Recent loan secured against Spring Hill & Molyhil - NOT Dundas...
Thor holds 60% of Dundas with rights to increase that equity to 100% in two stages: 1. To get to 80% hand over Thor shares to the value of A$2.0 million, after spending A$1.0 million in exploration and development by end September 2012 (Thor has reached agreement with the tenement vendors to extend that period to 31st March 2013. How much have they spent so far?? 2. To get to 100% hand over Thor shares to the value of A$2.0 million, after spending A$1.0 million in exploration and development by end September 2014.
31st March 2013 approaches...
From Thor’s website “In the event that Thor elects not to exercise its rights to acquire additional equity in the project according to the above terms, then a joint venture shall be formed with Thor and the vendor parties contributing according to their respective equity, with normal dilution provisions applying.”
Considering Sirius Resources recent discoveries & their proximity to Thor tenements it would be madness to sell Dundas. Anyone with internet access can see for themselves what Sirius have found & what Thor’s potential is...if i was MB i’d bang on about Sirius & how close we are & how much better our discovery could be...
However Thor needs funds to increase its Dundas equity, enter into a joint venture or get another extension...soon...
Does MB believe, like most of us that Dundas is the prize? After all It’s not secured against loan...
Is our sophisticated investor a prospective partner?
Will Thor get a chance to be the next Sirius resources?
I do my research, read the feely available information, can’t believe Thor is where it is, look at my Thor investment, look at my funds, look between my legs & wish that i had bigger ....
MT
THR Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
