Thor Explorations Share Discussion Threads

[ukgeorge] 22/10/2024 08:28

80,000 with a margin of conservatively us$1,500 is $120M Even if it is just $1,000, that's 80M Gold is posting new highs again today. Look forward to these being debt free and seeing the cash pile growing. They must also have many months' worth of stockpiled, albeit lower grade ore.

[ukgeorge] 21/10/2024 18:03

I'm hoping this is just a nice opportunity fingers crossed we do well soon

[royalalbert] 21/10/2024 09:29

Anyone told these people gold is $2731.

[ukgeorge] 18/10/2024 08:38

Decided to buy some more today, sold some non producing lithium plays. Fingers crossed the strong cash flow continues and the share price responds.

87 and 67k shares strange they haven't shown up yet

[ukgeorge] 16/10/2024 06:37

Results out, a few small issues but seem to be handling them well. PFS out this quarter.

[swanvesta] 10/10/2024 16:06

Just spotted this on CEO.ca. Hopefully they have some grown-ups in the federal government.

[cat33] 08/10/2024 13:10

Good summary from Jim https://mining.beehiiv.com/p/jim-s-mining-letter-october-8-2024Worth reading

[stevea171] 08/10/2024 07:53

Segilola drilling summary. Current 12 hole drill program. 5 drills completed with results from the first 2 out yesterday. Remaining 7 drills to be completed in about the next 5 weeks subject to current heavy rains.

If the assay results for the remaining 10 holes confirm the proof of concept Thor will substantially ramp up the amount of drilling they are doing underground.

The pit shell was designed at gold prices way below current so Segun sees the opportunity to take the main pit lower to extract more resource than is in the current mine plan as well as potential underground mining.

Segun interviewed on drill results:

[farrugia] 01/10/2024 12:05

Bailing out on panic is usually a mistake. Weak holders got flushed that's for sure. The key is not to avoid risky jurisdictions but to keep your risk levels such that it doesn't affect your blood pressure!

[sharekitchen1974] 01/10/2024 11:33

Should have put this to bed months ago before it came to this. Will take time to rebuild confidence now.

[swanvesta] 01/10/2024 11:16

Indeed. And I posted over an hour ago.

[foetus in your brain] 01/10/2024 11:14

The claim has been settled and paid in full. RNS out 30mins ago

[swanvesta] 01/10/2024 11:11

Foetus, assuming you're addressing me, I don't have precognition.

[swanvesta] 01/10/2024 11:07

Presumably Osun state once had a holding in Tropical Mines, which was sold to SROL in 2016. Maybe they have seller's remorse, or maybe they voted against the sale but lost.

SROL's earlier response was very robust:


Seems that rattled Osun's cage. But if they want us to believe there is any legitimacy to their claims, the heavy-handedness is telling. A bit of a test for Nigeria as it tries to grow up as a jurisdiction?

[foetus in your brain] 01/10/2024 10:57

Missed the news?

[trader465] 01/10/2024 10:53

60 billion naira is $35,866,075.80 at todays rate

[swanvesta] 01/10/2024 09:57

Apparently the main issue (60 billion naira) has to do with a claim that dirty tricks were used to deprive Osun of a share they once had in the project. But the enforcement action has to do with unpaid tax. Maybe they're doing whatever they can to fight what they are portraying as all round dirty tactics. Or maybe it's just a cash grab.

[farrugia] 01/10/2024 08:21

hopefully it won't stay a one-trick pony. Their Senegal developing project looks worth the market cap by itself. But if you are one to panic jurisdictions like these aren't for you.

[sharekitchen1974] 01/10/2024 08:18

You take your chances, some you win, some you lose, and up until now things seemed okay but that red flag killed it for me, shame as it's a good company but operating in a country full of bribery and corruption. Before you know it Minister of mines wants a chunk and it's all over, brown envelopes flying everywhere, biggest envelope wins, that's greed for you

[farrugia] 01/10/2024 08:14

Stop the scaremongering. Maybe they should just settle the tax and then dispute it later. These things can happen in Nigeria; look how Seplat Energy had to battle it out.

[hamidahamida] 01/10/2024 07:57

Anyone still holding this get out whilst you can Remember it's Nigeria anything is possible

[adw198] 01/10/2024 07:49

Yes but I wondered why you’d invested in Nigeria if that’s how you feel.

Anyway, events have taken a turn for the worse it seems, certainly in the short term. Things were looking so good!

hxxps://punchng.com/osun-seals-mining-company-over-tax-infractions/

[sharekitchen1974] 01/10/2024 07:47

Corruption in Nigeria

[adw198] 30/9/2024 14:49

Sorry, what’s a red flag?

[sharekitchen1974] 30/9/2024 13:56

Exactly that, then they explore every way possible to try and take the assets away from you, it's a massive red flag