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Thor Mining's more focused tungsten and copper strategy wins over investors

The company is looking to rapidly commercialise three key tungsten and copper interests.
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The revised strategy has resonated well, triggering a 9% share price re-rating

Thor Mining PLC (ASX:THR) (AIM:THR) has taken the decision to focus solely on its tungsten and copper interests in Australia and the US.

Management’s revised strategy appears to have resonated with investors with the company's shares trading nearly 9% higher this morning.

WATCH: Thor Mining to focus solely on its tungsten and copper projects

Thor is looking to rapidly commercialise three key tungsten and copper interests.

Thor has cash of $3 million which management expects will be sufficient working capital to undertake and fund planned activities well into 2019.

Pilot Mountain, Molyhil and Kapunda are the future

Mick Billing, executive chairman, said: “It is the view of the board that the time has come to absolutely focus our efforts on Pilot Mountain, Molyhil and Kapunda.

“Our main business investment decisions will be strictly focused on the Pilot Mountain, Molyhil and Kapunda projects and any directly related and compatible developments from a geographic, commodity and strategic perspective.”

Continue dialogue with third parties

However, management acknowledges that the company has access to numerous additional opportunities including precious and strategic metals projects.

Should an opportunity arise, it could be considered but will be transferred to a separate unit where value can be extracted without dragging on the core business.

Of particular importance is the continuing engagement with third parties keen to consider strategically significant tungsten and copper opportunities.

Management is of the view that initiatives such as joint ventures and offtake agreements can revolutionise its business model and secure greater market recognition.

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