Going over the 5B statements, Thor’s cash usage is approx A$1 mill/qtr, so more funding is inevitable and/or 1 or more of the following; - off-take or sale of Molyhil - early part production or sale of spring hill (what is the value of our 51% of spring hill?) - sale of Dundas (what is the value of our 60% of Dundas?)
I agree with previous comments ie.Molyhill sale or off-take is best opportunity for Thor & us as I don’t see much (current) sale value of Spring hill or Dundas.
I don’t know if we can read much into our new lender, it’s A$1 mill loan is well secured against Thor’s assets, interestingly not Dundas though. I do hope Dundas sale is not a condition of loan! Lender could be Dundas neighbour taking advantage?
What is the possibility that our new lender is a future JV partner or Molyhil customer? If you want the resource but are not desperate to agree off-take now or to buy the company now, rescue said company with loan, get shares & interest payments, any later purchase price is ultimately reduced. Yes/no? MT
THR Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
