FONTY
- 03 Sep 2005 10:30
As you know I love the exciting AIM stocks - Just made a killing on Highbury House Communications HHO.
Now onto the next dangerous deal. ONLY FOR THE BRAVE AND THOSE WHO HAVE MONEY TO LOSE!
Just recently come onto AIM and initial results of 'top scrapings' good. They are doing deeper investigations - results coming out later in September - if successful the sp could go up to 25p - if not it's is bust.
Thor has been established as a mineral exploration and development company. Its wholly owned subsidiary Sunsphere, based in Perth Western Australia, has resource assets in the Northern Territory of Australia. The Board seeks to increase shareholder value by the systematic exploration of its existing resource assets as well as the acquisition of suitable exploration and development projects and producing assets.
The principal project of the Company is the Molyhil molybdenum-tungsten deposit in the Northern Territory. The Molyhil deposit has an indicated resource of 1,530,000 tonnes at 0.32% WO 3 and 0.19% MoS 2 , and an inferred resource of 500,000 tonnes at 0.25% WO 3 and 0.15% MoS 2 . The Directors believe that, based on historical experience and bulk sampling, mining should demonstrate head grades exceeding current drill-indicated grades, and that the proposed further exploration should give scope for an increase in resource estimates.
The Directors have extensive experience in both the mining and finance sectors. The Directors are experienced in the evaluation of mining assets, in raising funds on international capital markets, in evaluating acquisition and investment prospects and in the day to day management of public companies. The Directors believe that their expertise and experience will benefit the Company in the development of the Companys business.
The Directors will undertake shaft sinking and further detailed sampling to evaluate the head grade and mineralogical characteristics of the Molyhil deposit. The results will be utilised to update the current JORC Code compliant resource and provide the final resource to complete the feasibility study. The Directors believe that a further fund raising will be required as the Molyhil deposit approaches production.
Sunspheres portfolio of properties comprise seven tenements at Molyhil, Thring Creek and Hatches Creek in the Northern Territory.
mininginvestor
- 12 Oct 2005 08:55
- 2 of 100
Interesting post Fonty. Thor has now sunk three shafts into the orebody and the JORC resource calc is underway. What has happened, according to the press release is that the grade is way up (to 1% combined = about 34g/t gold equivalent) and the metallurgy is better. This will be a very nice small mine spinning off a ton of cash flow in under 12 months in my view. Add the exploration upside of the other prospects and Thor's valuation looks ridiculously cheap. One of the gems that the market has totally missed.
FONTY
- 09 Jan 2006 17:16
- 3 of 100
Have you seen the RNS today and the volume?
AndrewThomson77
- 23 Jan 2006 12:08
- 4 of 100
RNS today raising estimates for the Molyhill Project. Up 10%.
FONTY
- 23 Jan 2006 22:23
- 5 of 100
Yes and volume making Thor hit top 5 in the Volume leaders of the AIM stocks
moneyman
- 23 Jan 2006 22:34
- 6 of 100
Good for RGM too as they have a 5% holding here.
FONTY
- 19 Feb 2006 15:14
- 7 of 100
RGM out but interesting City Equities have bought the 8.2m shares. Would like to see bigger boys start investing in them soon.
Andy
- 20 Feb 2006 10:07
- 8 of 100
fonty,
Not a good sign (IMO) as City Equities are going to push those out to punters at a nice little premium to the discounted price they paid, for a quick turn.
Andy
- 20 Feb 2006 10:08
- 9 of 100
fonty,
Looking at the recent chart, looks like the market already knew!
FONTY
- 22 Feb 2006 21:26
- 10 of 100
Andy - yes but at least it is being traded and eyes will open from others we hope
explosive
- 05 May 2006 18:59
- 11 of 100
Evening all, thinking of cashing in some GFM shares and just want to know the latest with this. Been quite on the boards recently however on my watch list as solid long play. Metal prices seam good? Anyone?
FONTY
- 05 Jul 2006 18:16
- 12 of 100
Welcome Explosive
I am going for this one as a hold for a year. The write ups are good and the stock is cheap but for some reason everyone is missing it. When they start mining 'for proper' it should go -I am optimistic.
explosive
- 05 Jul 2006 20:01
- 13 of 100
Still on my watch list Fonty, @ 3p a share I belive this could fall further as like you say no production as of yet.
robertalexander
- 06 Jul 2006 09:04
- 14 of 100
in for a small gamble, lets hope i have more luck than with BGF[which i still hold at a small loss]. in time ,all things being equal, they ought to go up. or bust!!
in line with all my purchases give it a min and the SP should fall:)
[maybe i should just say i have bought and then buy after the SP has fallen...LOL]
Alex
explosive
- 07 Jul 2006 19:33
- 15 of 100
Hey don't knock BGF just yet, decline is due to timetable slipping on production. But with the BlueWhale fault this slip in production could well deliver a better grade later in the year.
robertalexander
- 10 Jul 2006 19:34
- 16 of 100
what does the RNS giving poor metal results mean for THR?
Alex
explosive
- 22 Aug 2006 20:32
- 17 of 100
Looks like we'll see a fund raising event before the years out with these. I remain on the side lines watching...
robertalexander
- 15 Sep 2006 17:21
- 18 of 100
did anyone go to the meeting on the sep 6 and did anything useful come out of it. by all accounts the AST side of things was informative. i hold a very small holding [2750 shares] for a highly speculative gamble. given the usual SP fall when i buy, i have put these in the 'forget and hope for a miracle' pile.
Alex
robertalexander
- 23 Sep 2006 08:33
- 19 of 100
how does this warrants issue work? in laymans terms, as i have 458 of them and wouldnt want to waste them
Alex
FONTY
- 06 Oct 2006 08:16
- 20 of 100
Consolidation and now a longer hold but COH did this and then doubled. The last RNS was positive this week. Since I started this thread thought it prudent to state where I am on this. Holding a large number and no doubt will take another year but at least the tax reduces enormously after 2 years. This is a make me rich or bust me!
robertalexander
- 13 Oct 2006 00:43
- 21 of 100
anyone help with my last[18 of 20] ? please
explosive
- 19 Oct 2006 20:32
- 22 of 100
alex - what do you want to know then re: warrants?
robertalexander
- 24 Oct 2006 10:56
- 23 of 100
sri for the delay in replying but away from home at this time.
what do i do with them and when? i have never held warrants before and i only got these cos of the consolidation. i assume i can use these to buy more shares at a preset price sometime in the future as long as the shares go up in value. i also assume rightly[or wrongly hence my question] that if the SP goes down then i will get nothing in respext of these warrants
your help on understanding warrants greatly appreciated and i apologise if i take a long time to acknowledge but am fighting in iraq at the moment.
Alex
robertalexander
- 30 Oct 2006 15:22
- 24 of 100
Thor Mining confirms potential of tungsten oxide, molybdenum production
AFX
LONDON (AFX) - Thor Mining PLC confirmed potential production of its Molyhil Tungsten-molybdenum Project at around 100,000 metric tonne units of tungsten oxide a year and 1 mln lbs of molybdenum a year, and said it had completed drilling and its geological survey for the project.
