Thor Energy Share Discussion Threads

[leedskier] 16/12/2015 08:30

38 million bought and no sales.

[bsg] 16/12/2015 08:30

That's a few more years of drilling holes for Mick and his mates.

[liquid millionaire] 16/12/2015 08:05

LOL Loverat you're before your time!

[loverat] 16/12/2015 07:58

Indeed. Not the stock of 2014 as I predicted!

LM clearly thinks the ALO RNS was better. He posted that three times.

[liquid millionaire] 16/12/2015 07:50

If THR continue to raise funds in this way and avoid dilutive placings then THR could well be a stock for 2016!

[liquid millionaire] 16/12/2015 07:48

Mr Mick Billing, Executive Chairman of Thor Mining:

"The sale of the Spring Hill and Dundas Gold Projects is a great result for Thor and will generate substantial cash upside for the Company in a challenging market. It also allows Thor to continue to focus on its core tungsten projects in Australia and the United States.
"The team we have in place will continue to concentrate on optimising the Company's Tungsten projects, and I look forward to updating the market as these develop."

[liquid millionaire] 16/12/2015 07:47

LOL sorry leedskier in a rush and did't even notice!

[leedskier] 16/12/2015 07:46

LM,I suppose it is better for it to have been posted twice ;

[liquid millionaire] 16/12/2015 07:40

THOR MINING PLC

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

THOR SIGNS OPTION TO SELL GOLD INTERESTS FOR A$3.5M

Thor Mining Plc ("Thor") (AIM, ASX: THR) is pleased to announce the signing of an option agreement to sell its interests in the Spring Hill and Dundas Gold Projects to the Australian company PC Gold Pty Ltd ("PC Gold").

The terms of the agreement state that for a deposit of A$150,000, payable within 21 days, PC Gold will hold a 30 day option to acquire TM Gold Pty ("TM Gold") (Thor's wholly owned subsidiary which holds the Spring Hill and Dundas interests) for:

· A$2.0 million (less the deposit already paid) payable in cash, for a 60% interest, and 100% management control, in TM Gold; and
· A$1.5 million payable in cash, within 12 months of the initial payment, for the remaining 40% interest.

In addition, following completion of the acquisition, PC Gold will pay a royalty of:

· A$6.00 per ounce of gold produced from the Spring Hill tenements where the gold is sold for up to A$1,500.00 per ounce; and
· A$14.00 per ounce of gold produced from the Spring Hill tenements where the gold is sold for over A$1,500.00 per ounce.

The agreement with PC Gold is subject to the receipt of an unconditional financing offer by PC Gold from RIVI Capital LLC of San Francisco USA, a specialist precious metal private equity fund.

Thor has previously been the recipient of loan funds totalling A$1.2million, secured, in part against the Spring Hill project, and a portion of proceeds from the sale will, in the first instance, be applied towards that loan with the balance being used to develop the Company's tungsten activities and to provide general working capital.

TM Gold had capitalised Exploration & Evaluation expenditure of A$6.3 million funded by loans from the Company which will be converted to equity contemporaneously with the purchase by PC Gold. TM Gold spent a minimal amount on exploration and other expenses in 2015.

Mr Mick Billing, Executive Chairman of Thor Mining:

"The sale of the Spring Hill and Dundas Gold Projects is a great result for Thor and will generate substantial cash upside for the Company in a challenging market. It also allows Thor to continue to focus on its core tungsten projects in Australia and the United States.
"The team we have in place will continue to concentrate on optimising the Company's Tungsten projects, and I look forward to updating the market as these develop."

[leedskier] 16/12/2015 07:14

16 December 2015

THOR MINING PLC

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

THOR SIGNS OPTION TO SELL GOLD INTERESTS FOR A$3.5M

Thor Mining Plc ("Thor") (AIM, ASX: THR) is pleased to announce the signing of an option agreement to sell its interests in the Spring Hill and Dundas Gold Projects to the Australian company PC Gold Pty Ltd ("PC Gold").

