SugardanteCheers for the link. Excellent read.Although the...

Sugardante

Cheers for the link. Excellent read.

Although the report was commissioned by Thor (I like that they say it should be referred to as a "marketing communication" but proceed to place a valuation on it), i am mystified that they use the previous DFS values (which have clearly now been superceded by resource upgrades) to offer a target price.

The write up on the company's projects and prospects is fantastic.

The valuation is amateur and should be taken with a grain of salt.

Obviously I am new to this general discussion on Thor but I can only comment on what's in front of me and those numbers appear incorrect.

I recall seeing a post on here last night from someone who was trying to put together a calculation - haven't seen anything further on it today, but it will be interesting to see what surfaces.

Suffice to say, the next 6 months could be a huge period for Thor shareholders. Although I don't know an exact timetable of exploration on their gold projects, they've got very little cash so there's going to be numerous capital raisings along the way. You can bet your bottom dollar that they've got every grubby broker in town on the phone to them at the moment trying to weasel their way into cheap stock - wouldn't be surprised if Paterson's is at the forefront. What you don't want to see is the company getting bogged down under a mountain of scrip. The directors own a chunk of stock so it's obviously in their best interests to see the share price run.

Again, cheers for the link

Marchello