It said the feasibility study for the project is due to complete in November 2006.
newsdesk@afxnews.com
tfn-mum-ssa/jfr
COPYRIGHT
Copyright AFX News Limited 2006. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
explosive
- 30 Oct 2006 21:45
- 25 of 100
Alex, your on the right idea with your warrents, there are two types though 'Call' and 'Put'. Call warrents represent a specific number of shares that can be bought from the company at a specific price on or before a certain date (most likely on). You hear of directors receiving options in shares, same thing! Put warrents are the reverse and deal with selling shares back to the company. Of course if you don't take up the warrent it'll expire however if your not interested you should see if you can sell the warrent, normally these trade at a fraction of the sp.
Just for now note the warrent expiry date, how much per share or bulk it costs and how much notice your broker requires to buy.
robertalexander
- 31 Oct 2006 08:04
- 26 of 100
explosive,
do you hold THR, and did you get these warrrants? if you do you will know what type i have. if not will have to give my broker a ring. they show up on my nominee a/c as worth 5 for all 452 warrants[the fraction of a penny per share bit i assume]. will be expensive from Iraq i bet.
robertalexander
- 03 Nov 2006 10:55
- 27 of 100
moving up dont know why but who cares
explosive
- 04 Nov 2006 18:53
- 28 of 100
Not holding, was debating getting in months ago and wish I had with more recent sp rises!
FONTY
- 13 Nov 2006 12:44
- 29 of 100
Keep holding for a very long time and this could make a lot. I am now resigned to holding for 2 years but I do own 50Ks worth in shares and cfds. It is an exciting stock and can keep me dreaming for months!
oilyrag
- 01 Dec 2006 10:16
- 30 of 100
With the suspension in Australia until 5 December awaiting results of feasibility study, this could be a good chance to top up on holdings.
FONTY
- 01 Dec 2006 16:40
- 31 of 100
Oilyrag
Great to see an experienced punter on this board. I am pleased it is up 9.52% today and I will enjoy having the ride our lives.
hodgins
- 01 Dec 2006 23:22
- 32 of 100
Eyes down Monday night, 11PM for Tuesday in Australia announcement and effect here. Topped up, well only 10,000 more at 10.70 early this morning.
Warrants (called options in Australia) should follow share price closely now and give better leverage from a trading perspective but don't think I'll sell those as better return likely achievable in the future.
THR remains little followed but some useful commentary over the other side
robertalexander
- 02 Dec 2006 04:10
- 33 of 100
hodgins,
when would be the theoretical best time to convert[buy/sell] warrants. i hold some following the consoldation and have no idea what type they are. or what to do with them. Explosive tried to explain to me but still not clear.
Alex
oilyrag
- 02 Dec 2006 06:28
- 34 of 100
Hi FONTY, I'm honoured that you consider me to be an experienced punter. I just like to have an opinion on most things. I find that the best way to confirm a good find, is to bounce ideas off other people and see how they react. It helps you to keep a balanced view and not get suckered in on a bum deal. Back to Thor, a couple of weeks ago, they purchased a complete set of tressle tables for 750,000 approx half price. I don't consider for one moment that they would have purchased these, if the news that is about to come out is anything but positive. With regard to Robertalexander and the warrants, the answer is simple, if the purchase price stated on the warrants is less than the market price and you want to buy at that price, then exercise them through your broker. If you havn't exercised them by the expiry date on the warrant then you will lose them.
hodgins
- 02 Dec 2006 23:37
- 35 of 100
ra
If you held Thor shares before date when price was adjusted (it was only adjusted because no share is allowed to list in Australia under 20 cents) you were "GIVEN" a certain number of warrants (called options in Australia, which they were given on listing) which are now tradeable.
I would be in no rush to sell these on the basis of increased share price in the future being worth more or convertible to shares at a lower price (before date quite some time into the future).
However, it may be worth buying more warrants on Monday (before announcement in Australia our Monday night) and if there was significant share price rise the percentage rise in the warrants would be greater than the shares and it could be worth then selling these on a trading basis although spread on warrants is quite a bit wider.
oilyrag
- 04 Dec 2006 10:21
- 36 of 100
Todays news is brilliant for the long term, however, with a further placement in the near future there is going to be a bit of dilution. I feel that over the coming months we may see a small drop in Thors sp, depending on the placement price. Myself, I shall put this one on the back burner for a while and keep a close eye on purchasing opportunities.
explosive
- 04 Dec 2006 18:48
- 37 of 100
Still nothing to temp me in from the sidelines, the sp seams to jump with very little to substantiate it.....
oilyrag
- 05 Dec 2006 08:23
- 38 of 100
Sorry boys, looks like I was right, its slipping back a bit. Buying target price for me is 8-10p, selling target price 11-12p. I forsee a few months of price drifting until placement price and date are known..
oilyrag
- 14 Dec 2006 07:56
- 39 of 100
Thor down 8.16% in Oz overnight, could drop 0.8p today, to about 9.25p mid price.
FONTY
- 16 Feb 2007 09:05
- 40 of 100
Good news - still holding for the long term. Went up 30% on news but end of the day was up 15%. Worth looking into guys. I hold 45K
robertalexander
- 22 Feb 2007 05:35
- 41 of 100
when do the warrants expire[issued late last year] and at what price were they for?
they seem to have gone up to ~4p.
Would hate to miss out and not do anything with them.
regards
Alex
robertalexander
- 05 Apr 2007 13:20
- 42 of 100
whats going on here the warrants[are 8p by sep 2009] have gone up nearly 36% in 2 days and share price now upto ~14p. this can only be good. is this in any way connected to uranium being flavour of the month?
anyones thoughts
Alex
FONTY
- 10 Apr 2007 13:43
- 43 of 100
They have finally started mining and discovering more substantial drilling sites. I am holding for the ten bagger. Up and up. I want a long steady rise so that AIM Capital Gains relief works!
Also it is a stock that has started to trade - hopefully soon it will no longer be the forgotten mining stock.
robertalexander
- 12 Apr 2007 21:01
- 44 of 100
bit of profit taking i presume. still holding and wishing i had been braver and bought more.
Alex
explosive
- 19 Apr 2007 21:19
- 45 of 100
Wishing I'd also bought more but thats the risk with these penny shares. If they fly its great, more end up as wishful thinking though.
explosive
- 19 Apr 2007 21:19
- 46 of 100
Wishing I'd also bought more but thats the risk with these penny shares. If they fly its great, more end up as wishful thinking though.
steveo
- 11 May 2007 08:18
- 47 of 100
Thor sp recovering following updated resource report.
Someones buying today no traeds registered yet sp up 8%
THOR MINING PLC
FURTHER DRILLING RESULTS FOR MOLYHIL
Dated: 9 May 2007
Thor Mining PLC ('the Company' or 'Thor') AIM, ASX: 'THR', the specialist metals
company focused on advancing tungsten-molybdenum and uranium projects in the
Northern Territory of Australia, announces further significant results from the
recently completed program of reverse circulation ('RC') drilling at its
100%-owned Molyhil Tungsten-Molybdenum Project ('Molyhil') in the Northern
Territory.
All results from the recent round of drilling have been received with the
exception of drill holes 07MHRC007 and 07MHRC011. The drilling program was
completed in March 2007 with 25 RC holes drilled for 2,586m.
