open offer..., page-3

Cynicism is good...
Cash is good also & without it Thor are indeed going nowhere. Is this a desperate act by management who are running out of options? Or a real attempt by management to get Thor into production?

They want to raise A$3 million, how long will A$3 million last Thor? 12 months? 18 months? Is this a modest cash raise because they recognise the current difficult market conditions or because they feel they only need a(nother) short term fix?
A$0.5 million of that is needed to be spent on Dundas to get us to 80% equity.

We have 5 directors & a cfo contributing 22.5 million in aggregate, A$150k, is this a token gesture or do these guys really believe in Thor?

With things as they are to raise even this modest amount is going to be difficult, what happens if they fall short?

The only way I can see this raise succeeding is if Thor come out with 1 or several of the following prior to April ;
- Sizable increase in Spring Hill resource
- New discovery at targets near Spring Hill
- A move into production at Spring Hill
- Sizable increase in Molyhil resource
- T/O agreement for Molyhil
- ‘Nova’ like promise of gold/copper/nickel at Dundas
- A positive black swan event?
- The new pope personally endorses Thor mining & promises unlimited catholic funding...

The Thor marketing machine had better be in good order..maybe they should talk with SIR's marketing team?

Gla
MT (holding on tight with eyes closed & fingers crossed)