Thor Energy Share Discussion Threads

[bantam175] 07/3/2017 14:54

Ah Thks.

Wondered at me missing gold.

On the already got list.

[edgein] 07/3/2017 13:59

Bantam,

Its not in Nevada but Dundas is SW Australia. Also the £500m estimate is for Pilot mountain only, doesn't include Molyhil also in Oz (devex of about $40m NPV about $250m mine life about 6 years payback in about 18 months, tungsten price was lower though).

Regards,
Ed.

[bantam175] 07/3/2017 13:51

I didn't see any mention of gold just tungsten, copper and silver.

Very happy to take it if it's there though :-))

Also happy to see the price recovered above my top ups from yesterday.

[edgein] 07/3/2017 12:59

Euclid,

Yup listen to the recent youtube clip that was put up a few days ago. Mick billing on a skype interview said most of these holes just need twinned with the old holes and they can be reclassified (or words to that extent). That as well as the new extensions too. He suggeted around April, but we'll get the holes and the assays first though.

Bantam, its not all about Tungsten either, the gold assets will come into play later in the year too.

Regards,
Ed.

[bantam175] 07/3/2017 12:48

A £4million cap company "Possibly" finding half a billion £'s worth of value could create a similar multi bagger to REM a few years ago.

Lots of wait and see though :-)

All imho dyor etc

[euclid5] 07/3/2017 11:57

“If the drill results match those that were reported in the 1970s data, our geologists should be able quickly to declare a deposit. Our exploration manager has come up with an exploration target and if he’s right we’re talking about a hell of a lot of value. Even at the lower end of the range we’re talking about something sizeable.”

Above taken from Today's proactive Investor's website

[edgein] 07/3/2017 11:38

I guess this is why they suspended after the second hole:

"The second & potentially very exciting objective is to test for potential extension of high grade mineralisation at the eastern end of the Desert Scheelite resource, which, if successful, could result in the re-classification of that deposit as a significant tungsten and copper deposit."

Then today:

"51 metres of scheelite mineralisation, including 9 metres of visible sulphide mineralisation, including visible chalcopyrite, intersected 25 metres to the east and approximately 50 metres closer to surface from high grade Desert Scheelite intersection from DSDD015.

Following this very encouraging result, a previously unplanned third hold hole has commenced targeting a further 25 metre extension of the Desert Scheelite deposit.

I've seen companies on the ASX halt for far less. You could see them halted again if the next hole comes in with similar.

Regards,
Ed.

[area44] 07/3/2017 10:03

I don't figure out why this needed to be suspended,even though the rules are more stricter on ASX.

It did make the stock rise though!

I think we can expect a placing in the near future, - a very large one.

I'm not holding here now,and I would not touch this at any price.

[edgein] 07/3/2017 08:25

Cpap,

Did you listen to the interview posted on here recently? Around $1.70AU in the bank at present. They could drill Pilot Mountain, get the JORC and drill Dundas for that. Its all shallow holes here. But you could be right though, after some or much of that MB is likely to raise more cash.

Regards,
Ed.

[cpap man] 07/3/2017 08:20

Mick Billing will no doubt have his begging bowl out today or very soon!

Waiting for that call already!

[paleje] 07/3/2017 08:08

Pinnytoo, cheers, got it. (2908 of 2918)

[bigtune888] 07/3/2017 08:07

May buy some at 0.8p

[edgein] 07/3/2017 08:06

Mike,

Looks like there's still a few profit takers from yesterday around. But then there's another 6 or so holes to drill and the assay results before moving to Dundas around mid year.

Regards,
Ed.

[113mike] 07/3/2017 07:51

Thanks Edgein.. will be watching at the open!

[edgein] 07/3/2017 07:49

113,

Mike actual spread before close yesterday was 1.20-1.25, not all market markers are currently online so its impossible to tell where this will open. Hard to say what the largest intersect to date will do to the share price and this extension to the current reserve area. Its still only capped around £4m with lots of holes to drill in Nevada and Oz.