Further high grade results (see table 1) have now been received from the program
of infill RC drilling.
Table 1 - Molyhil RC drilling Results (>0.10%)
Hole ID Width From To Grade % MoS2 Grade %
(m) Grade % WO3 MoS2 + WO3
07MHRC001 NSR
07MHRC002 NSR
07MHRC003 NSR
07MHRC004 1 28 29 0.13 3.62 3.75
2 31 33 1.29 0.11 1.40
*07MHRC005 2 70 72 <0.10 0.48 0.48
1 76 77 <0.10 0.17 0.17
1 77 78 0.76 <0.10 0.76
1 96 97 0.21 0.22 0.43
*07MHRC006 2 67 69 <0.10 0.48 0.48
1 73 74 0.11 0.16 0.27
1 74 75 0.79 <0.10 0.79
1 93 94 0.21 0.22 0.43
07MHRC007 SNR
07MHRC008 6 34 40 0.48 <0.10 0.48
4 42 46 0.37 0.32 0.68
07MHRC009 14 9 23 0.17 3.23 3.40
07MHRC010 19 53 72 0.43 2.52 2.96
7 74 81 0.28 0.33 0.61
07MHRC011 SNR
07MHRC012 19 34 53 0.35 1.44 1.79
6 61 67 0.20 0.13 0.33
*07MHRC013 2 78 80 1.07 <0.10 1.07
5 93 98 <0.10 0.48 0.48
3 108 111 <0.10 0.37 0.37
3 112 115 0.42 <0.10 0.42
10 117 127 0.43 0.52 0.95
1 131 132 0.42 0.26 0.68
*07MHRC014 1 108 109 0.73 1.19 1.91
10 111 121 0.61 1.04 1.65
07MHRC015 5 22 27 0.27 0.46 0.73
11 29 40 0.18 0.82 1.00
6 40 46 0.19 <0.10 0.19
07MHRC016 6 27 33 0.41 <0.10 0.41
11 33 44 0.18 0.54 0.72
*07MHRC017 11 62 73 0.96 <0.10 0.96
1 77 78 <0.10 0.20 0.20
4 82 86 0.12 <0.10 0.12
1 123 124 2.03 4.33 6.36
*07MHRC018 1 50 51 1.63 8.92 10.55
3 73 76 <0.10 0.13 0.13
3 77 80 0.32 0.14 0.46
2 83 85 0.58 0.43 1.01
3 113 116 0.34 0.41 0.75
07MHRC019 3 93 96 <0.10 0.47 0.47
07MHRC020 1 87 88 <0.10 1.00 1.00
3 93 96 0.64 0.24 0.89
6 105 111 0.92 <0.10 0.92
*07MHRC021 7 113 120 0.15 0.20 0.35
2 126 128 0.18 0.30 0.48
*07MHRC022 7 114 121 0.69 0.48 1.17
2 124 126 0.81 <0.10 0.81
1 132 133 <0.10 0.16 0.16
2 138 140 0.43 0.66 1.09
1 146 147 0.37 <0.10 0.37
1 154 155 0.56 <0.10 0.56
07MHRC023 NSR
07MHRC024 2 22 24 0.28 2.80 3.08
2 39 41 0.62 0.64 1.26
8 46 54 <0.10 1.13 1.13
07MHRC025 3 104 107 0.50 <0.10 0.50
3 109 112 0.23 0.29 0.52
2 132 134 <0.10 1.02 1.02
NSR - No significant Results
SNR - Sample not received
* - Results reported previously
These results are from samples that were prioritised to expedite the assay
process. Samples from this program are being sent to an independent laboratory
for check assaying due to their high grade nature.
The results from this check sampling program will need to be received before the
recalculation of the current resource and ultimately the reserve.
steveo
- 11 May 2007 08:20
- 48 of 100
Molybdenum due to be in high demand soon due to replacement for pipelines coming to end of life, need 6% moly to resist saline.
Good write up in telegraph and repeated in moneyweek last week re put moly in your pension fund, this could be a good one, expect some further take off interest to grow following withdrawal of hunan last month.
FONTY
- 11 May 2007 09:03
- 49 of 100
Yup - a good longish term hold for high risk returns - I have 50K worth by the way so eagerly following.
robertalexander
- 30 May 2007 20:47
- 50 of 100
any thoughts as to why THR out of favour? Hunan was a disappointment but hopefully someone else will come on board. there was mention of uranium too[this years buzzword]. am holding long term and will top up when funds permit
Alex
robertalexander
- 13 Jun 2007 20:13
- 51 of 100
11th May 2007
Thor Mining PLC (AIM & ASX: THR), the mineral exploration and development
company focussing on molybdenum, tungsten and uranium assets based in the
Northern Territory of Australia, announces that air core drilling will commence on the
13th of May at its 100% owned Hale River Project. The Central Land Council and
representatives of the traditional people of the area were on site on Wednesday and
Thursday of this week. Thor has today received verbal approval for approximately
90% of all drilling sites. The Mining Management Plan for the initial work programme
has also been approved by the DPIFM.
The final report on the Hale River Hoist EM interpretation from the Companys
consultants resulted in six prospective areas being identified along south easterly
striking palaeo-channels, with depth to basement estimated between 45m and 130m.
These channels also contain irregular flat conductive carbonaceous sedimentary
units, which are an important component for the localisation of secondary uranium
mineralisation (see fig1).
Orbit Drilling Pty Ltd have been contracted to complete the 47 hole, 3,000m air core
drilling programme. Drilling results should be available in approximately six weeks.
Approvals have also been sought for drilling on the Plenty River Project, located to
the north east of Hale River.
Yours faithfully
THOR MINING PLC
John A Young
Chief Executive Officer
JORC Compliance
The information in this report that relates to exploration results, mineral resources or ore reserves is
based on information compiled by John Young, who is a Member of The Australasian Institute of Mining
and Metallurgy. John Young is a director of Thor Mining PLC. John Young has sufficient experience
which is relevant to the style of mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. John
Young consents to the inclusion in the report of the matters based on his information in the form and
context in which it appears.
results should be out soon then?
Alex
share trader
- 02 Jul 2007 23:22
- 52 of 100
Recent media coment,
click here
explosive
- 18 Jul 2007 16:23
- 53 of 100
Sold for 40% gain
explosive
- 24 Jul 2007 23:25
- 54 of 100
Thor Mining boosts coffers with placing
Monday, July 23, 2007, 03:24 PM
Thor Mining (AIM, ASX: THR) the specialist metals mining group said it had issued 6.8 million shares at 11 pence per share to raise an additional 748,000 before expenses. 6 million shares were taken by City Equities.
Thor said it will use the funds to continue financing the development of its Molyhil Tungsten/Molybdenum Project in Australia.
robertalexander
- 27 Jul 2007 10:54
- 55 of 100
Thor Mining says final metallurgical grades at Molyhil better than expected
AFX
LONDON (Thomson Financial) - Thor Mining PLC said the final metallurgical work and concentrate specifications at its Molyhil tungsten-molybdenum project in Australia produced better than expected grades.
Primary molybdenum concentrate assayed a 51.4 pct gradee, with a recovery of 77.8 pct, while primary tungsten concentrate assayed 72.9 pct, with a recovery of 65.4 pct.
