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Additional Information

Market:	ASX / AIM
Sector:	General Mining
EPIC:	THR
Latest Price:	0.02 (-5.00% )
52-week High:	0.08
52-week Low:	0.02
Market Cap:	4.23M

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Thor Mining Full Thor Mining profile here

Thor Mining (ASX: THR, AIM: THR) is a minerals exploration and development company focused on gold and base metals exploration along with progressing towards development of a tungsten and molybdenum project in the Northern Territory of Australia. They have a portfolio of properties in the Northern Territory of Australia, and in Western Australia.

In January 2011, the company agreed terms to acquire up to an 80% interest in this project. Spring Hill hosts an Indicated Resource of 274,000oz gold within 3.64Mt @ 2.34 grams per tonne (g/t) gold.

Thor Mining still awaiting results from latest drilling at Molyhill

Monday, March 16, 2009

Thor Mining PLC is still awaiting assay results from drilling at Molyhill in Australia’s Northern Territory to identify possible incremental mineralisation at the property, and announced net losses for the first half practically unchanged from a year earlier at £500,000.

In a trading update at the end of 2008, the group had said developing the Molyhill tungsten-molybdenum project remains the main focus and that it has met with many potential financiers and partners with a view to getting the project into operation.

In its results statement today, the company said while it has made good progress in reducing capital and operating costs for the project, international molybdenum prices have reduced in line with pricing for other metals over the period to end December 2008. This has pushed the development timetable back until product pricing is more conducive for the necessary capital raising.

Since the end of the first half, Thor has continued to explore its portfolio of tenements for economic deposits of uranium and rare earths.

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