Regards,
Ed.

[113mike] 07/3/2017 07:45

what will this do to the sp? ... i see its being marked down before the open?

[edgein] 07/3/2017 07:32

Very interesting that they've encountered this extension to the east as MB described this as a potential game changer. Interesting posts on Hotcopper regarding the value of this project before extension to quote mr Kodal:

PCFG Acquires $700 Million Ore Deposit
TORONTO, Aug 19, 2005 /PRNewswire-FirstCall via COMTEX/ -- Pacific Gold Corp., (OTCBB: PCFG) announced today that, Pilot Mountain Resources Inc., a subsidiary of Pacific Gold Corp., has acquired Project W from Platoro West Incorporated ("Platoro West"). Resource calculations from a feasibility study completed by Kaiser Engineers place the size of Project W at 9,061,600 tons, grading 0.386% WO(3) of combined proven, probable and possible ore, or approximately 35,000 tons of WO(3). Current prices of WO(3) as quoted in the Northern Miner place the gross value before extraction costs of the tungsten deposit at $674 million, not including credits from additional minerals.
Project History
"During the 1970's and early 1980's, diamond drilling conducted independently by the Duval Corporation and Union Carbide Corporation resulted in the identification of three principal resource areas. Reports addressing the occurrence of tungsten mineralization and estimates of Project W resources have been prepared by the Duval Corporation, Union Carbide Corporation and independent consultants including Kaiser Engineers, Inc. and David S. Robertson and Associates. Pilot Mountain Resources Inc. has access to these reports through its agreement with Platoro West"

"In the three principal resource areas currently identified,

a resource of 8,299,000 tons averaging 0.33% WO(3) was calculated for the Desert Scheelite occurrence,


a resource of 427,200 tons averaging 0.42% WO(3) was calculated for the Gunmetal occurrence,


and a resource of 1,562,800 tons averaging 0.37% WO(3) was calculated for the Garnet occurrence.

Pilot Mountain Resources Update

Significant maiden JORC resource estimate for the Desert Scheelite Deposit completed by independent consultants, Golder Associates, exceeds guidance by 36%.
Indicated and Inferred Resource of 6.79Mt @ 0.31% tungsten trioxide (WO3), 22.8g/t silver and 0.17% copper reported at a 0.2% WO3 cut-off with 90% of this resource in the "Indicated" category. Resource contains;
2.1 million MTU's of WO3 -
25 million pounds of Copper
4.9 million ounces of Silver

hxxp://www.pacificgoldcorp.com/news120711.html

Quick calcs

WO3 = 21,000 tonnes x £1667 per tonne = £350m Gross NPV value
Copper = 11,339 tonnes x £5000 per T = £57m Gross NPV
Silver 4.9m oZ x £14 per ounce = £68m Gross NPV

Total = £475m Gross NPV based on JORC 202 Resource figures

£475m did by 367m shares in issue = 130p Gross NPV before Capex costs

This is all before any possible upgrades to the resources"

Regards,
Ed.

[temmujin] 07/3/2017 07:31

Metal Tiger plc Thai JV Spinout and Update on Thai Minerals Act

07/03/2017 7:24am
UK Regulatory (RNS & others)

Metal Tiger (LSE:MTR)
Intraday Stock Chart
Today : Tuesday 7 March 2017



TIDMMTR


Metal Tiger Plc


("Metal Tiger" or the "Company")


Thai JV Spinout and Update on Thai Minerals Act


Metal Tiger Plc , the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to advise that the Company has completed a successful pre-IPO private placing with High Net Worth and Sophisticated Investors for KEMCO Mining PLC ("KEMCO"), which will be the listing vehicle for the Company's Thai JV.


