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Additional information
Additional Information
Market: ASX / AIM
Sector: General Mining
Epic: THR
News: Latest news
Web Site: Thor Mining
Other Articles: 10-03-201002-03-201025-02-2010

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Wednesday March 10, 08:50StatPro FY pretax up 48% in 2009, confident of good growth ahead

All performance indicators showed a marked improvement during 2009, and the financial software provider looks set to continue its good run in the current year.

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Thursday March 11, 07:27BP shells out US$7 billion for Devon Energy's assets in Brazil, Gulf of Mexico and Azerbaijan

In addition, BP will sell to Devon Energy a 50 percent stake in BP's Kirby oil sands interests in Alberta, Canada, for US$500 million.

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Tuesday March 09, 09:55Nidec Corporation adds third factory and laboratory in Dalian City, China

Nidec Corporation (NYSE:NJ), the Japan headquartered manufacturer of small-to-mid-size motors, fan motors, and pivot assemblies, is to expand its presence in China through the construction [...]

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Thor Mining

Thor Mining

Thor Mining PLC, AIM|ASX: THR is a specialty minerals exploration and development company focused on dvancing tungsten, molybdenum and uranium projects. The flagship project is the Molyhil Tungsten-Molybdenum Project.  Since mid 2004 Molyhil has been the subject of systematic test work comprised of geophysical exploration, a diamond and RC drilling programme, surface and underground bulk sampling, metallurgical test work and a geotechnical study.

Subsequent to the completion of the updated resource statement, and the Scoping Study, Thor completed a Definitive Feasibility Study in November 2006 which confirmed that the project is technically and economically viable, with strong financial returns and rapid capital payback. Thor has also acquired a number of project areas in the Northern Territory of Australia with prospectivity for uranium mineralisation.

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Thursday, January 14, 2010

Thor Mining chairman Billings resigns positions at shareholder Western Desert Resources

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Thor Mining (AIM: THR) said its executive chairman Mick Billing has resigned as  a director and the non-executive chairman of Western Desert Resources Ltd, which holds 24.97 million Thor Mining shares, or an 11.53 percent stake.

The company has recently said it would scale back activities on the company’s flagship Molyhil tungsten molybdenum project in Australia due to the continued weakness in international markets for molybdenum. In addition the weakness in the US Dollar this year has further impacted on the Molyhil’s economics.

The company said the directors remain committed to Molyhil and strongly believe in its long term viability.  Steps have been taken to conserve cash levels.

These included cessation of work with third party engineering companies on verifying capital and operating cost savings for the Molyhil project and a 50% reduction in directors remuneration and the redundancy of chief executive officer Ian Sheffield-Parker.  Executive chairman Mick Billing is undertaking his role in the interim.

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