Member Info for TO73

Congratulations one and all.

To the Thor board and management: A job very well done and I look forward to even better things this year.

Yesterday's presentation was well thought out and delivered well. The updated mine life and Douta DFS will take Thor to an even higher height share price wise.

Wishing the company higher heights and greater glories.

I do not know whether you recollect but I made that point back then - adverse things happen in production. Guidance should include contingency. Why? To avoid under-delivering. It is better to do better than expected than disappoint. I am glad you agree with me.

As I said in an earlier post - the current debt level is not why people are holding back at this point - not since the beginning of the year.

Re: cash on hand. This is great as well. The financial statements will confirm that. An updated Segilola life-of-mine, and a detailed PFS/DFS should be good enough catalysts for most people. I expect a soaring of Thor's share price in 2025 all things being equal.

It is great AISC has been significantly reduced. I applaud it wholeheartedly. However, 85koz is a far cry from an initial guidance of 95 -100koz. It gives a sense of figures being fiddled. I am not saying that is what is happening but I would be dishonest if that did not occur to me to be the case. I will stay on the sidelines for a bit longer.

Rooting enthusiastically for Thor. It has a lot of potential.

Management needs to ease off over-estimating the amount of gold that will be produced. The share price always takes a hit when they fall short. I estimated 77Koz - 85Koz for the year based on the quality of stock piles and production levels. Looks like I was right. It is one of the reasons I held off jumping back in as I expected this to happen. 90koz still looks like a stretch too. I am hopeful with time, management will get the balance right.

Robdog67

Hopefully, you are not speaking for Thor management.

While gold mining will always have some environmental impact, it is possible to significantly reduce this through sustainable practices, advanced technologies, and responsible management. Adopting environmentally conscious methods helps protect ecosystems, reduces pollution, and ensures the long-term viability of mining operations. I have a feeling the company knows this. I hope they will consider getting certifications like the International Cyanide Management Code, Fairmined Standard, or IRMA (Initiative for Responsible Mining Assurance).

However, if you do speak for the company, they may just get run out.

Molatovkud,

That is NOT going to happen. As long as things are done by the book, Thor will be just fine.

"Looks like someone wanted to create some mischief to get in at a low price knowing that the debt is quickly heading towards zero and there is going to be increased and substantial cash flow for Thor"

Come on now... There are people with genuine concerns. How is that so hard to understand?

That person must be well connected to be in cahoots with the Osun state government :D Going into all that trouble not knowing for sure whether it would have any effect on the share price? I do not think that is likely at all. Surely, anyone with such connections has easier and surer ways of making money :D

I would take it at face value - Individuals want money and so does the government. If the state wanted to raise more money (as they always do), they would be looking hard at the companies making money in their state. They may still go to the state assembly and pass a law to get more money in the guise of remediation work on the environment. It is a possibility. There is also the Local government to prepare for as well. The higher the price of gold goes, the harder they will all be looking at SROL. This is why I hope Thor is well-prepared. On the other hand, that may be the last we hear of them.

I have said enough.

Let us hope for the best.

Let me just say I hope it works out :) No point crying over spilt milk. I wish them well.

I would have paid on Day 29 and only after vetting the liabilities thoroughly. They may have found SROL's soft spot. Fingers crossed for SROL though.

Genghis,

Anyone familiar with Nigeria's business environment understands how things typically work. :)

I hope Thor Management approaches this issue with full effort and attention. The way they handle it will set the tone for future dealings. It’s crucial that they remain courteous to the opposition and address the situation with diplomacy. Stand your ground, but do so respectfully. How this is managed can either win over a potential ally or create an adversary waiting for any misstep to take advantage of.

The Federal Government granted the licenses, and the state government is merely making noise at this point. They've already taken their most significant action by involving the courts. It's important to note that the state government belongs to the opposition party, so they're likely to continue their efforts, if only to create disruption. It would be helpful if management could connect with a prominent figure from the PDP in the state to help defuse the situation.

SROL has been doing some community work, as seen on their website. It’s essential to engage with community leaders to ensure they are aligned with the company, particularly on environmental concerns. The tax issue is relatively minor, but environmental degradation is a serious matter.

As long as Thor Expl can demonstrate that they've operated transparently and provide evidence to refute any claims that the state's communications have been ignored or dismissed, they should be in a strong position. It’s also crucial to review the actions of third-party contractors to ensure there are no lapses. While the tax issues may be small, environmental responsibility is critical. Additionally, with illegal mining in the region, it can be difficult to determine who is accountable for specific actions. Hopefully, there's ample evidence showing that ethical standards are embedded in the company’s policies and procedures, and that these have been consistently followed.

It would be entirely appropriate to issue a stern warning to the third-party contractors, especially since the state government has identified them as the culprits. Thor should consider threatening to revoke their contracts if there are no tangible improvements. Ideally, these contractors were hired with a proper level of independence.

No, it is not a big issue. I would only be bothered if that came from the FG. Reputational damage should be repaired though. I would place some "ads" in local stations showcasing how the company helps the community and minds the environment... but that is just me. I am sure the company knows how to handle the situation.

M1rob, Once they sort out the Douta DFS and hopefully provide an updated mine plan for Segilola, the price should go back up....Hopefully...

My suggestion is that they do not give in quickly or else they will come back more often. Fight it. Use corporate lawyers, get an activist lawyer that will make a stink till the Federal Minister in charge gets to know about it, and ask what is going on.

Of course, they will come for you. Look at the price of gold!

Rooting for the company. Thor is on my watchlist, though as I promised I closed my entire position. I did not do that today. I did it when liquidity was really good.

I am looking for a buying opportunity and hopefully, I will jump back in soon. Opportunity cost is a big issue for me else I would have held on.

I am rooting for the company. Go Thor Expl!

Hey, time is a beautiful thing. It will tell ;)

Ha ha ha.

Whatever gave you that idea 😂 No, I am not on an emotional rollercoaster. If I see something good, of course, I will acknowledge it and praise it. Lowering the guidance for the year is sensible and so investors can sort of trust it. Lowering AISC guidance was even better That is a sign of cost-cutting measures being put in place. Why would I not acknowledge things I know will do the share price some good? I still own a good chunk of shares and if I continue to see improvements like this, I am more likely to hold on to them.

"The company revised its 2024 production guidance to 90,000 ounces of gold, with a lower AISC guidance of $900 to $1,000 per ounce."

I sold some 30,000 shares at 17p. I don't trust prices won't tumble after the earnings report.