drbubb Posted April 2, 2006 Report Share Posted April 2, 2006 COMPANY== Symbol : Paid- : NAV , 12moRange ShsOS MarketCap Thor Mining... (THR.L): 3.60p : 1.20p , 2.38 - 4.50, 186.67 Pd.7.00mn Daily Chart ... update: daily-12mos : daily-6mos : compare-w/ BLE & ROK "Thor is a mineral exploration and development company focused on advancing tungsten and molybdenum projects in the Northern Territory of Australia" - says THR's website. Per Minesite: "Resource statement for its main asset, the Molyhil molybdenum-tungsten project in Australia’s Northern Territory... at Molyhil now stands as follows: 2.4 million tonnes grading 0.80% combined tungsten, as trioxide, and molybdenum, as disulphide... The next key steps forward for Thor will be the receipt of metallurgical test results, which is expected in March, and the start of serious mine planning. This could lead towards first production at Molyhil in 2007, probably at an ore throughput rate of around 300,000tonnes/year." Major shareholders/ THR: Tennant Creek Gold Limited............ 45,000,000 24.8% RAB Special Situations Master Fund 40,000,000 22.0% City Equities .................................. 10,000,00 5.5% Regency Mines PLC......................... 8,200,000 4.5% Smyth Superannuation Fund........... 4,150,000 2.3% Alpha Capital Inc............................. 4,150,000 2.3% Others 80,175,000 44.1% Comment: THR hasn't moved much since it was listed last summer at 2.75p, in a very dull market. The stock is mostly in the hands of a few funds and insiders (see above), and there has been limited promotional efforts thus far. This may be set to change, since THR should have metallurical test results any day. After that, they are likely to announce a mining plan. From conversations with management some months ago, the cash flows on their combined Moly-Tungsten project are expected to be very robust. A movement towards mining production as early as 2007 could be expected to light a fire beneath these shares. The current price is a tiny P/E to expected profits from mining. Moly plays are very much in favor in Canada now. See: comparisons with : ROKvs.THR and ???vs.THR . At the current market cap, you are getting Thor at a small multiple to expected future profits. (Note: I have invested in other Moly plays like ROK.v and CYA.v, and I am up over 100% on those investments. I am not taking profits yet, but I wanted to get an exposure to THR.L roll before the news on a mining decision was released. I am also watching THR's top shareholder TNG.au for a buying opportunity.) = = = = = LINKS: Corporate website : http://www.thormining.com/ Advfn thread/ THR: http://www.advfn.com/cmn/fbb/thread.php3?id=9337318 Minesite article.....: http://www.minesite.com/storyFull5.php?storySeq=3298 Link to comment Share on other sites More sharing options...
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