I get the feeling that there are a lot of people waiting for a good entry point to get in, or back in at the moment. There will be quite a few sitting on some tidy profits from the last upward surge....and we can be almost certain that another pre DFS surge isn't far away.
Only thing different from last time is increased drilling prospects from new tenements around Molyhil and the bringing forward of the deep 'Callie' style drilling which could be a massive company maker. Not to forget the metallurgical test work underway for Spring Hill.
Yes, there is a chance of a CR before the DFS, but even if that eventuates it’s hardly the end of the world. It is an unavoidable risk that all small explorers face, one which has already been more than priced in.
Speaking of people not knowing shirt about the company they’ve invested in…..
The following is the ‘Public Environmental Report’ for Molyhil from about 5 years ago. It has a lot of great information about Molyhil, probably more information than any normal person would want to know. It shows how anal the expectations on a company are when compiling a serious report about starting a mine. Considering all the vast improvements that have been made since this report was released, it is easy to see how the DFS could overrun its expected release date. Especially if a lot of the plans and parameters in the report were expected to be used but then found to be improvable.
KEEP IN MIND THIS REPORT IS OLD AND MANY IMPROVEMENTS HAVE BEEN MADE SINCE ITS RELEASE. (resource size, recovery, life of mine, cost savings etc.)
http://www.nretas.nt.gov.au/__data/assets/pdf_file/0005/19940/main.pdf
(Note - High Tungsten grades found east of Molyhil defined resource in bore hole TMCR39 – possibility of separate Tungsten resources within tenement)
A little bit about the new tenements:
Jervois Rd and Midnight Creek are directly east of Molyhil in a highly prospective, mineral rich area. The area has been known to hold Tungsten, Molybdenum, Gold, Silver and base metals such as Copper, Lead and Zinc.
Minerals were first found there in the 1920’s, in recent times the only significant production at Jervois occurred in 1983, when Plenty River Mining open pit mined 44,000 tonnes grading 8% lead, 2.5% zinc, 160 g/t silver and1.5% copper until collapsing metals prices forced the closure of the mine.
More recently, on tenements next to Thor’s, Kentor Gold has just finished a scoping study and will proceed to a feasibility study for a multi commodity mine (Gold, Copper, Lead, Silver, Magnetite).
http://www.asx.com.au/asxpdf/20120403/pdf/425f1xhvqw0tf6.pdf
This all bodes well for the future prospects of Thor’s Molyhil, Jervois Rd and Midnight Creek tenements.
It’s only a matter of time before this is reflected in the share price.
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