Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
A good interview with Segun here:
http://www.kereport.com/2021/10/08/thor-explorations-commercial-production-achieved-at-segilola-with-an-upcoming-maiden-resource-at-douta/
Hi GB,
The listing on AIM has been a disappointment thus far. Perhaps there just isn't a sufficient free float to attract investors who would be scared off by the illiquid market.
Some of the trading in Canada is puzzling including 1.5m sold off the other day.
" .. new ore discoveries at truckable distance and open pit around segilola to exploit, and a DFS to release from the outstanding ore resource found in the gigantic lode at Douta in Senegal !"
Yes, a new discovery surrounding Segilola is needed to extend LOM but we will have to wait 2-3 months for the 4000m drill campaign to be completed. The MRE for Douta is due any day.
In the meantime a cash tsunami is underway at Segilola.
Q. " what else can the market want or need? "
A. High grade! Something akin to Filo's hot strike at Drillhole FSDH041. Anyway, dare to dream. As we know the system at Cascabel is fertile with several porphyry targets. Let's hope TAM produces a game changer.
No one doubts there is a LOT of gold & copper at Cascabel. It's just a matter of the right combination of grade and metals prices. Perhaps we are going to get lucky between now and Christmas.
I wonder if Nick Mather dragged the chain on further exploration at Cascabel to spite Cornerstone. In any case, it's an all action scenario now!
It's worth looking at Slide 9 in this deck https://thorexpl.com/site/assets/files/2464/thorexpl_corporate_june_rs_2021.pdf
Since that slide 2021 production is now estimated at ~30,000oz (AISC $1000?) & 105,000 in 2022 ($800). I like that there is a 4000m drill program around Segilola to find more low cost ore. We know there is considerable potential for high grade ore in the bottom of the Segilola pit. The market wants to see mine life extended out to 10 years. Hopefully we'll see promise of that by Christmas.
Debt (AFC US$54m & EPC contractor USD$3m) repayments expected to commence in March 2022 and conclude in March 2025. There is also a US$21m streaming deal where 10.27% of gold production goes to AFC until $47.25m is paid to AFC.
It seems that the intention is to start paying dividends from the 6 months to 30 June, 2023 and still have capacity to fund a mine at Douta. Hopefully AFC offers more favourable terms for that financing package.
This name is so under the radar!
MD Segun Lawson is committed and has skin in the game. I'm confident we will all do well.
Good morning ISA-I.
44m 28c warrants expired yesterday altho expect at least ~50% to be exercised.
It's worth looking at the streaming deal with AFC & the royalty owned by VOX if you want to number crunch in more detail. The FCF that Segilola is going to generate is amazing.
Have a look at Bassari (suspended) BSR on ASX. It owns the Makabingui deposit, next door to Douta.
Join some dots ......
Do you post at CEO.Ca?
THX has a 5 year tax holiday at Segilola.
Excellent results announced today for Makosa North following up on assays for holes at Makosa Bridge released Monday.
https://www.rns-pdf.londonstockexchange.com/rns/3674I_1-2021-8-11.pdf
Douta will be Thor's 2nd mine. DFS 2022, contruction 2023, in production 2024.
Another good interview with Segun.
http://www.kereport.com/2021/08/03/thor-explorations-the-first-gold-pour-at-the-segilola-gold-project-and-exploration-work-at-both-segilola-and-the-douta-project/
Great Crux Investor interview with Segun Lawson.
Very promising outlook for additional reserves at Segilola and Segun is very optimistic about Douta in Senegal. He seems to be suggesting a second mine there in a couple of years.
https://www.youtube.com/watch?v=e6MJbxrq8NM
Apologies if this has been posted previously.
I'm a longsuffering shareholder of both Solgold & Cornerstone.
Six months left to wait for BHP & /or Newcrest to make a bid.
https://www.mining.com/web/ecuador-mining-sector-needs-clear-regulations-to-attract-investment-industry-group-says/
Crazy cheap!
https://www.mining.com/web/thor-explorations-hits-nigerias-first-commercial-gold-output/
Thanks for that info.
234,598 traded t 1.65p. I hope that's me.
Funds reqd for Aus gold stocks being smashed as a result of falling GP and end of financial year tax loss selling. CRAZY value here!
That would suit me just fine.
I'm the seller of 1m at 1.65p. Does it show on the offer in the market? I'm in Aus and in the dark, in more ways than one! I have no idea how the MMs run the mkt.
Anyway, there 1m shares for sale at 1.65p for anyone interested in a bit of volume.
ATB,
T
Predators circling? Warren Irwin seemed to be suggesting that with this comment yesterday:
"Ecuador is open for business (for now). Copper is rocking, SolGold is a bit of a sitting duck. I think BHP and Newcrest would be easy to knock off and for an aggressive acquirer to muscle them out. We'll see what happens, will be fun to watch. Pressure builds everyday as copper moves higher."
Let's have a bidding war!
"The full order is left with the MM to fill as and when, but with a firm limit price. That is why MMs sometimes have to 'manipulate' the price as some might say on here, to pick up all the stock they want piecemeal until the order is filled."
Is this for the main board or some quirk of AIM? Sounds odd for a mature mkt like LSE.
I wonder if Hole 9 (or subsequent hole/s)) at TAM have turned up some high grade Cu.
The RNS was suggestive of something good, especially the decision to add more rigs to the 3 already spinning on site.
An economic deposit at surface with a high grade kicker beneath would give impetus to Cascabel project economics.
The majors might also be thinking that the "window of opportunity" is open in Ecuador with the current govt. regime and so better to make haste with M & A, project plans, approval, financing etc.
There's enough in the high grade Alpala core to justify a mine at current Cu & Au prices and for BHP, Newmont etc to buy SOLG at 2x current SP.
BTW, that would value Cornerstone somewhere around CAD15!
Have a look at Challenger Exploration - CEL on ASX.
Although the main project is at Hualilan in Argentina there is a 2nd project in Ecuador contiguous with Cangrejos - 17moz Au at 0.6g/t. MD Kris Knauer believes Colorado V/El Guayabo could well be the other half of C. Drilling to commence next month. Many excellent videos on the website.