they don't like accusations of ramping or deramping start to fly.
I can't see how you could deramp this. It's got a market cap of £4m. It's bombed out
I don't know the guy in charge and I couldn't pass an opinion on him. When the original funding package fell through there were people saying there were 6 or 7 lenders waiting to fill the gap
It didn't make sense then and it doesn't make sense now. Someone has loaned £1m at 8% secured against the mine so you would think their loan is safe. However they need £10m. Problem is
1 the mine has already been used as security so there is nothing to back the loan up
2 the lender will be putting on £10m while the market values the shareholders stake at £4m
3 the shareholder is looking for a much higher slice of any upside but the lender is taking most of the risk
You also have to be worried about accounts and confirmation statements not being filed. The confirmation statements give details of officers and shareholders. They should take a couple of hours to do and according to the website they have two Chartered Accountants knocking around. It doesn't affect how well they perform financially. It just gives an impression of an organisation in chaos. However it's your money and your decision. The only thing I find frustration is a refusal to engage in any discussion and a propensity to resort to accusations of ramping and deramping as soon as someone says something that doesn't suite your agenda. What's the point of having a discussion board?

Clever Thoughts - I don't know how honest the captain is but the story doesn't make sense.