Member Info for TO73

Yes. there is something called bad vibes. I am getting mega bad vibes from some of you. I do not make purchases based on social media posts but you can bet I would get rid of shares if I get a bad feeling. You better believe that.

I did not tell you to buy Thor shares. I never did. Go back and read. I made a sarcastic comment to harChris who kept saying I was being negative. So I told him to use his savings to buy more shares if he was not that sure and for him to leave me to my decision of choosing not to buy some more. I said anyone choosing to buy more Thor shares was beneficial to me though I was not going to.

I have not jumped because I believe(d) in the company. I believe issues can be fixed but it requires the right attitude. Also, I am making a huge loss right now if I sell. My average purchase price is high. I was not going to sell (it was very far from my mind) until I realised just now that it does not seem the company intends to change direction. But now I am being encouraged to, I will do so at the first convenient opportunity. Hopefully, the share price will climb a little in H2 in the unlikely event we get more gold than was provided for in the guidance.

You are angry I am questioning spending an average of $1.5m yearly on motor vehicles and office furniture :)

SL, is that you? I am not mad, honestly. I am having a good time. I like to make money but it is not that important to me :D

How in the world is pushing for efficient expenditure, more transparency and accountability and more reliable messaging become a bad thing? How is moderating expectations so that people are not bitterly disappointed and have a knee-jerk reaction a bad thing? How????? How is a push to maximise profit an adverse thing? Except you are benefitting from current expenditure, you would want profits to be maximised. That is what is logical.

No, I have not said that I know best.

When people find they do not have evidence to dispute facts, they start attacking the person of the truth teller. It is a classic move. Some of you have been behaving like employees and not like investors. You do not seem to have anything to lose.

I have made evidence-backed statements. Dispute them :)

For us to have an intelligent and fruitful discussion, you need to show me how my statements are wrong by providing evidence :)

The maximum amount of gold that can be produced between July 1, 2024, and December 31, 2024, is approximately 50,014.03 ounces.

Assumptions:

Ore grade: 3.14 g/tonne

Milling rate: 120 tonnes/hour, operating 24/7

Recovery rate: 94%

Gold Inventory Carryover (GIC): 1,500 ounces

The more I interact with some of you, the more I believe you are likely to be paid hands. At this rate, I am going to get out of this investment at the first opportunity available. I do not like the vibes I am getting. A company with evidence to allay concerns would not react this way. I sure hope you are not paid hands but real investors. Why do you need to be so defensive?

If you are confident I am wrong, what I am saying would not affect you at all. You are scared I am right is why it hits hard.

Even at that, I have still given a projection of 80koz to 87koz. Ignore it if you do not accept it. That is still good FCF though about half of that will be spent on various expenses leaving a net profit of about half of that cash. Any more should really be of no interest to you as I have been the one spearheading the idea of a special dividend. You have a lot more faith than I currently do. If I had more faith in how the money is currently being spent I would not mind 100% of the money being invested in future mine(s). I am deathly scared that a lot of that money will be frittered away through various leaks and unnecessary expenses. This is my concern and I have a right to express it :)

This has turned out to be a regrettable investment, honestly.

Wanting to be on the BoD for poer? I did not suggest being on the BoD. When I was asked whether that was what I was after, I said it is something I would consider. Being on the BoD means I will be able to push for more accountability, transparency, cost-cutting measures and more reliable messaging to the public. This is what I need the power to do. I would be lying if I said I did not want more control over my investment.

Again, why does that rile you up? Do you want to be on the BoD? Put yourself forward and stop attacking me :) It is baseless and amusing.

And that smart money "nonsense" is MY nonsense and my lesson. It affects you in no way. Those who will learn from it will learn from it. Why does it rile you? why did it touch a nerve?

"Some people just refuse to be great" is a well known joke :D Please get a sense of humour. It helps in tricky and unpleasant situations.

What that was is what my experience has been. People always attack me when I provide warnings. Down the line, they tend to see what I saw :) It has been the story of my life.

I was simply correcting his assumptions. he has assumed a far higher GIC than what SL said himself to be the case. I have also supplied the maximum capacity that SL himself said was possible. If I was not interested in his analysis, I would not have provided him with those parameters. You are behaving like the average human being. I do not blame you. You latch on to what you want to hear, rather than fact.

Calculate theoretical gold:

Ore grade: 3.14 g/tonne ( this is assumed from an average of H1. it is likely to be lower grade in H2 or else SL would have ben sure to mention it if otherwise)

Tonnage milled: 662,500 tonnes ( this is maximum capacity at the optimistic projection of the CEO. He said it can mill, not that it is milling)

Theoretical gold: 3.14 g/tonne * 662,500 tonnes = 2,080,250 grams

Convert grams to ounces:

There are approximately 31.1035 grams in one ounce of gold.

Theoretical gold in ounces: 2,080,250 grams / 31.1035 grams/ounce ≈ 66,878.13 ounces

3. Calculate recoverable gold:

Recovery rate: 94%

Recoverable gold: 66,878.13 ounces * 0.94 ≈ 62,895.47 ounces

4. Consider Gold Inventory Carryover (GIC):

GIC: 1,500 ounces (SL supplied this in an interview)

Since the GIC is less than the recoverable gold, it doesn't limit production.

Maximum Gold Production:

The maximum amount of gold that can be produced from 662,500 tonnes milled is approximately 62,895.47 ounces.

This is the best-case scenario based on what is currently on the ground :)

Harchris, thanks for making me laugh. I needed that :D

SL said GIC is to be maintained at 1,500oz. He also said the milling capacity is 150tonnes/hr. Assuming this plays out that way, the only uncertain factor is what the mining will actually produce. H1 was not as good as expected.

Since 2021, last year is the only year where gold recovered was more than mine plan projection. Even then, it did not meet guidance. Also recovery is currently 94%. Mine plan was 97%.

I have set my mind on between 80 and 87koz in H2. Any more will be welcome. I won't hold my breath though.

There is this tech company I really like. It has tremendous potential, truly immense. They offer a solution that hasn't been matched in the market. Despite being loss-making for the past five years, they've secured some small purchase orders and are in the running for many more significant ones. As their prospects improved, they sought funding from venture capital firms. But here's what is happening:

The funding is being held in escrow, only to be released once specific criteria are met.

One criterion requires them to be selected as the sole supplier to a top 10 OEM.

Another criterion demands they achieve a certain share price for 30 consecutive days, including the day the debentures are released from escrow. They were also given a time limit to meet these targets.

Even while the funds remain unreleased, they are earning 6.5% interest, with an option for the venture capital firms to convert the debentures into shares at a price 20% below the market rate at the time of conversion.

That's smart money at work!

It really isn't baffling when you come to understand the mindset of smart money.

There are various vehicles of investment. There are many companies and instruments which will give excellent returns in 6 to 1 2 months. All you have to do is look.

Smart money saw Thor's higher than average expenses , a short Segilola LOM and a delay in getting a PFS out of Douta and they said "No, thanks" or "Not yet"

I keep kicking myself for not waiting to see the Douta PFS before taking the plunge. My investment was based on "forward looking statements". Dumb. This is why when people refer to such statements, I feel a sense of irritation. If I had waited, I would have more than 3 times the money I have invested in Thor right now. This was a good lesson for me.

"I hope your investment goes well, as it means mine will be as well."

Too late. I sold NVIDIA stock to invest in Thor. So, you can imagine my pain.

Thor explorations, show me money, coolu my heart-e ee

Oga Segun, show me dividends, coolu our heart-e ee

Bonsue, Azikiwe, bonsue, ayo ayo.

PS: Sorry guys. Private Nigerian joke.