The terms of the agreement state that for a deposit of A$150,000, payable within 21 days, PC Gold will hold a 30 day option to acquire TM Gold Pty ("TM Gold") (Thor's wholly owned subsidiary which holds the Spring Hill and Dundas interests) for:

-- A$2.0 million (less the deposit already paid) payable in cash, for a 60% interest, and 100% management control, in TM Gold; and

-- A$1.5 million payable in cash, within 12 months of the initial payment, for the remaining 40% interest.

In addition, following completion of the acquisition, PC Gold will pay a royalty of:

-- A$6.00 per ounce of gold produced from the Spring Hill tenements where the gold is sold for up to A$1,500.00 per ounce; and

-- A$14.00 per ounce of gold produced from the Spring Hill tenements where the gold is sold for over A$1,500.00 per ounce.

The agreement with PC Gold is subject to the receipt of an unconditional financing offer by PC Gold from RIVI Capital LLC of San Francisco USA, a specialist precious metal private equity fund.

Thor has previously been the recipient of loan funds totalling A$1.2million, secured, in part against the Spring Hill project, and a portion of proceeds from the sale will, in the first instance, be applied towards that loan with the balance being used to develop the Company's tungsten activities and to provide general working capital.

TM Gold had capitalised Exploration & Evaluation expenditure of A$6.3 million funded by loans from the Company which will be converted to equity contemporaneously with the purchase by PC Gold. TM Gold spent a minimal amount on exploration and other expenses in 2015.

Mr Mick Billing, Executive Chairman of Thor Mining:

"The sale of the Spring Hill and Dundas Gold Projects is a great result for Thor and will generate substantial cash upside for the Company in a challenging market. It also allows Thor to continue to focus on its core tungsten projects in Australia and the United States.

"The team we have in place will continue to concentrate on optimising the Company's Tungsten projects, and I look forward to updating the market as these develop."

Enquiries:

[bsg] 15/12/2015 10:28

My guess for 2016. There will be placing !

[bsg] 13/11/2015 15:46

... as well as a miracle!

[howdlep] 13/11/2015 15:01

Would be bullish to see a break of MA200 @ c0.06p:-


free stock charts from uk.advfn.com

[howdlep] 13/11/2015 14:35

Now up 15% and with a narrower spread.

Time for an update on those value realising Springhill Project discussions, as defined in the 30/10 RNS:-

"Since the Company's announcement on 30 April 2015 that it had entered into an agreement to acquire that part of the Springhill Project it did not already own, the Company has received a number of unsolicited offers and proposals to purchase or otherwise realise the value from the Project, each of which the Company has considered. With the Company now owning 100% of the Springhill Project (as announced on 22 October 2015), the Company has advanced negotiations with one party. Negotiations are not complete and terms have not yet been agreed. A detailed announcement will be made if and when final terms are agreed and otherwise in compliance with the Company's continuous disclosure obligations."

[2seabass] 30/10/2015 12:05

the section in the rns that interests me is that the Co. has been in discussion with several parties, but is now only negotiating with one in particular. Take what you will, it means others may not be interested in going on, or Co. has chosen best option.

[2seabass] 30/10/2015 11:58

yes, but its the eventual market cap that counts. - ie if end value is x15 then you are in profit.

[2seabass] 30/10/2015 11:58

yes, but its the eventual market cap that counts. - ie if en value is x15 then you are in profit.

[bsg] 30/10/2015 11:55

I think there were about 300,000,000 total when I started investing. what a mistaka to maka!

[2seabass] 30/10/2015 11:52

yes, there are over 4BN shares issued - point I was making that Barclays have already now traded 156M so far. Any more rumours or news about the Chinese interest (on going some time since Daily Mail snippet) will soon clear the rest.

[bsg] 30/10/2015 11:23

was it not 800,000,000 odd at 0.05p.

[2seabass] 30/10/2015 10:39

more shares bought so far today (96M) than the recent placing of 76M!!

[bsg] 30/10/2015 10:07

Selling assets ... Mick's run out of placings... (at last). It will be good to focus on one asset.

[howdlep] 01/10/2015 07:58

Vague rumours of a Chinese bid attracted buyers to Australian miner Thor, 0.01p dearer at 0.05p(Daily Mail)