The GFC of 2008 put an end to the CITIC deal. Still, many resource companies since the GFC have prospered while Thor has floundered. You have to ask, how much effort has been put into looking for offtake partners? I'm fairly certain that management had a very comfortable 2012. Will 2013 prove just as comfortable? How much stagnation can shareholders take? How much capital erosion and dilution are we willing to tolerate?
If push came to shove, who would be prepared to take action? Because if none is taken, I'll bet my bottom dollar that 2013 ends up the same as 2012.
THR Price at posting:
1.0¢ Sentiment: None Disclosure: Held
