Im starting a campaign get molyhill into production, its more than 10 yrs when I bought my first shares in molyhill at 10p, surely this should be our year!!!
Come on now heads down you seem to be doing well but I need it to turn in to profit!!
Just added but wish I hadn't read this original post as it reminded me of Xcite everyone keep saying this and then it went bust and I lost 10's of thousands! I am really hoping to pull some back with this share. I will not be buying anymore though, I have quite a few thousand pounds worth on this and will now wait and hope this is a genuine company with honest directors (unlike Xcite).
"After years of challenge in the tungsten sector, the Company has received interest in its projects from multiple avenues. To secure best value for shareholders we must be seen to drive our tungsten interests forward whilst engaging commercially with third parties. We are doing that right now and the accelerated focus on critical commodities in the U.S. means Pilot Mountain is exceptionally well positioned to create considerable value."
2 bill dollars value in the ground at at pilot mountain, with a investor this will 5 bag at least, interesting comments about talking to interested parties and near term news flow.
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to provide an update with regard to significant legislative developments in the U.S. impacting the Company's Pilot Mountain tungsten project and the consequent strategic impact expected on the Company's forward business plan.
The Company is pleased to advise shareholders that the United States House of Representative's Natural Resources Committee has passed the National Strategic and Critical Minerals Production Act (the "Act"). While further steps are required in the legislative process, the successful passing of this legislation is expected to be a key step to enable the acceleration of permitting and related matters pertaining to critical metals projects in the United States.
Thor Mining has a 100% interest in the Pilot Mountain Tungsten Project and in May 2017 (see below) the Company delineated an indicated and inferred JORC compliant resource of 32,720t of tungsten trioxide, 192t of silver and 14,300t of copper.
The U.S. Department of the Interior has published, in February 2018, a list of commodities considered critical to the US, including tungsten. Therefore the passing of the Act is of particular significance to Thor and the Pilot Mountain project.
It should also be noted that there is currently no domestic supply of primary tungsten in the US.
On 8 December 2017 the Company announced a 120 day option to acquire the Western Shaw Project in Western Australia. The Company has undertaken initial due diligence work on the project which has now been finalised.
Reflecting the progress achieved across the Company's Pilot Mountain, Kapunda and Molyhil key projects since the 8 December 2017 option over Western Shaw was announced, the board resolved to limit any diversion of financial and management resources to those deemed particularly outstanding, as outlined within our 8 March 2018 Business Strategic Update a copy of which can be viewed here:
The board have decided, on the basis of the due diligence undertaken to date, and given the need to focus our resources on our three key projects which the board consider are capable of delivering considerable near term upside, that we will not proceed with Western Shaw at this time. We wish the project owner Redstone well with the project.
Mr Mick Billing, Executive Chairman of Thor commented: "In December 2017, just three months ago, we signalled significant project milestones for our core tungsten and copper projects, including the Molyhil Open Cut Ore Reserve, and the Kapunda Copper mineral resource estimate. We could not however, accurately predict the positive events outside of our control, including the continuing strengthening of the tungsten price, and now this US initiative to streamline and accelerate regulatory approvals of mining developments for critical minerals in the USA. That said, now we must react to those positive developments in an appropriately commercial manner, and with a sense of urgency."
"On 8 March 2018 we announced we would focus entirely on our strategic tungsten and copper interests. We have followed through with that today and although we have many exploration opportunities, we must be hard headed and now recognise Thor already has three substantial advanced tungsten, and copper, interests each of substance and significantly scalable."
"After years of challenge in the tungsten sector, the Company has received interest in its projects from multiple avenues. To secure best value for shareholders we must be seen to drive our tungsten interests forward whilst engaging commercially with third parties. We are
There is a lot going on here. Three main projects. Funded until 2019. Positive regulatory news and a market cap of only £21m so the big guys are not interested yet. I have been acquiring on dips and topped on on Friday. Investor presentations due this coming week. Looks like a rare case where PIs have a chance to beat the pros albeit mainly because of their current lack of interest. The point is that an institution only bothers to do research if it can then sell the research and get paid by placing client money. With only a market cap of 21m there is little incentive. A quiet board implies that this is on few peoples radar - yet!
Thank you for the response. I'm not sure of the exact terms of these warrants, so please excuse my ignorance on that one, but if the warrants were granted to the directors, and they exercised them, and then sold the shares, I would have thought that would have been announced to the market, so we would have seen exactly which directors were selling, and how many shares they sold. When I look at the recent RNS feed, I see that people are exercising warrants, and I see some directors buying, but I don't see any director sales (unless I missed them). In any case, there are limitations on when directors can sell shares, and it would be a risky strategy for a company director to try and talk up a share for the sole reason of being able to pump up the price before dumping lots of stock (it is not something that anyone would be able to pull of on a regular basis that's for sure).
As for a better explanation, I'm not sure I do have one, but my thoughts would be along the following lines:
1) This is a small company with a small market cap that is operating in a high risk sector. This can lead to quite a lot of volatility in the share price at times.
2) The exercising of warrants will add to the volatility as current shareholders are being diluted at a lower price to the current market price.
3) Generally I would view the fact that the directors are buying as a positive sign. At the very least it shows that they have some confidence in how things are going. Whether private investors choose to share that confidence when they don't have the same visibility is another question altogether.
HI , I was asking a while back if they had to keep the cheap shares that they aquire for any length of time so they dont just buy and then dump them. Since then we decided that they can sell straight away. What Im saying is that they buy them cheap 1.9p, talk the share up, sell at 4p (sending price back down) and then buy back at 3p ish
The good news is that the shares they are awarded have now gone up for them to buy (setting a floor of about 3p, I hope) and at least they are buying them back so they must have some confidence.
I was saying I wish I was brave enough to follow what they are doing but the time I try it will keep going up!
Have you got a better explanation for the share going up 25% and the back down within a day after what was good news?
Maybe the Non-Executive Director purchase of a small number of shares (250,000 at 3.10 pence) will stop the downward drift of the price that has followed the RNS of the Kapunda Copper Resource. I think some people think the grades was too low, but I think this is incorrect as they are using a low cost leaching processes which need lower grades to remove most of the copper and 119,000 tonnes of contained copper should be welcomed for a small AIM mining PLC. Or maybe people just sold on news after a good run. Either way I had a small top-up at 3.088p. fingers crossed and good luck everyone
300% up over a few weeks, then a wee bit of settling back. Don't panic Capt Mainwaring! The trend is good. 3.25p looks like the new floor. Proven resources, cash in the bank to see us through this year and next. Metal Tiger putting their money where their mouth is. Contracted royalty stream. Incentivised board. DAS is quite happy to hold, wait and see. Steady as she goes...
The market is up, the news is good, the sun is shining (on the South Coast at least!), but Thor is down with a massive spread. Time for nerves of steel ladies & gents. Keep the faith and all will be well. When fear and greed rule the roost, Logic has nothing to do with it!
The Kapunda numbers are looking good, hopefully the resource upgrade will be reflected in our share price when the London market opens today. It's time to dig and sell Mr Billing, dig and sell! Good luck all, DAS.
So it could be good or bad. Personally if MTR have bought in at such volume and paid a premium last month (they bought at 3p when the spread was 2.5-2.7) I somehow feel they had an insight into the potential of THOR and news so IMHO good news awaits.
Just a thought
ASX over the past week or so have been about 20% up
on London markets.
So by close on Friday we are up roughly 20% on todays
price could that be the reason for the suspension on ASX
All square Friday and off we go together on the Monday?????
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