Thor Energy Share Discussion Threads

[bsg] 12/11/2014 10:33

I think they're a roll over.

[edgein] 12/11/2014 09:53

What do folks make of those two large trades reported near close yeserday, a 20m roll or 2 similarly priced buys? Surely that is a very generous spread for a roll of that size, 0.1195 vs 0.12. Anyone ever roll these and get a spread that tight? Mine are paid for so have never rolled here.

Regards,
Ed.

[bsg] 05/11/2014 13:30

The Sim. Thanks.

[the sim] 05/11/2014 13:20

bsg,

Lanstead's holding has remained static at 515,434,082 shs, it's their percentage of the share capital in issue that's reduced because of the last placing, this going to 15.24% from 18.58%.

Dave

[113mike] 05/11/2014 11:52

'bout time too!

[bsg] 05/11/2014 11:13

Does look like another placing is going to happen soon.

edit : LANSTEAD are reducing

[edgein] 31/10/2014 09:32

Hyper,

Yeah the little jv partner with THR on the gold assets are in liquidation. I hope that THR get the other 20% of their gold assets on the cheap giving is total control of the asset for the future. I still think the best value lies in the gold assets but the Tungsten is the closest to production. Good to see strength in the Tungsten and Molybdenum prices though, should show that Molyhill and Pilot Mountain are worth more than our meagre £2.8m cap.

Regards,
Ed.

[tubest] 31/10/2014 07:43

Hyper base metal rights sold,gold rights retained

[tubest] 31/10/2014 07:40

If Billing pulls his finger out

[liquid millionaire] 31/10/2014 07:35

THR could well be a 10X BAGGER from the current share price....1p+

[liquid millionaire] 31/10/2014 07:33

THR



Recent comment by Vsa Capital

Strong prices this year for tungsten and molybdenum have improved the economics of Thor Mining’s (ASX:THR,LON:THR) Molyhil project in Australia, said broker VSA. Thor is currently upgrading its reserves on the back of recently completed optimisation studies, while it also has gold prospects at Spring Hill and Dundas, also in Australia. The recent optimisation work cut operating expenses at Molyhil by 13%, while a revised feasibility study should increase the reserves to support a six year life, assuming run-of-mine production of 400,000tpa. VSA added that tungsten prices are well supported at current levels, given the tightness of supply now that China has curbed its presence in international tungsten market.This year so far, molybdenum prices have risen by 35%.

Thor recently acquired the Pilot Mountain tungsten project in western Nevada with a compliant resource of 6.8Mt grading 0.31% WO3 (tungsten) and last week raised £0.6mln gross to finalise an upgraded DFS for Molyhil. Including these, the house broker estimates an indicative equity value for the company of £25.3mln, equivalent to 0.91p/share. “Speculative buy” is its rating.

[liquid millionaire] 31/10/2014 07:30

Commenting, Mr Mick Billing, Executive Chairman of Thor Mining, said:
"Progress on the Molyhil DFS was steady during the quarter, and while we have not yet finalised the DFS, it is due shortly. The upgraded Molyhil Open Pit Ore Reserve statement should contribute significantly to the project bottom line. The acquisition, now completed, of the Pilot Mountain project in the USA adds significant tungsten resources to the Thor portfolio. Thor Directors and management are becoming increasingly excited about the potential to add to the resource estimate at Pilot Mountain, where we have a number of "walk up" drill targets."

[liquid millionaire] 31/10/2014 07:15

THOR MINING PLC

QUARTERLY ACTIVITIES REPORT
PERIOD ENDING SEPTEMBER 2014


Dated: 31 October 2014

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the Australian tungsten and gold explorer and developer, today lodge the following September 2014 quarterly report. It is has also been released today with the Australian Securities Exchange (ASX) as required by the listing rules of ASX.

Highlights
Outlook for December Quarter 2014

TUNGSTEN & MOLYBDENUM
Molyhil NT.
· Revised ore reserve extends mine life to 6 years.
· Project Capital & Operating cost estimates near completion.
· Process flow sheet variation testwork.



