Member Info for TO73

I will disregard the statements that do not interest me. It’s too late for some of your retractions.

I have told the people that matter how much my percentage holding is. It is not any of your concern so I will not be caught in any d1ck-measuring contest,

You wrote, "The largest shareholder has no interest in cutting costs, increasing the share price, paying off debt quickly, or paying a dividend? Come on."

The largest shareholders are the general public, who own 59.9% of the company. If and when I am able to connect with them, we might be able to initiate changes. When you refer to the largest shareholder, are you implying the CEO? He owns 4.44% of the company, which is currently valued at $7.3 million. He could have made far more in 2022 when inventory was understated by about $12 million due to incorrect valuation, possibly by colluding with others and sharing the proceeds, not to mention his hefty salary. I am not suggesting he has done or is doing this, but if he inflates contracts, do you see how insignificant $7.3 million Canadian dollars is? It could all be a scheme, with the gold proceeds taken before any reach shareholders. I am not saying this is happening; I am just explaining why his 4.4% ownership is of no consequence.

I am not interested in you as a person. I do not know you, and now more than ever, I do not wish to. I am simply protecting my investment.

Regarding the signed financial statements for 2022 and 2021, this is one of the reasons I provided step-by-step instructions on how to verify if an auditor has signed off. Auditors do not use DocuSign without providing an opinion on the accounts.

And no, you have not previously acknowledged my right to express my concerns. You have collectively dismissed my concerns as "ridiculous," "illegitimate," "simple and laughable," along with various personal insults. As you can see, they are all like water off a duck's back.

You do not have answers. Do not pretend you do.

I have now got you LSE.co.uk.

I took a screenshot expecting the evidence to be deleted.

1. if my questions hold no merit, no one will pay attention to them. you have suggested my posts caused the share price to fall. meanwhile, there have been at least 7 of you attacking me, calling my questions "illegitimate", "ridiculous" "so simple and so laughable" in addition to advising me to see a psychologist (which i think is healthy and i do from time to time), saying i have a personality disorder, i am a robot amongst a host too many to detail.

so, you are effectively suggesting that investors are ignoring your own (according to you), "expert", "knowledgeble" and "accurate" posts and are making investment decisions solely because of my posts. it is a bit of a contradiction, don't you think?

2) i started posting around july 17. you are yet to explain the reason(s) the share price has declined since h2 last year down to 10p just in february.

3) i will not be investing a single penny more until i am satisfied management is implementing measurable cost cutting measures and messaging from now on is reliable and accurate. i will divest completely if i see no changes.

4) in case you missed my previous 6 so comments, if you continue to **** me off directly or indirectly, i will reply to you, no matter how much of my time or how long it takes.

5) if by being local, you mean i am a fellow nigerian, then yes. my ancestral hometown on my dad's side lies within 1 hour of the mine and i may or may not have eyes there. who is to know?

6) my questions have been constructive, giving management the opportunity to explain and allay concerns. in tead legitimate questions have been considered "negativity". very disappointing. i am supposed to just buy shares and not demand accountability especially as things are not making sense? i know this is commonly done in nigeria but i'd be damned if i let to go when it is an aim listed company and there are rules to be adhered to.

7) if thor did not want public scrutiny, it should not have listed.

For clarity:

"An internet troll is someone who intentionally makes inflammatory, rude, or upsetting statements online to provoke strong emotional responses in people or steer conversations off-topic"

From the evidence available since July 15, who are those who have been rude, attacking my person, or attempting to steer the conversations off the underlying problems which may be the cause Thor Explorations surprising low valuation? Who has been trying to take attention away from potential solutions/remedies, if implemented, may result in better fortune as regards share price?

Loudspeaker:

1) I was not asking for a debate.

2) Evidence suggests YOU are the troll. Just have a look-see. Switch to "Thread View"

Pacifico:

You wrote " I suggest no one replies to TO73 because that just begets a new raft of useless self important posts."

I have said the same things so many times, I have lost count. Do not talk to me or about me and I will not look in your direction. Do you understand why I write shorter messages, as it seems you keeping missing my posts?

Could you point out why you perceive me to be arrogant? I am arrogant because I am asking questions of a company I hold a significant number of shares in?

Which of my posts have angered you or are "arrogant"?

Let us assume you are right and I do have a personality disorder. You attribute the fall in share price to my posts. Could you explain the fall in share price feom H2 of last year ? Also, care to explain the fall to 10p in February? I started asking questions this month :)

I change strategy depending on who I am speaking to.

Those who have demonstrated they take the time to read my replies, I try to reply in one message, lengthy, if required. Those who have demonstrated otherwise get shorter succinct messages from me, hoping they process my points better that way.

I do not care either way. I adapt to either situation.

Harchris:

My approach: “I’ve noticed that the share price is lower than expected, despite what appears to be an excellent investment. What key details have I overlooked?”

