facts being dissected

im not going to go on about what we already heard in so many different posts- the resource will speak for itself in due time so there is really no need for me to act like a ramper - the long termers know my position and that my 4 million is staying where they are- none will be going on market at all - just a few points of interests on the raw facts that havnt been as much mentioned or picked up on from previous announcements -

1- reading between the lines - ok so we have been told on numerous announcements that jv/offtake negotiations are continuing and will be revealed once announced. Now reading into it what you may- from their website of interest -


Marketing and off-take Agreement
Thor negotiated an off take agreement with CITIC Australia Trading Limited (”CITIC”), which has now lapsed. The CITIC Group is one of China’s largest state owned companies. The off-take agreement committed CITIC to take 100% of the Molybdenum and Tungsten concentrates to be produced from the Molyhil project.

Efforts to establish a replacement agreement will be made as metal prices improve.

Correct me if I am wrong, but metal prices for Tungsten and Molybdenum have improved at an incredible rate- so could CITIC be our mysterious party in negotiations with Mike Billing?

2- Obvious enough in yesterdays quartely was that further cash would be required in the medium term due to delays in our dfs - just of note keep in mind that their is a little more cash than $510,000 than stipulated in our Appendix 5b

- Point 9 of Interest -
An extra $236,781 was banked to our credit after the quarter due to receipts of options being converted through

4,946,174 on the ASX @ 0.02625c + 4,583,127 on the AIM @ 1.5 pence

with this in mind, our current cash is actually $746,781

Note a huge difference, but still better than reported -

3- Molyil facts remain that it will be developed-it is a valuable resource and also that the economics of this mine is proving more and more profitable for Thor - What some may not have picked up on, whilst watching it getting sold down daily fluctuations is the real story behind molyhil -

-Quartely has revealed that resource growth is being pusued at Molyhil through exploration of the granted licences -

EL 22349
EL 28948
EL 28949


Further to this, the quartely has gone on to state that further drilling will be done of identified areas of potential resource growth - remarkable is that there are 13 exploration targets already identified-

Remarkable is that I cant remember seeing anywhere about Thor increasing their landholding around Molyhil except for the insert in our latest Quartely- Before anyway plays this off as being insignificant and old news, I would say that a lot is going on behind the scenes as they go on to say that an evaluation of the 13 identified targets has commenced-

So as much as I am dissapointed that their hasnt been more presented to the market about our increased tenement grants in the area, it does show signifcant confidence for resoource growth with Thor Mining only of acquiring these additionional tenements on the 29/02/2012 - and proof is listed on the below link that it did all indeed happen in the last quarter - ( that being the acquisition of both the Midnight Creek Prospect EL 28948 + the Jervoise Prospect EL 28949)

http://www.nt.gov.au/d/orestruck/index.cfm?header=NT%20Investment%20Alert

Call me upbeat, but I doubt that the boys at THR would be getting their hands on more land holding in the area unless they truly saw great resource growth potential into these surrounding tenements that coud infact prove the resource extends beyind its current drilling to date -

Sidenote, last time i mentioned that we only have 280M shares listed on our exchange, I was shot down as being wrong and infact was told that their were 700M listed- Not trying to play the " I told you so game" but this quartely was brilliant in its ability to clearly state the capital structure between the two exchages- that being

AIM- 379,931,300 LISTED SECURITIES

ASX- 280,922,466 LISTED SECURITIES

ASX- 40,000,000 LISTED IN ESCROW TILL 2/8/2012

Just goes to prove why hot copper has our market cap listed below $8Million due to only a short supply of shares listed on our exchange as I had previously explained- the positive is once this moves, it can really move with not a lot of shares on issue on our exchange when you take out the % held by the TOP20 -

Happy days ahead imho even though short term, its been under selling pressure from the impatient -


http://www.thormining.com/asx_announcements_2011_2012.htm