Post by
snowshoedb on Aug 20, 2024 2:22pm
Thor = Discounted SP
Thor is trading at a significant discont compared to miners like Calibre with similar country risk. Both companies have significant upside with additional properties. Calibre is more estanblished but Thor is highly profitable and soon will have no debt.
The only impediment on the balance sheet is the AP balance.
Despite the hign strip ratio the company is very profitable and it is building its stockpile of ounces which now sits at 38,298 oz and is valueed at $46 million (cost) vs market value of the gold at $95 million.
The company is trading well below its high CA$ 0.34. The stock should be tradingat a more reasonable multiple (15 times) and should have a value of CA 0.75 - $0.90.
The only bad decision they made was to distract their attention with a Litium play. Hopefully they will shelve it or spin it off.
It will be interesting to see how strong the numbers are in Q2 financials. I've been picking up a few share when ever I have extra cash. Hopefully sentiment will turn at some point... you can't ignor cash generation at some point.