· Finalise testwork on proposed variations to process flow sheet.
· Revise Definitive Feasibility Study (DFS) to reflect upgraded ore reserve, cost reductions & ore sort upgrade.
· Continue off-take discussions for balance of concentrate production.
· Negotiations to secure project finance.
Pilot Mountain, Nevada USA.
· Project acquisition finalised.



· Develop plans for initial exploration phase.

GOLD
Spring Hill NT
· No work during the quarter


· Continued evaluation of potential for profitable production.

Dundas WA
· No work during the quarter.


· Aircore drilling program contingent upon available funds.


Commenting, Mr Mick Billing, Executive Chairman of Thor Mining, said:
"Progress on the Molyhil DFS was steady during the quarter, and while we have not yet finalised the DFS, it is due shortly. The upgraded Molyhil Open Pit Ore Reserve statement should contribute significantly to the project bottom line. The acquisition, now completed, of the Pilot Mountain project in the USA adds significant tungsten resources to the Thor portfolio. Thor Directors and management are becoming increasingly excited about the potential to add to the resource estimate at Pilot Mountain, where we have a number of "walk up" drill targets."

[bsg] 29/10/2014 12:19

Must be about time for another placing.

[edgein] 28/10/2014 08:28

006trader,

Agreed, its got similar grades to Molyhill so it will be another for the future once they get this revised DFS sorted and out. 12 months down the line those Black Fire guys will hopefully be able to sell those shares at a much higher price! :)

Regards,
Ed.

[113mike] 28/10/2014 08:20

Thanks for the summing up there. I was wondering what it was all about and if it was positive or not.

[liquid millionaire] 28/10/2014 07:55

THOR MINING PLC

Thor Mining PLC ("Thor" or the "Company")

Pilot Mountain Acquisition - Update


The directors of Thor Mining PLC' ("Thor" or "Company") (AIM, ASX: THR) are pleased to announce the completion of the acquisition of the Pilot Mountain tungsten project, in the US state of Nevada, from Black Fire Minerals Limited ("Black Fire") (ASX: BFE) (termed the "Acquisition").

Further to the announcement of 24 October, the Company is pleased to announce that all the documentation relating to the Acquisition has been finalised and executed. The Acquisition is now formally complete.

Consideration for the Acquisition remains unchanged from that which was previously announced, being $1,675,000 (or £921,250) to be settled by the issue of 418,750,000 ordinary shares of 0.01p each in Thor, at an agreed issue price of A$0.004 per share (or £0.0022).

The shares will be admitted to trading on AIM on 29 October 2014, and will be subject to a 12 month escrow period. Thor shareholders approved the issue of those shares on 31 July 2014.

A number of Thor Directors provided unsecured loans totalling $175,000 (or £96,686) to Black Fire in March 2014, to enable Black Fire to complete its acquisition of the Pilot Mountain Tungsten Project, subsequently creating the opportunity for Thor to acquire the Pilot Mountain Tungsten Project from Black Fire. The Directors agreed to convert their unsecured loans to Thor CDIs, immediately upon completion of the subsequent Acquisition by Thor.

With the Acquisition now complete, 96,685,082 Ordinary Shares of 0.01p each in Thor will be admitted to trading on AIM, on the 29 of October 2014, as repayment of unsecured Director loans, at an issue price A$0.00181 (or £0.001). Thor shareholders approved the issue of those shares on 31 July 2014.

Following the Admission of the above two share issues, the Company's total issued share capital will comprise of 2,865,949,603 Ordinary Shares. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.

[richgold1971] 24/10/2014 11:24

Probably because the DFS is a month late, hardly inspires confidence

[006trader] 24/10/2014 10:19

Can't believe we are not seeing more volume today!! at the opening the share price was 0.12 - 0.16.
Few decent buys can see this moving quickly, still the upside is that all trades this am have been buys.

[lyceeuk] 24/10/2014 07:51

More in the bag:-)