Your approach: “I’m pleased to have identified this investment opportunity. Why haven’t more people recognised its outstanding potential?”

I have no idea what you have done and to think I am trying to trick you is amusing :) . You are not the only person who has been attacking me. Trust me that you are not specifically on my radar.

I think the issue for you now is that you are replying to posts in a thread I started. If you do not wish to participate in this thread, my suggestion is that you do not make replies to contributions on this thread. If you wish to continue to participate, then please continue... and may I ask, politely,

As a shareholder, the only tangible benefit I derive from Thor is its share price. I don’t receive a salary, company perks, or allowances—none of that. When the share price behaves unusually, it’s entirely reasonable for me to be concerned and seek to understand why some shareholders are selling, especially when there isn’t a significant influx of new investors.

My hope is that new investors buy the shares fully aware of any imperfections/issues (the ‘warts’), making informed choices. If that happens, we’re likely to see fewer people selling during adverse events, and no one can claim to have been misled.

I’d feel more at ease if investors purchased shares with expectations of 80,000 to 87,000 ounces, only to be pleasantly surprised by better actual results. However, if they buy anticipating 95,000 to 100,000 ounces and receive 87,000 to 90,000 ounces, it’s likely there will be a sell-off. We’ve been experiencing this trend throughout the second half of 2023 until now.

I’ve mentioned this repeatedly: I’d be content with gold production between 80,000 and 87,000 ounces. Right now, I’m closely monitoring the share price, hoping the company meets its guidance. Personally, I’m not bothered if they fall short; what concerns me is how missing targets might impact the share price.

The share price is currently down to 13.75p. This I think is a great opportunity for those who wish to buy the dip to do so. ***This is not financial advice. Please do your due diligence before making investment decisions.

HarChris,

"...yet the reality is that we’re just finishing another month of record supernormal profits".

Yes, let us hope and pray guidance is met.

Adw,

I'd rather not say anything about that for now. Thank you for asking though.

Just in case some wish to know:

Here are the steps to verify whether an audited financial statement has been signed off by the auditor:

Check the Auditor’s Report:

Look for the auditor’s report, which is typically included at the beginning or end of the financial statements. This report should clearly state the auditor’s opinion on the financial statements.

Look for Signatures:

The auditor’s report should be signed by the auditor or the audit firm. This signature indicates that the audit has been completed and the financial statements have been reviewed.

Verify the Date:

Ensure that the auditor’s report is dated. The date should be after the end of the financial year and before the publication of the financial statements. This confirms the timing of the audit.

Check for Auditor’s Details:

The report should include the name of the audit firm, the name of the lead auditor, and their registration number. This information helps verify the authenticity of the audit.

Review the Opinion Paragraph:

The opinion paragraph in the auditor’s report will state whether the financial statements present a true and fair view of the company’s financial position. Look for phrases like “in our opinion” or “we believe.”

Compare with Regulatory Requirements:

Ensure that the financial statements comply with the relevant regulatory requirements. For AIM-listed companies, this includes compliance with the AIM Rules for Companies.

Cross-Check with Company Announcements:

Check the company’s announcements or investor relations page for any statements regarding the audit. This can provide additional confirmation that the financial statements have been signed off.

Consult External Sources:

Use external sources like the London Stock Exchange (LSE) website or financial news websites to verify that the audited financial statements have been properly filed and signed off.

By following these steps, you can ensure that the audited financial statements have been properly signed off by the auditor.

Loudspeaker,

It’s quite amusing how you people can’t seem to hold a decent or interesting conversation without mentioning me. It’s like I’m your secret ingredient for spicing up dull discussions!

Grow up :)

Repost of Questions 2/3

4) The resignation of BDO

I worked as an IT auditor in a Big 4 accounting company in the UK for nearly 7 years. An auditor resigning is always a heads-up. I acknowledge the reason BDO gave, however, it does not add up to me. I am confident to question this as I know what may be going on behind the scenes is not always what is given to the public. The longer it takes you to appoint a new auditor, the more spooked investors will be.

Question: While the stated reason for BDO's resignation is noted, could you please provide additional transparency regarding the specific circumstances surrounding their departure and the timeline for selecting and onboarding a new auditor? This information would help alleviate investor concerns.

5) Plant Upgrade

Contrary to my thoughts on the chat board on this issue, I have since seen that the 2021 technical report does mention that a new elution and electrowinning circuit was to be installed to improve the efficiency of the processing plant. I still have to ask how come we are managing only 94% recovery when the mine plan was for 97%.

Question: The 2021 technical report mentioned an upgrade to the elution and electrowinning circuit aimed at improving processing efficiency. However, the current gold recovery rate of 94% remains below the 97% target outlined in the mine plan. Could you please provide a detailed analysis of the factors impacting gold recovery, including any technical challenges or ore variability, and outline the steps being taken to achieve the targeted recovery rate?