Thor Energy Share Discussion Threads

[bsg] 22/4/2016 08:48

There is for Mick.

[bdbiometric] 21/4/2016 16:22

Any future here?????

[liquid millionaire] 07/3/2016 08:05

Thor Mining PLC







Half-yearly Report

For the six months ended
31 December 2015



HIGHLIGHTS

· Completion of the acquisition of 49% of the Spring Hill gold project for A$310,000, including cash of A$210,000, to take Thor ownership to 100%.
· Option agreement signed to sell 100% of Spring Hill for total consideration of A$3.5 million plus royalties. The option was exercised, and the sale completed, after the period end.
· Tungsten prices remain subdued, however capital & operating costs savings have been identified for Molyhil tungsten project.

[bantam175] 26/2/2016 16:28

Beats me this

[bsg] 26/2/2016 11:12

26-Feb-16 09:11:06 0.038 9,340,144 Buy 0.032 0.039 3,549
26-Feb-16 10:47:58 0.025 9,340,144 Sell 0.025 0.03 2,335

[bsg] 26/2/2016 10:37

Mick still has plenty to sell yet.

[vish65] 26/2/2016 10:19

LOL . It will soon be spent and enable the share price to fall back further. Not far to go now to reach NIL.

[liquid millionaire] 26/2/2016 09:25

Mr Mick Billing, Executive Chairman of Thor Mining, commented:

"The receipt of the A$2.0million is a significant milestone for Thor and it has substantially strengthened the Company's financial position. These funds will enable the Company to continue to progress its asset portfolio in challenging market conditions.

"The near term focus of the Company is to continue to develop its Tungsten assets and I look forward to updating the market in due course."

[liquid millionaire] 26/2/2016 09:20

RNS Number : 2800Q

Thor Mining PLC

26 February 2016

26 February 2016

THOR MINING PLC

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

A$2MILLION CASH PAID TO THOR UNDER TIERED SALE OF SPRING HILL GOLD PROJECT

Cash proceeds of A$2.0 million have been received by Thor Mining Plc ("Thor") (AIM, ASX: THR) as the Company completes the first tranche of the sale of its 100% owned Spring Hill Gold Project in the Northern Territory of Australia.

Thor is selling Spring Hill to the private Australian company, PC Gold Pty Ltd ("PC Gold"), for A$3.5 million, plus royalties, originally announced on 16 December 2015.

Under the terms of the agreement, PC Gold is acquiring TM Gold Pty (Thor's wholly owned subsidiary which holds the Spring Hill Project) for:

-- A$2.0 million (now received) in cash, for a 60% interest, and 100% management control, in TM Gold; and

-- A$1.5 million, payable in cash within 12 months, for the remaining 40% interest.
In addition, following completion of the acquisition of the 100% stake, PC Gold will pay to Thor 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 per ounce; and

-- A$14 per ounce of gold produced from the Spring Hill tenements where the gold so produced is sold for amounts over A$1,500 per ounce.

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 the project sale proceeds will be applied towards discharging that loan in full.

Mr Mick Billing, Executive Chairman of Thor Mining, commented:

"The receipt of the A$2.0million is a significant milestone for Thor and it has substantially strengthened the Company's financial position. These funds will enable the Company to continue to progress its asset portfolio in challenging market conditions.

"The near term focus of the Company is to continue to develop its Tungsten assets and I look forward to updating the market in due course."

[hjfe] 03/2/2016 15:45

Looking ready for a breakout now.

[liquid millionaire] 29/1/2016 07:58

29 January 2016
Thor Mining PLC
Quarterly Report for the period ended 31 December 2015

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the Australian tungsten and gold explorer and developer, today lodge the quarterly report for the period ended 31 December 2015. It is has also been released today with the Australian Securities Exchange (ASX) as required by the listing rules of ASX.

Highlights

GOLD
Spring Hill, Northern Territory ("NT")
· Completion of the acquisition of the remaining 49% project interest for A$310,000, including cash of $210,000

· Memorandum of Understanding ("MOU") to sell 100% of Spring Hill NT project for A$3.5 million cash plus royalty

TUNGSTEN AND MOLBDENUM
Molyhil, NT
· Tungsten and molybdenum prices remain depressed

Pilot Mountain, Nevada USA
· Exploration scheduled pending availability of funds

Outlook for March Quarter 2016

· Completion of sale agreements and disposal of initial 60% interest in the Spring Hill Gold Project for A$2.0 million

· Continued discussions to secure project finance for the Molyhil Tungsten-Molybdenum Project

· Ongoing discussions for balance of concentrate production take-off at the Molyhil Project

· Planning for exploration phase on deposits with previous multiple mineralised intersections at the Pilot Mountain Tungsten Project

Executive Chairman of Thor Mining commented:

"Capital markets for junior resource companies remain extremely tight and we are therefore very pleased with the agreement to sell the Spring Hill project on terms which will considerably strengthen our financial position.

"Thor is, at the core, a tungsten business, and while very low commodity prices make project finance for the Molyhil project challenging, the low capital and operating cost estimates stand Thor in good stead and the board are confident that finance will be secured in the medium term."

[guyswonga74] 29/1/2016 07:23

RNS out. Positive news on gold sale and commission confirmed

[bsg] 22/1/2016 09:33

If not, then continue with the incessant placings, they must be through the last 500k by now.

[bsg] 22/1/2016 09:17

Can't see it myself, 3.5M seems too much. Stranger things have happened though.

[liquid millionaire] 22/1/2016 08:45

"Following that determination, PC Gold will advance the balance of the A$150,000 deposit, with A$25,000 already received, and move to completion of definitive documentation for the proposed acquisition."

[liquid millionaire] 22/1/2016 07:45

"PC Gold has advised Thor that they expect a decision late next week to determine if the financing offer to PC Gold will become unconditional."

[howdlep] 21/1/2016 12:41

and there it is. This could move quickly as volume picks up

[howdlep] 21/1/2016 12:35

Watch those trades, the real price is moving up. Tick up coming soon

[guyswonga74] 10/1/2016 16:57

THR are very cheap to buy at the moment may buy some more with that first tranche of money coming soon

[greatfull dead] 31/12/2015 12:56

Wising All a Happy and Prosperous New Year.

GD

[guyswonga74] 20/12/2015 14:08

Positive about the future here. Nice to see that 10k buy on Thursday. Very much under the radar

[liquid millionaire] 17/12/2015 13:16

THR mentioned + in todays Geoff Foster - market report - Daily Mail

[bsg] 16/12/2015 08:45

They should do a share buy back with some of the money.