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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 remains committed to Molyhil project, still in finance talks

Friday, May 01, 2009

Thor Mining PLC (TSX, AIM: THR) said development of its its Molyhil tungsten molybdenum project in Australia and in particular financing still continues to be of high priority.

It also continues to investigate alternatives to reduce capital and operating costs there, the group said in a quarterly update. Financing discussions have been positive to date, however the mood is still very cautious in the current financial climate.

The selling price of molybdenum roasted concentrates has reduced slightly during the quarter to end-March and showing some signs of support at US$8 per pound. The selling price of Tungsten APT has reduced slightly to between US$210 and US$225 per metric ton unit.

Demand for the commodities has increased slightly over the period, with worldwide stockpiles nearly exhausted. Demand is showing signs of improvement for the remainder of the year, as the steel industry shows increased production levels, Thor added.

In a separate statement it announced it has appointed Daniel Stewart & Co PLC as its nominated adviser and broker.

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