Highlights:



-- Placing of 514,500 fully paid Warrants to subscribe for one ordinary
share each in KEMCO upon successful admission to AIM, at a 20%

discount to the admission price, raising gross proceeds of GBP514,500


-- Contingent upon successful admission to AIM, a further warrant to
subscribe for ordinary shares in KEMCO at a 50% premium to the

admission price within a 24 month exercise period. These further

warrants are to be issued on a one for one basis by reference to the

number of KEMCO shares issued as a result of the placing warrants


-- Should the admission of KEMCO not occur by 13 October 2017, the
warrants will automatically convert into Metal Tiger shares by

reference to the 15 day VWAP following this date, less 20%


-- Should MTR announce via RNS that the IPO of KEMCO will no longer
occur, the warrants will automatically convert into MTR shares by

reference to the 15 day VWAP following the date of the announcement,

less 20%


-- Participation of both MTR Directors and prospective KEMCO directors,
along with employees of both companies totalled GBP67,000 (MTR Directors

participated for GBP35,000)


-- Strong support from existing MTR shareholders

-- Proceeds to be used to fund IPO costs and for ongoing working capital
of Thai operations


Separate to the pre-IPO fund raise, since 1st January 2017 to date, Metal Tiger has provided funding of approximately GBP590,000 to the Thai JV to cover working capital and advisers' costs. Metal Tiger will likely contribute further moderate sums to support the Thai operations between now and completion of the Kemco Mining IPO.


Thai Minerals Act


Metal Tiger PLC is also pleased to announce that the new Minerals Act has been signed by the King of Thailand and will be in force on 30 August 2017. The signing of the draft and its subsequent implementation has come quicker than we had previously anticipated, removing a key element of timetable uncertainty in the permitting process. We are pleased that our Thai partners will be in a position to make submissions to the relevant authorities at an earlier date and have full confidence that they will make the strongest possible case for the permitting of both Boh-Yai and Song-Toh historical mines.


Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented: "We are delighted to have closed this pre-IPO funding round for KEMCO which has received strong support from existing MTR shareholders and the directors and employees of both companies. This demonstrates a confidence in the quality of our Thai JV assets and their potential as a standalone entity and creates a solid foundation for the IPO.


We are also very pleased the new Minerals Act has been signed ahead of expectations. This demonstrates the Thai Governments long term commitment to the extractive industry. We look forward to continuing to work closely with our Thai JV partners to make the IPO a success."


Metal Tiger Directors Investment


Name Amount Invested Warrants Received
Charles Hall GBP25,000 25,000
Michael McNeilly GBP5,000 5,000

[hyper al] 07/3/2017 07:29

Are directors allowed to buy shares in their company just before a positive RNS like this?

[temmujin] 07/3/2017 07:16

AWESOME SILVER GRADES!

51 METRES OF MINERALISATION INTERSECTED

RNS

RNS Number : 6798Y
Thor Mining PLC
07 March 2017

7 March 2017



THOR MINING PLC

51 METRES OF MINERALISATION INTERSECTED

PILOT MOUNTAIN - NEVADA

The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to advise the intersection of 51 metres of mineralisation from the second drill hole designed to test for extensions to the Desert Scheelite deposit at the Company's wholly owned Pilot Mountain tungsten project in Nevada, USA.

Highlights:

· 51 metres of scheelite mineralisation, including 9 metres of visible sulphide mineralisation, including visible chalcopyrite, intersected 25 metres to the east and approximately 50 metres closer to surface from high grade Desert Scheelite intersection from DSDD015;
· Drill hole designed to follow up the 2012 high grade intersection at DSDD015 (17.5m @ 5.7% Cu equivalent) which comprised; 13.9 metres (m) @ 0.89% tungsten trioxide (WO3) from 198m, and 17.5m @1.80% copper and 2.2% zinc from 196m (Figure 2);
· Drill hole sample assays expected within several weeks;
· Following this very encouraging result, a previously unplanned third hold hole has commenced targeting a further 25 metre extension of the Desert Scheelite deposit;
· The first hole at Desert Scheelite terminated without intersecting any visible mineralisation, due to what appears to be a fault displacement above the targeted zone of mineralisation.

