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1 year chart

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1 day chart

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Epic & Msn data
Epic THR
Time: 09:41:18
Mid Price: 1.63
Change Today: 0.88 Ascending
Change % Today: 116.67 Ascending
Fifty Two Week High: 8.38
Fifty Two Week Low: 0.75
Market Capital: 1.98
Period & price data
Period Price
Now: 1.63
3 Months ago: 1.63
6 Months ago: 5.00
1 Year ago: 8.13
Additional information
Additional Information
Market: AIM
Sector: General Mining
News: Latest news
Web Site: Thor Mining
Other Articles: 22-08-200812-08-200830-04-2008

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Thor Mining

Thor Mining PLC, AIM, ASX: 'THR' is a minerals exploration and development company focused on exploring and developing specialty metals 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.

 


 

Company information about: Thor Mining
Thursday, March 13, 2008

Thor Mining secures off-take for Molyhil Project

Thor Mining, the specialist metals company with tungsten-molybdenum and uranium projects in the Northern Territory of Australia, announced that it has entered into an off-take agreement with Citic Australia Commodity Trading, a subsidiary of Citic Group, one of China's largest state owned companies.

The off-take covers Thor’s Molyhil Tungsten - Molybdenum Project in the Northern Territory of Australia. Citic will take 100% of Thor's concentrates. Thor said it was now awaiting final approvals for development of Molyhil, which it expected in the second quarter and it was still considering all of its options for financing.


Chief Executive Officer, John Young, said:

"The negotiation of a long term off-take agreement has been a critical factor in progressing the development of Molyhil. We are very pleased to have secured CITIC as a partner and, with this off-take agreement now in place, we will now move forward to finalise funding arrangements ahead of the planned commencement of construction at Molyhil."

Shares in Thor soared 40% on the positive update.

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Disclaimer

This document is intended solely for the information of the particular person to whom it was provided by Proactive Investors Australia Pty Ltd and should not be relied upon by any other person. Although we believe that the advice and information which this document contains is accurate and reliable, Proactive Investors Australia Pty Ltd Limited has not independently verified information contained in this document which is derived from publicly available sources, directors and proposed directors and management. Proactive Investors Australia Pty Ltd assumes no responsibility for updating any advice, views, opinions, or recommendations contained in this document or for correcting any error or omission which may become apparent after the document has been issued. Proactive Investors Australia Pty Ltd Limited does not give any warranty as to the accuracy, reliability or completeness of advice or information which is contained in this document. Except insofar as liability under any statute cannot be excluded, Proactive Investors Australia Pty Ltd Limited and its directors, employees and consultants do not accept any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this document or for any resulting loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this document or any other person.

This document has not been written for the specific needs of any particular person and it is not possible to take into account each investor’s individual circumstances and that investors should make their adviser aware of their particular needs before acting on any information or recommendation. Proactive Investors Australia Pty Ltd Limited, its employees, consultants and its associates within the meaning of Chapter 7 of the Corporations Law may receive commissions, underwriting and management fees, calculated at normal client rates, from transactions involving securities referred to in this document and may hold interests in the securities referred to in this document from time to time.

Disclosure of Interest

Proactive Investors Australia Pty Ltd and its associates may have owned shares in the above company as at the date of the report. This position is subject to change without notice.