Further cleaning and blending of the secondary tungsten product may improve this recovery, Thor said.
The metals company also said that due to delays in the delivery of updated resource figures, it now expects the completion of its off-take negotiations for the Molyhil project to be pushed to the end of September.
TFN.newsdesk@thomson.com
robertalexander
- 27 Jul 2007 10:56
- 56 of 100
apart from the delay in negotiations, i read this as a good bit of news . what am i missing? the market doesn't see to agree. or is it just a knock-on effect from y/days market losses?
your thoughts anyone
Alex
share trader
- 07 Aug 2007 13:46
- 57 of 100
proactiveinvestors.com comment, click
HERE
NabCom
- 07 Aug 2007 13:55
- 58 of 100
August 06, 2007
Thor Mining Has Some Enviable Quality In Its Assets
Thor Mining is an Australian company seeking speciality metals in this case tungsten and molybdenum - which is now getting very close to production. John Barr, the executive chairman, recently told Minews that he would love to have been able to announce offtake agreements for the concentrates at DiggersnDealers, but could not get through all the legal paperwork in time. As it is the announcement is expected at the end of this month and that means that the development finance for the Molyhil mine, east of Alice Springs in the Northern Territory, should be buttoned up a matter of weeks later. That being the case Thor should hit its target of being in production before the end of 2008 provided it receives all the necessary mining permits in time.
Investors should also take into account that Thor has a dominant position in an area of the Northern Territory that is acknowledged as very prospective for uranium.
http://www.minesite.com/nc/minews/singlenews/article/thor-mining-has-some-enviable-quality-in-its-assets/1.html
oilyrag
- 07 Aug 2007 20:41
- 59 of 100
The rns out today I thought to be very positive along with a mate of mine. We both bought in and all trades were routed through dealers, both purchases were recorded as sales, so we arn't getting an accurate picture at the moment.
This share was one of my share picks for this year, and I suggested that later in the year will be the time for it to move. I know that it has already been a lot higher than its current price, but I think this is now the start of positive movement.
Todays price fall is a bit of a joke and everyone ought to take it as an opportuity to buy in or top up. Good luck to all holders.
robertalexander
- 07 Aug 2007 22:54
- 60 of 100
Wish i had some more cash to top up with. I hold warrants so todays drop was doubly bad for me. I believe they will return to a more appropriate SP in good time.
Anyone else holding warrants or are you full-blown share holders?
Alex
robertalexander
- 14 Aug 2007 20:38
- 61 of 100
Ouch!
Oilyrag are you still in? trying to decide whether to top up in warrants or shares. obviously i can get more warrants for my money at the mo. i believe they are good for 1 oct 2009. They expensive at the mo[relative to full share SP].
any thoughts
Alex
steveo
- 14 Aug 2007 21:26
- 62 of 100
Sticking with it for the long term, bagger or bust, may top up in due course.................. the world needs moly and all the other commodities, prices may stall for a while but not for long term, this is a super cycle and anyone who can prove reserves and get it out will profit in the long term, good opportunity to top up, but don't have the cash at mo
oilyrag
- 15 Aug 2007 07:30
- 63 of 100
Hi RA, yes I am still in and topped up yesterday when I saw the price drop.
oilyrag
- 15 Aug 2007 07:50
- 64 of 100
Someones just been ripped off 10,000 shares at 6.75p. 1p below the bid 15 mins before start of trading. No patience some people. Maybe I topped up too early, I shall keep a close eye on this one.
oilyrag
- 22 Aug 2007 07:44
- 65 of 100
THR up 12% in oz overnight. Another 1.25p would be nice today.
explosive
- 04 Sep 2007 23:44
- 66 of 100
Theres alot of good miners out there though and many not carrying the risk as with this one
robertalexander
- 05 Sep 2007 21:24
- 67 of 100
I am still holding but would like to see the SP retrace to where it was before the markets got Jittery. Especially as i believe they posted what i thought was reasonable good news on finds obviously the delays on permits won't help SP.
Alex
hlyeo98
- 05 Sep 2007 23:12
- 68 of 100
This is a disaster company. I bought at 20p and it has been dropping since. Should I sell at 7.25p now?
oilyrag
- 07 Sep 2007 10:37
- 69 of 100
Hlyeo, it is purely your decision, however you bought in at a year high, on the back of a massive movement in the sp. I firmly believe that this companies price will move up considerably during next year when mining commences. If you look at the chart you will notice that the sp is at its lowest point since the recent rise, if you sell now you will be throwing your money away as I honestly think that sp is at the bottomish, and then with the spread to take into account you will not be able to buy back in cheaper IMHO. Give it a year or so and I think you may be a lot happier.
robertalexander
- 12 Sep 2007 19:52
- 70 of 100
Thor Mining PLC
12 September 2007
THOR MINING PLC
Final Results for the period ended 30 June 2007
Dated: 12 September 2007
Thor Mining PLC ('the Company' or 'Thor'), AIM, ASX: 'THR' the specialist metals
company focused on advancing tungsten-molybdenum and uranium projects in the
Northern Territory of Australia, announces its final results for the period
ended 30 June 2007.
Executive Chairman's Operating and Financial Review
OPERATING REVIEW
Thor is a mineral exploration and development company focussed on advancing
molybdenum, tungsten and uranium projects in the Northern Territory of
Australia. The 2007 financial year has seen progress for Thor across a number of
important activities. Highlights for the year included;
Highlights
In July securing the services of John A Young, a geologist of some 20
years standing, in the role of Chief Executive Officer. John has quickly
built up a professional team.
In September an A$10.0 million (4.0 million) fund raising and dual
listing on the Australian Stock Exchange.
As part of the fund raising and dual listing, Thor completed the purchase
of Hale Energy Limited, thus securing over 3,000 sq kms of uranium
exploration ground.
During the year in excess of 300,000 was spent on exploration of the
uranium tenements.
In addition to the fund raising and dual listing, in excess of 200,000
was raised by placings and exercising of warrants during the year.
As a consequence at June Thor had in excess of 1,800,000 in cash, which
was supplemented by the recent 748,000 post balance date placing.
Molyhil Project Highlights
At the Molyhil Project in excess of 900,000 was spent on exploration,
including drilling and associated work.
Thor also completed a Definitive Feasibility Study ('DFS') confirming that
the project is technically and economically viable.
Since that time additional metallurgical studies have been completed,
selected plant items have been secured and environmental and native title
aspects of the project are near completion.
In excess of 680,000 was spent on development work during the year.
Since year end a new resource statement has been completed and Thor is now
vigorously pursuing an off-take agreement and financing of the project.
The team continues to focus on the twin strategies of developing the Molyhil
Tungsten - Molybdenum Project, by securing an off-take agreement and financing
for the project, and exploration of the extensive uranium tenements.
John W Barr
Executive Chairman
THOR PROJECTS
MOLYHIL TUNGSTEN - MOLYBDENUM PROJECT ('MOLYHIL')
Molyhil is a proven resource where a proposed open cut mine and processing
facility is planned. The main objective of the proposed development is to
produce scheelite and molybdenite concentrate for sale.
It comprises of an Exploration Licence; and Mining Lease Applications, and is
situated east of Alice Springs in central Australia.
