funding facility, page-14

guys no offence - and dont call me a downramper coz the long terms will now im heavily invested in this company and trusted and believed in the dream but i by no means consider this as good as it gets

i hear some saying that its phenominal news quoting that having been given the funds that the person lending has faith and this is a very good sign for thor mining and the future ambitions- low and below this is buisness and not wanting to put a dampner on this announcement, the person lending sees thor purely as a client- ie revenue

this coy is charging thor 7% per annum for borrowing the funds - they have obviously done their own valtuations and homework and comprehend that should thor be liquated and assets sold, that the sum of their projects would in fact be able to be sold in excess of $1 million to recover their losses - its not the worst news but with that said, its not the miracle we were hoping

$1,000,000 at 7% is $70,000 revenue - simple

sidenote, i wouldnt hold the hope that we could be close to offtake or anything substantial due to the small amount raised, because im been fooled so so many times thinking this whenever they do these such raising - thor mining and mb plain and simple prefer to do small little raising instead of ones that are realistic to run a business over a sustained period -

http://www.stockmarketwire.com/article/4539107/Thor-Mining-accepts-A1m-secured-debt-facility-offer.html

Thor Mining accepts A$1m secured debt facility offer

15 February 2013 | 07:15am

StockMarketWire.com - Thor Mining said it has accepted an offer of a three-year, A$1 million secured debt facility, the funds earmarked for exploration and developent of its tungsten, molybendum and gold projects.

The facility would be available in two equal tranches of A$500,000, the first available to March 31, and the second available until Sept. 30, the company said.

The interest rate applicable to the facility is 7% a year, payable six monthly.

Funds drawn under the facility are principally to be used to fund exploration and development expenditure on Thor's Molyhil Tungsten/Molybdenum Project and the Spring Hill Gold Project, both located in Northern Territory, Australia, and the Company's working capital requirements.