Mr Mick Billing, Executive Chairman of Thor: "The objective of testing for potential extension of high grade mineralisation at the eastern end of the Desert Scheelite resource appears to have achieved that aim. While we await assays to have an indication of the grade of mineralisation, and estimation of the true thickness, extension of the zone with an apparent thickening, is an exciting development for the project."
"While the initial planning for this program at Desert Scheelite included plans for only two holes, we are sufficiently encouraged by this result to immediately conduct a third drill hole to test for further extensions".

The Desert Scheelite deposit currently comprises 100% of the Pilot Mountain Resource estimate of 6.7Mt. The objective of the two holes programmed at this deposit is to test for extensions to the high grade mineralisation intersected in the last hole drilled into this deposit in 2012.
Table 1: Pilot Mountain Resource Summary 2014 (JORC 2012), announced 10 June 2014. 100% owned by Thor Mining Plc

Desert Scheelite

Resource

WO3

Ag

Cu

Tonnes

Grade %

Contained metal (t)

Grade g/t

Contained metal (t)

Grade %

Contained metal (t)

Indicated

6,090,000

0.31

18,900

24.2

150

0.16

10,000

Inferred

700,000

0.30

2,100

9.1

10

0.24

2,000

Total

6,790,000

0.31

21,000

22.8

160

0.17

12,000

The two initially planned drill holes targeting Desert Scheelite mineralisation in the vicinity of previously drilled DSDD15 have now been completed.

The first of these (Hole 1) was designed to test for mineralisation 100 metres vertically above DSDD15. This hole failed to intersect mineralisation due to what appears to be fault displacement.

Hole 2 targeted mineralisation 75 metres above and 25 metres to the east of DSDD15 and intersected 51 metres of visible scheelite mineralisation from 142 metres down hole including 9 metres of higher sulphide style mineralisation, including visible chalcopyrite from 172 metres down hole. While this very encouraging drill intersection appears to be comparable with the intersection of DSDD15, assay results are required to confirm actual metal content.

Intersections quoted in this hole, and also for previous drilling results for DSDD15, are down hole measurements only, as at this stage there is insufficient data to adequately assess true width of mineralisation.

A third hole has now commenced targeting mineralisation a further 25 metres to the east of this second hole, following which drilling will commence on the Garnet prospect.

[temmujin] 07/3/2017 07:05

METAL TIGERS INVESTMENT NOW WORTH A COOL £500,000

[temmujin] 07/3/2017 07:04

Metal Tiger Plc

("Metal Tiger" or the "Company")





STRATEGIC INVESTMENT - THOR MINING





Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce a strategic investment totalling £100,000 in Thor Mining plc ("Thor Mining")(AIM:THR).

Highlights:



§ Investment of £100,000 to acquire 400,000,000 Thor Mining shares at 0.025p;



§ Metal Tiger to receive one warrant at 0.05p for each Thor Mining share purchased at 0.025p in the placing (being 400,000,000 warrants in total), with a warrant life of 30 months;



§ Following completion of the above Metal Tiger will own 400,000,000 shares representing 6.97% of Thor Mining's issued share capital.





Paul Johnson, Chief Executive Officer of Metal Tiger commented "Metal Tiger continues to build a diverse range of natural resource investments around what we believe is the bottoming phase in natural resource microcap and junior equities.



Today's investment is another step in our building process and comes at a time when Thor Mining has recently experienced a strengthening of its finances through the sale of Spring Hill thus enabling it to orientate toward existing and potentially new project development.



We look forward to monitoring developments at Thor Mining with interest."

[prinnytoo] 07/3/2017 06:42

Paleje.....Consolidation!

[paleje] 07/3/2017 00:13

Leeds, are you sure about those share buys (post 2900)? They total 39m shares.

But the latesT RNS on PJ's holdings says :-

Following the above mentioned acquisition, Paul Johnson and his spouse are beneficially interested in 7,002,649 Ordinary Shares, representing 1.91 per cent of the issued share capital of the Company.

That's quite a difference. Has he sold a load along the way?