A number of milestones have been achieved during this financial year, including:
Completion of the Definitive Feasibility Study;
Engineering work advanced;
Marketing of product progressing;
Upgrading of Metallurgical recovery results;
Purchase of selected plant;
Completion of Notice of Intent to Mine and Public Environmental Review;
Mining agreement with traditional owners ready to be signed;
Updated resource completed with 55% increase in overall tonnage to 3.73
million tonnes; and
Significant increase in Measured and Indicated categories to 530,000t at
0.42% WO3 and 0.27% MoS2 and 2,400,000t at 0.39% WO3 and 0.17% MoS2
respectively.
Definitive Feasibility Study
This DFS report was prepared by consultants and confirmed the technical and
economic feasibility of developing Molyhil.
The study included preliminary design, engineering and cost estimates for the
mining, process plant and associated facilities based on a 300,000 tpa
operation.
The ore reserve estimate used in the study was completed in 2006 and was
established through a series of mine optimisations and designs. The pit model
used proved and probable reserves of 1.094Mt at 0.21% (Mo) and 0.62% (W).
Recently it was decided to revise the pit model to take into account the updated
2007 resource. When this is completed revised feasibility numbers will be
published .
Engineering
Detailed engineering work was awarded to contractors, but is currently suspended
subject to financing of the project and the sale of product. The contractor has
completed work on detailed layouts and requests for tenders for equipment and
long lead items, particularly for the supply of the grinding mill.
Recommendations on the grinding mills and wet screens have been received, along
with an assessment of responses from reagent suppliers.
Mill procurement is the primary item on the critical path for the project
schedule. A master control schedule and project execution plan has been
established. These systems will allow an efficient and orderly ramp up to full
construction in due course.
Marketing
Consultants were retained to promote and market the products which lead to a
Memorandum of Understanding ('MOU') being signed with a Chinese group.
Unfortunately in April that group advised that they did not wish to proceed
further.
Several other parties have now expressed interested in the product, and as a
result of the new resource, negotiations are proceeding.
Thor expects to be able to complete off-take negotiations shortly.
Purchase of selected plant
During the year Thor secured key items of plant and equipment for the proposed
development which, when incorporated into the design of the processing plant,
should result in savings in construction time and cost.
The revised feasibility numbers will take into account the savings.
Metallurgical
As part of the feasibility, metallurgical test work was undertaken and resultant
process flow sheet was incorporated into the economic and technical assessment.
The studies indicated that a saleable concentrate could be produced.
Subsequently additional metallurgical tests to further optimise the flotation
conditions and concentrate grade and recoveries has been completed by
independent consultants.
Primary Molybdenum Concentrate assayed 51.4% Mo with a recovery of 77.8% and
Primary Tungsten Concentrate assayed 72.9% WO3 with a recovery of 65.4% and
these have now been established as the base to produce a saleable concentrate.
Notice of Intent
The Notice of Intent has been submitted to the relevant authorities for review
and comment. The subsequent Public Environmental Review ('PER') period has now
concluded and a positive decision from the Northern Territories Minister for
Mines is expected shortly.
No environmental or heritage concerns have been identified that cannot be
managed within an Environmental Management Plan.
Negotiation of Mining Agreement
A development review committee was formed for the negotiations with the Central
Land Council ('CLC') with the aim to complete a mining agreement. A final
meeting with the Traditional Owners was held on site during March, resulting in
agreement on the proposed mining infrastructure.
The Native Title Mining agreement has now been finalised.
Resource Update
Final results from the recently completed resource drilling program at Molyhil
were received in July 2007 and incorporated into the new resource model, which
was completed by independent geological consultants.
The updated resource represents a 55% increase in overall tonnage to 3.73
million tonnes at 0.51% combined tungsten (WO3) and molybdenum (MoS2) with a
substantial tonnage upgrade to the measured and indicated categories -
increasing the overall level of confidence in the resource. The revised resource
now comprises:
Measured resource of 530,000 tonnes at 0.42% WO3 and 0.27% MoS2, a 43%
tonnage increase over the previous measured resource;
Indicated resource of 2.4 million tonnes at 0.39% WO3 and 0.17% MoS2,
a 37% increase over the previous indicated resource; and
Inferred resource of 800,000 tonnes at 0.15% WO3 and 0.1% MoS2, more
than three times higher than the previous resource.
The resource model now contains 8.4 million pounds of molybdenum metal and 1.3
million mtu's of tungsten, representing a similar metal content to the previous
resource but at a higher JORC resource category following the conversion of a
significant tonnage from the indicated to measured category. This increases the
overall confidence in the upper parts of the block model. This is a positive
result which should translate to increased confidence in the mining reserve.
During the year two programs of Reverse Circulation ('RC') drilling were
successful in identifying extensions to the Southern and Yacht Club ore zones as
well as increasing the overall confidence of the existing resource. Three extra
holes were completed beneath the Yacht Club and Southern ore bodies as a result
of encouraging geology. A total of 35 holes were completed for 4,624m. The first
program also included geotechnical and hydro geological studies over areas
designated for future mine development infrastructure.
All of these results have now been incorporated into the revised resource model.
HATCHES CREEK
Hatches Creek Project is made up of three Exploration Licences one of which is
granted and two still under application which are located in the central portion
of the Northern Territory. The Exploration Licence Applications cover 63 km2
which fall within the Anurrete Aboriginal Land Trust under the provisions of the
Aboriginal Land Right Act (NT) Act 1976.
After lengthy negotiations an agreement was signed for Exploration Licence
Applications with the traditional owners and Thor is now waiting on the grant of
these tenements before initiating ground exploration.
URANIUM EXPLORATION
Uranium exploration has begun with reconnaissance work at Harts Range and a
major Hoist EM survey at Hale River and Plenty Highway Projects completed.
Reverse circulation drilling was also completed at Hale River.
Initial reconnaissance work at Harts Range returned assays as high as 31% U,
whilst interpretation of the survey is well advanced.
Harts Range Reconnaissance
The Harts Range Project is located about 150kms east-northeast of Alice Springs.
Reconnaissance sampling of the Harts Range tenement area was completed during
October and November 2006, with several areas traversed. The main objective of
the sampling program was to identify known prospects and determine optimal
access routes and logistics for follow-up exploration. The project includes six
tenements.
In the October program eleven rock chips were taken on two out of the six
granted tenements. Analysis was completed for 39 elements.
Five samples were taken at the Ryoma and Casper prospects, with results
confirming the prospectivity of this area returning elevated uranium values
ranging from 121ppm to 227ppm U. Results were also elevated in rare earth
elements ('REE') such as Yittrium and Zirconium. Sample HR8 also returned up to
1.62% Pb.
The results included a single sample result of 31.6% U. This hand-picked sample
contained a significant portion of visible uraninite. Significantly, a number of
large pegmatite bodies are located within the Harts Range project.
Work to date in the Harts Range Project indicates that sporadic high uranium
grades occur along NW trending structural corridors, suggesting a vein-type
model for mineralisation such as that at Schwartzwalder in Colorado (USA).
