ok let just clear this up once and for all and be done with it without the " i told you so tags"
ok so who are simple investments? the placement to uk SI simple investments are none other than thor's lead broker- obviously if you look over recent payments made, this is payment to si for the latest placement in which they played a vital role in being lead broker for the company -
THOR MINING PLC Broker Appointment
Dated: 14 January 2011
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the exploration company focussed on gold and base metal projects and advancing tungsten-molybdenum projects in the Northern Territory of Australia, are pleased to announce the appointment of Simple Investments as the sole UK broker to the Company with immediate effect.
and for the critics and those not realy clear about why some are so excited for the impending spring hill drilling program to commence- feast your eyes on the following to understand why there is great confidence that there is more gold than the 274,000 already JORC at Spring Hill
Highlights
· Potentially economic mineralisation extends up to 100 metres below historical resource drilling.
· Good correlation between diamond drill holes & historical reverse circulation gold intersections in the upper levels.
· Continue to drill test extensions to the existing resource.
· Drill test known mineralisation nearby.
· Scoping studies to assess the potential for accelerated mine development.
· Drill test deeper "Callie style" target.
The Spring Hill gold deposit has not been drill-tested at depth greater than 150 metres; in places drilling extends only to 100 metres. Mineralisation remains open at depth on almost all drilling sections. The historic drilling is predominantly reverse circulation.
The 2011 diamond drilling program was designed both to confirm in drill core the mineralisation intersected at relatively shallow depths and contained within the historical resource estimate outline, and also to demonstrate the existence of extensions to greater depths. The program originally designed to be 10 holes was shortened due to adverse drilling conditions and the early onset of the annual wet season which rendered continuation impractical. Six diamond holes were completed for a total of 1,574 metres
The results showed a good correlation with historical reverse circulation drilling intersections, supporting an increased level of confidence in the historical resource estimate and its potential for early development as a profitable mining operation without resource extension.
Additionally intersections of mineralisation below the historical estimated resource confirm the potential identified by the Company for extension of the resource at depth.
Commenting today, Mick Billing, Executive Chairman of Thor Mining said:
"These results provide confidence in the potential for early development of an open pit gold mining operation at Spring Hill, and also reinforces our belief that the resource may be substantially larger than initially estimated. More drilling is scheduled for 2012 along with studies to assess the potential for early commencement of mining operations."
(20min delay)