THR thor energy plc

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Thank you, Black Cat. However, one question remains. Why did you...

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Rubiconis

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29/09/20

14:57

Post #: 47710672
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Originally posted by Black Cat: ↑

Hi Rubiconis In the exploration business advances in the understanding of how and where gold deposits may be located dictate the manner in which you should explore and the terrains where you are going to get the best bang for your buck.

Only five years ago the Pilbara was not considered a very attractive place to prove up a significant gold deposit. Some 150 years of exploration had never produced a gold deposit in the Pilbara similar to all the big discoveries in the Eastern Goldfields.

Then along came the conglomerate gold frenzy with Novo Resources leading the charge based on the theory the Pilbara represented another Witswatersrand similar to South Africa. During that time I and many other companies moved aggressively on areas that had Mt Roe Basalt and Hardey Formation contacts. The Ragged Range tenements we sold to Thor had some of the those rock types but also contained very prospective Euro Basalt - ultramafic settings similar to the GGP discovery abutting both E 46/1262 and E 46/1190.

The mafic -ultramafic gold settings still have a lot of potential and Thor is aggressively pursuing that objective -to try and locate the source of the gold in streams. Hence my comments in that respect.

Now if you did any research you would understand that in the last year or so De Grey have made stunning discoveries in completely NEW geological settings -granite intrusives -in the Mallina Basin - a setting never before witnessed in the Pilbara.

So after 150 years the Pilbara is indeed able to boast the same potential as the Eastern Goldfields and that has been the catalyst for an exploration rush to position in areas with similar Sisters Supersuites or similar geological settings. De Grey now have a multi billion dollar market cap.

Thor have a very exciting project in conventional mafic -ultramafic rock types but all the excitement and the ability to raise significant capital is focussed on granite intrusives and that is why in my opinion Thor should be aggressively expanding its exploration footprint in the Pilbara -not just resting on its laurels with Ragged Range.

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Thank you, Black Cat.

However, one question remains.

Why did you sell, and why do you continue to seek to sell your adjacent holdings? If they are as valuable as is claimed, why then do you sell? Why not develop them yourself. I am trying to understand this dynamic.

Much appreciated.

THR Price at posting: 1.7¢ Sentiment: None Disclosure: Not Held
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