Mineralisation here occurs in numerous lenses associated with a major shear
fault network and along contacts between mica schist and gneissic rocks
Harts Range - Scintillometer Survey
In late November, a scintillometer orientation survey and ground reconnaissance
work was completed over three tenements, with scintillometer readings taken at
various locations including several prospects with historic uranium exploration
results. In total, fourteen samples were collected.
A number of samples returned significant results of >0.10% U, all of which have
a very strong REE association. One particular sample from an area near the
Haddock Prospect was high in uranium (8.87% U), tantalum (19%) and niobium
(18%), suggests that the sample contained coarse tantalite crystals. Two
significant results of 0.17% U and 0.26% U were also returned from the Garnet
prospect. Previous mapping in this area in 1993 determined that the strongest
radioactivity occurs where the pegmatite has been more extensively altered to
garnet. Historic PNC assays at this prospect ranged between 18-2,900ppm U,
100-4,000ppm Y and 100-2,600ppm Nb.
Further reconnaissance rock chip sampling and mapping was completed on the
Daicos, Haddock, Mount Mary (Snaf & Indiana) and Starlight prospects in early
July. A total of 39 rock chip samples were collected, all assays are still
outstanding. Approximately 12 km of prospective strike length has been
identified representing potential host extensions or repetitions of
epidosite-pegmatoid layers.
Regional exploration resulted in the identification of a single pegmatite some
6.3km in length and 50m wide at Mt Mary. Two rock chips taken from 'hot spots'
in this area returned elevated uranium values ranging from 107 to 246ppm. A
second pegmatite, which also has an extensive strike of 2km and an average width
of 63m has been identified to the north-east. This requires further
investigation.
Ongoing exploration will also cover the Snaf and Kelly Prospects, located to the
north and south of Mt Mary. Historic rock chip sampling by PNC at these
prospects returned very high-grade uranium assays ranging from 550-1,580 ppm U.
Bundey River Project
Three radiometric anomalies have been identified in the eastern part of the
Bundey River Project area from airborne radiometric survey.
Reconnaissance exploration was completed along the eastern portion of the Bundey
River tenement; two samples were taken from this area with disappointing uranium
results. While no calcrete samples were able to be taken, a consistently high
scintillometer count was taken over the main drainage channel. Sampling returned
an anomalous thorium value in exposed lateritic remnants, confirming the
potential for tertiary basin and drainage hosted uranium.
Hale River Project
The first and second phases of a comprehensive uranium exploration program at
Hale River have been completed.
The first phase of the program comprised a helicopter borne Hoist EM survey
covering the Company's Hale River and Plenty Highway tenements, which cover some
1,200 sq km of tertiary basin sediments.
The Hale River data has indicated a complex south easterly striking channel
structure. Zones of conductive and resistive sediments (indicating reducing and
oxidizing environments) have been interpreted within the main and subsidiary
palaeo-channels within the model. The revised modelling has also incorporated
previous exploration drilling that has already identified anomalous areas of '
roll front style' uranium mineralisation.
Reconnaissance aircore drilling at the Hale River Highway and BundeyaUranium
Project has been completed with a total of 28 holes completed to date for
1,549m.
The Hoist EM survey was a technical success and identified numerous potential '
trap sites' or conductive sediments within the Hale River palaeo drainage
system. Drilling indicated that the modelled depth to basement was essentially
correct and that the conductive horizons identified in the Hoist EM survey were
associated with carbonaceous sediments, pyritic sands and lignite horizons and
was not due to saline/hyper saline ground water. The drilling was difficult due
to running sands and clay layers and high water flows.
Five of the six priority anomalies identified were tested with at least one hole
to check the ground conditions however the most prospective Hoist EM trap site
with coincident surface radiometric anomaly on the eastern side of the tenement
could not be drilled due to access restrictions imposed by the Central Land
Council.
Anomalous scintillometer readings several times background were associated with
pyritic sands, carbonaceous clays and lignite. A number of samples returned
assays between than 20 and 100ppm U, these are considered anomalous and
correlated well when compared to results from similar lignite horizons
identified in the Hale River Basin by Alcoa in the 1980's.
Existing anomalies need further drill testing and work to date has confirmed the
presence of suitable 'trap sites' for roll front style Uranium mineralization.
Plenty Highway Project
A final report and interpretation of the Hoist EM data has been provided by
Thor's consultants. Two highly prospective areas have been identified at
junctions within a large palaeo - channel drainage system containing abundant
conductive sedimentary units.
Drilling can begin pending CLC approvals. Approximately 5,000m of drilling will
be required. Minimal previous exploration has been carried out on the tenement.
CORPORATE
Capital Raising and Listing on ASX
In 2006 Thor received shareholder approval to proceed with the acquisition of
Hale Energy Ltd. Shareholder approval was also received for a 1-for-3 capital
consolidation and an issue to existing shareholders of one warrant for every two
post-consolidation shares held ahead of the dual listing of Thor's shares on the
Australian Stock Exchange ('ASX').
The consideration for the acquisition of Hale Energy was the issue of 16 million
fully-paid shares and 8.5 million warrants.
Thor closed its A$10.0 million fund raising fully subscribed ahead of the dual
listing of its shares on the ASX in September 2006.
The successful completion of the fund raising and dual listing marked an
important milestone for Thor.
During July 2007 a placement of 6,800,000 shares at 11 pence per share was
completed on the AIM Market of the London Stock Exchange. The Company's total
issued share capital is now 139,659,508 shares.
The funds raised, approximating A$1.7m after costs, will be used to supplement
short term working capital requirements and to provide additional finance for
the development of Molyhil.
Thor Mining PLC
Executive Chairman's Operating and Financial Review
Site Environmental Policy Occupational Health And Safety Policy
Molyhil Mine Site is committed to protection and Thor Mining PLC is fully committed to the
management of the environment in a responsible manner establishment and maintenance of a safe and healthy
during the currency of its operation. The objective of work environment for all employees without
management at the site is to minimise adverse impacts compromising employee job productivity.
on the environment from planning through development,
mining, production and to decommissioning.
Thor Mining PLC recognises that the duty of care is
the over arching principle for this Policy.
To achieve this, Molyhil Mine will:
Thor Mining PLC is committed to providing a safe
Comply with all Northern Territory laws, working environment for all employees.
regulations and standards or other applicable Federal
legislation;
Develop, implement and maintain a Company and Employee Commitment:
comprehensive Environmental Management System;
Work environment and conditions for
Promote environmental awareness among the employees are above those proscribed by relevant laws
workforce to increase understanding of environmental and statutory regulations.
responsibilities and to develop a 'stakeholder'
interest in the work force for improved environmental
protection and management;
The Company will educate all employees in
best and safe work practices in their working
environment to ensure that they are not exposed to any
Utilise leading practice environmental unnecessary health and safety risk.
management procedures in operating and rehabilitation
programs;
All employees will support, implement and
adhere to the Company Occupational, Health and Safety
Monitor performance of site discharges at a Programme.
frequency higher than required by regulations and
licences and provide safeguards and contingency plans
to detect and prevent any potential adverse impacts;
Develop and train an environmental emergency
response team for damage control and rehabilitation at
sites where an inadvertent spillage of potentially
polluting material has occurred
At the required frequency, report
environmental performance to government
Regularly check environmental management
performance of Company and contractor operations by
internal and external auditing
Require the site employees, contractors and
other third parties to exceed or as a minimum conform
with the site standards and procedures for
environmental management
Minimise waste and maximise the use of
re-cycling programs to reduce exploitation of resources
Rehabilitate to current standards or exceed
the standards required by government so that the site
can be returned to rangelands grazing
At closure, leave the site in a clean, safe,
stable and erosion-free condition.
