Moderated, page-20

If you haven’t grabbed a coffee and read the report above its interesting what their viewpoint is (even just scroll to conclusion) and how they came to that target price. Appears to be based on copper and tungsten only.

My take is Thor has been keeping “busy” all these years waiting for market conditions to be right for tungsten without going out of business. During this time, they have been busy finding, fail fast, fail cheap projects to capitalise on to buy time and keep the news flow going.

The good news is this strategy has worked in some respect. They still around and retain copper projects of great value/ potential along with a couple speculative opportunities which with further investigation may prove to be of great value (i.e. Gold at Ragged Range).

The issue now is that all the opportunities appear to have some value / urgency given recent market changes (price of Copper, Gold..etc). Investors want them to focus on one or two of them.

I think they should take the next couple months to further consolidate down their opportunities - example , check if there is gold in the Pilbra (drill in June as planned), if results are weak, don't string this out, move on.