spring hill valuation - please discuss..., page-2

Without the money to develop Springhill it is of little value to Thor shareholders. The latest "ambition" is to conduct a feasibility study on the Springhill asset. So this means a budget of say $0.5 M and 6 to 12 months. This study is not bankable. This merely provides boundaries around costs and potential return on invetsment to establish if it makes sense to develop the project further. The next step is the major development spend. This creates the detailed commercial framework required to raise finance for the project. Probably > $1M and another 12 months. The problem with Thor is that investors believed that the Molyhill DFS would provide the bankable framework to finance the tungsten project; it did not. It was not properly managed and now they are scrambling to raise funds to go back and do further drilling etc to extend project life in the hope that this will enhance the economics to secure offtake. Solve Molyhill and generate revenue. Then Springhill, Dundas and the shareholders will be rewarded.