Thor Mining PLC
Executive Chairman's Operating and Financial Review
Corporate Environmental Policy Indigenous People's Policy
Thor Mining PLC identifies environmental management Thor Mining PLC wishes to establish and maintain a good
as essential to its own future. The company considers working relationship with Indigenous People who may be
that sound environmental management benefits all affected by the Company's operations. To achieve this
stakeholders, including shareholders, employees, it is Thor's policy to:
nearby residents and the broader community.
Respect the culture and heritage of
Thor Mining PLC regards environmental care as an Indigenous People affected by the Company's operations.
integral part of its business, and is committed to
excellence in the management of environmental
matters. Thor Mining PLC aims to minimise
environmental impacts at every stage of work, from Undertake appropriate heritage surveys to
planning through exploration, development, mining, ensure that sites of cultural heritage to Indigenous
production and decommissioning. People are not inadvertently damaged by the Company's
operations.
The objectives of the company's commitment to
environmental management are to: Regularly consult with relevant Indigenous
People to ensure that they are kept informed of the
Company's activities and that their concerns are
considered in the design and management of the
Comply with all environmental legislation, Company's activities.
licences and regulations.
Promote cross-cultural awareness.
Develop, implement and maintain a
comprehensive Environmental Management System.
Whenever feasible, provide employment and
training for Indigenous People affected by the
Recognise conservation and heritage values. Company's operations.
Identify, manage and monitor potential The Company can not guarantee a successful
environmental impacts, striving to comply with exploration outcome that will benefit all stakeholders
international leading practice. (Indigenous People, landowners, the Company and its
shareholders and the community at large), but in the
event of an economic discovery the Company will engage
in open negotiations with Traditional Owners to
Rehabilitate disturbed land surfaces. complete an agreement on the development of the
discovery to the satisfaction and benefit of all
parties.
Review and evaluate environmental
performance.
Seek continuous improvement in exploration,
mining, waste management and the use of resources.
Promote cross-cultural awareness, and
wherever possible, protect sites of cultural
significance.
Have timely and effective communications
with landowners, relevant indigenous people and
others who may be directly affected by company
operations.
Communicate regularly with employees,
suppliers, contractors and customers about the aims
of the Corporate Environmental Policy and the
responsibilities implied.
Provide information to the community, share
holders and government authorities about the
company's environmental performance.
Consolidated Income Statement for the year ended 30 June 2007
Consolidated Company
Note 2007 2006 2007 2006
'000 '000 '000 '000
Administrative expenses (323) (137) (84) (10)
Corporate expenses (1,190) (568) (1,066) (432)
Other expenses - (19) - -
Operating loss 3 (1,513) (724) (1,150) (442)
Interest receivable 4 126 33 - -
Other income 4 - 7 - -
Loss before tax (1,387) (684) (1,150) (442)
Tax on loss on ordinary activities 6 - - - -
Loss for the financial year (1,387) (684) (1,150) (442)
Loss per share - basic 7 (1.27)p (1.13)p
Continuing operations
All items relate to continuing operations
Balance Sheets
At 30 June 2007
Note Consolidated Consolidated Company Company
2007 2006 2007 2006
'000 '000 '000 '000
ASSETS
Non-current assets
Intangible assets 8 4,191 1,445 - -
Investments 9 - - 1,977 700
Loan to subsidiaries 10 - - 4,636 1,100
Exploration costs 11 726 - - -
Plant and equipment 12 95 9 1 -
Total non-current assets 5,012 1,454 6,614 1,800
Current assets
Cash and cash equivalents 1,836 484 155 268
Trade & other receivables 13 96 32 8 12
Prepayments 10 19 9 19
Total current assets 1,942 535 172 299
Total assets 6,954 1,989 6,786 2,099
LIABILITIES
Current liabilities
Trade and other payables 14 (181) (88) (43) (13)
Provisions 15 (9) - - -
Interest bearing liabilities 16 (11) - - -
Total current liabilities (201) (88) (43) (13)
Non-current liabilities
Interest bearing liabilities 16 (60) - - -
Total non-current liabilities (60) - - -
Total liabilities (261) (88) (43) (13)
Net assets 6,693 1,901 6,743 2,086
EQUITY
Issued share capital 17 399 192 399 192
Share premium 18 5,616 1,928 5,616 1,928
Foreign exchange reserve 19 431 59 - -
Merger reserve 20 1,634 405 1,634 405
Option revaluation reserve 21 783 100 783 100
Retained losses 22 (2,170) (783) (1,689) (539)
Total equity 6,693 1,901 6,743 2,086
These Financial Statements were approved by the Board of Directors on 21 August
2007 and were signed on its behalf by:
John W Barr - Executive Chairman
John A Young - Chief Executive
Consolidated Cash Flow Statement for the year ended 30 June 2007
2007 2006
'000 '000
Cash flows from operating activities
Operating Loss (1,387) (684)
(Increase)/decrease in trade and other receivables (56) 28
Increase in trade and other payables 22 81
Depreciation 29 3
Share options expensed 683 100
Unrealised exchange gain 372 36
Net cash outflow from operating activities (337) (436)
Cash flows from investing activities
Purchase of property, plant and equipment (38) (12)
Payments for mine development expenditure (727) -
Payments for exploration expenditure (1,389) (760)
Net cash outflow from investing activities (2,154) (772)
Cash flows from financing activities
Repayment of borrowings (5) -
Issue of ordinary share capital 4,209 300
Share issue costs (361) (112)
Net cash inflow from financing activities 3,843 188
Net increase/(decrease) in cash and cash equivalents 1,352 (1,020)
Cash and cash equivalents at beginning of period 484 1,504
Cash and cash equivalents at end of period 1,836 484
Analysis of changes in net debt
At 1 July 2006 Cash flows Non-cash changes 30 June 2007
'000 '000 '000 '000
Cash at bank and in hand 484 1,352 - 1,836
Statements of Changes in Equity
For the year ended 30 June 2007
Foreign
Issued Share Share Retained Currency Merger Option Total
Capital Premium Earnings Translation Reserve Reserve
Reserves
'000 '000 '000 '000 '000 '000 '000
Consolidated
At 1 July 2005 182 1,750 (99) 23 405 - 2,261
Loss for the period - - (684) - - - (684)
Foreign currency
translation reserve - - - 36 - - 36
Total recognised income
and expense - - (684) 36 - - (648)
Share based payments
expense - - - - - 100 100
Share issued 10 178 - - - - 188
At 30 June 2006 192 1,928 (783) 59 405 100 1,901
At 1 July 2006 192 1,928 (783) 59 405 100 1,901
Loss for the period - - (1,387) - - - (1,387)
Foreign currency
translation reserve - - - 372 - - 372
Total recognised income
and expense - - (1,387) 372 - - (956)
Share based payments
expense - - - - - 683 683
Shares issued 207 3,688 - - 1,229 - 5,124
At 30 June 2007 399 5,616 (2,170) 431 1,634 783 6,693
Company
At 1 July 2005 182 1,750 (97) - 405 - 2,240
Loss for the period - - (442) - - - (442)
Total recognised income - - (442) - - - (442)
and expense
Share based payments - - - - - 100 100
expense
Share issued 10 178 - - - - 188
At 30 June 2006 192 1,928 (539) - 405 100 2,086
At 1 July 2006 192 1,928 (539) - 405 100 2,086
Loss for the period - - (1,150) - - - (1,150)
Total recognised income - - (1,150) - - - (1,150)
and expense
Share based payments - - - - - 683 683
expense
Share issued 207 3,688 - - 1,229 - 5,124
At 30 June 2007 399 5,616 (1,689) - 1,634 783 6,743
Notes to the Financial Statements for the period year to 30 June 2007
1. The Directors are not recommending the payment of an
ordinary share dividend.
2. Loss per share on the net basis is calculated on a loss on
ordinary activities after taxation of 1,387,000 (2006:684,000) and on
114,014,198 (2006: 60,795,776) ordinary shares being the weighted average number
of shares in issue and ranking for dividend during the period. No diluted loss
per share is presented as the effect of exercise of outstanding options is to
decrease the loss per share. Prior period comparatives have been restated to
reflect the impact of the 1:3 share consolidation in September 2006.
3. The financial information set out in the final results does
not constitute statutory accounts as defined in section 240 of the Companies Act
1985.
Results for the period ended 30 June 2007 are abridged from the 2007 Annual
Report and Accounts, which received an unqualified auditor's report and will be
filed with the Registrar of Companies following the Annual General Meeting on 20
November 2007.
4. The Annual Report will be posted to shareholders on 13 September 2007.
Further copies will be available from the Company's registered office: 3rd
Floor, 55 Gower Street, London WC1E 6HQ.
5. The Annual General Meeting of the Company will be held at the Wyndham
London Hotel, Chelsea Harbour, London SW10 0XG England, on Tuesday 20 November
2007 at 11.00 a.m.
robertalexander
- 12 Sep 2007 19:55
- 71 of 100
Although Thor Mining FY pretax loss widens, the info given in the annual report gives me further strength to continue to hold.
Any one spot anything untoward in there that i have missed?
I have their warrants so will hold until sep 09 and make a decision then if not sooner.
Alex
steveo
- 13 Sep 2007 08:25
- 72 of 100
Looks promising to me, another MOU and placing for funds to develop the site and we should be in business. MOU should see some upside in the share price, back to 17p???
oilyrag
- 24 Sep 2007 13:41
- 73 of 100
Now that the exercise of options is out of the way at a nice price for those involved, can we now get on with making some money. This should go northbound from here, hopefully quite quickly.
robertalexander
- 02 Oct 2007 20:13
- 74 of 100
warrants up 50% today hope this is the start of an upward trend
Alex
robertalexander
- 18 Jan 2008 10:46
- 75 of 100
whats going on??[rhetorical ?]
could do with some news to shake these up.
Still holding on to some warrants. Have written these off to bad luck but you never know still a year and a bit until i have to decide what to do with them.
Anyone else still in ?
Alex
robertalexander
- 13 Feb 2008 15:07
- 76 of 100
oily, you still in?
Alex
oilyrag
- 13 Feb 2008 19:38
- 77 of 100
No not at the moment, took profits a few months ago when they announced that they had no take offs for their products. It is always on my watchlist as I believe that as soon as they announce a buyer or supply contract, the SP should rise considerably. I don't mind losing a little profit on this one by not tying my money up too long. Good luck all.
robertalexander
- 28 Feb 2008 08:09
- 78 of 100
results out
http://moneyam.uk-wire.com/cgi-bin/articles/200802280700419002O.html
oilyrag
- 12 Mar 2008 08:56
- 79 of 100
Take off announced by chinese, I'm back in at 7.5p, and in profit already.
robertalexander
- 12 Mar 2008 14:23
- 80 of 100
still holding but a long way for profit i fear
NabCom
- 12 Mar 2008 17:12
- 81 of 100
Thor soars on Molyhil off-take deal

LONDON (SHARECAST) - Thor Mining gained a third of its value today on news it has signed an off-take agreement with CITIC Australia Commodity Trading for its Molyhil tungsten-molybdenum project in the northern territory of Australia.
http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=1976297
oilyrag
- 01 May 2008 16:12
- 82 of 100
Western Desert paid A$0.20 cents per share, thats 8p each, for a 16.7% stake.
share trader
- 17 Aug 2008 16:28
- 83 of 100
oilyrag
- 15 Sep 2009 09:07
- 84 of 100
This one starting to move again.
Possibley start production very soon once funding sorted.
chessplayer
- 08 Dec 2010 08:22
- 85 of 100
This little tungsten miner is up more than 3 times in a few months Anybody know why?
FONTY
- 09 Dec 2010 00:38
- 86 of 100
I am still holding and they have doubled over the last couple of weeks - a staggering volume - anybody in?
Balerboy
- 09 Dec 2010 08:33
- 87 of 100
Have joined you with a small punt this morning fonty, also CNR the same amount.
moneyplus
- 09 Dec 2010 12:16
- 88 of 100
I hold and am very pleased. Only bought last week and it shot up on the asx last night so hopefully good news to come. good luck!
moneyplus
- 09 Dec 2010 12:27
- 89 of 100
I also hold cnr and that has great potential as it's silver assets are largely overlooked so I hope to see 40p or more on that one long term much higher. I also have kefi hoping for some good news soon and my star is agq which I'm holding long term as all the signs are that silver is going to rocket next year. sorry o/t but thought you might be interested as it's quiet here.
chessplayer
- 09 Dec 2010 13:12
- 90 of 100
Silver ratio to gold is now less than 50 :1 v gold and coming down.The word on the street says that there had been manipulation to keep it artificially high.
moneyman
- 08 Mar 2011 22:58
- 91 of 100
News out on the ASX tonight
http://www.asx.com.au/asxpdf/20110309/pdf/41xb2y2mh6hspg.pdf
chessplayer
- 07 Apr 2011 09:24
- 93 of 100
Anybody interested in buying in should take this opportunity, down 1/3 from recent highs.
Ballykelly
- 29 Feb 2012 00:24
- 94 of 100
Rumour circulating the city is thor mining have approved financial backing from a Chinese consortium.
Ballykelly
- 29 Feb 2012 15:15
- 95 of 100
MICK BILLING VISITS SHANGDONG
http://www.cityache.com:8080/showItem/showDetail/12146683.html
Shandong net worth of 39.62 billion over the mainland's richest man, Forbes ...
halifax
- 29 Feb 2012 16:25
- 96 of 100
what a load of bollocks!
FONTY
- 11 Apr 2012 01:26
- 97 of 100
Anyway back to Thor. I am glad I am still holding a shed load
sutherlh1
- 11 Apr 2012 10:15
- 99 of 100
Where to sell these, at 2.6 -2.8p? I too have a lot, now on 15 percent gain. H
js8106455
- 23 May 2013 09:39
- 100 of 100
Listent to Mick Billing, Executive Chairman, Thor Mining giving a company update.
Webcast