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AIM:THR

Thor Mining PLC

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Market:
AIM
Market Cap:
£15.73 m
Price
1.05 GBX
Change
7.36%
52 weeks high
1.40
52 weeks low
0.13

Thor Mining PLC is an exploration and development company with an advanced tungsten/molybdenum project poised for development, a growing tungsten resource, an exciting copper development project,  and an interest in a  lithium exploration company.

Thor’s Directors are experienced in the mining and finance sectors. They are practised in: evaluating mining assets; raising funds on international capital markets; evaluating acquisition and investment prospects and the day to day management of public companies and mining operations.

Thor has projects in Australia in the Northern Territory and in South Australia. Thor also owns the Pilot Mountain tungsten project in Nevada USA, and holds an interest in a company with a Lithium project in Arizina USA.

An updated feasibility study on Thor’s Molyhil tungsten project was completed in August 2018. Subject to securing the necessary project finance, the Molyhil project is scheduled to commence production during 2020.

A scoping study for the Pilot Mountain tungsten project was released in September 2018 indicating potential for a 12 year project mine life.

Thor Mining Projects

View our projects including information about the Molyhil Tungsten - Molybdenum Project, the Pilot Mountain Tungsten Project and the ISR Copper Interest.
 

The Molyhil Tungsten - Molybdenum Project

100% Thor Mining PLC

The Molyhil deposit occurs in two adjacent skarn bodies that contain outcropping molybdenite and scheelite mineralisation. Since mid 2004 it has been the subject of systematic testwork comprising of geophysical exploration, diamond and RC drilling programmes, surface and underground bulk sampling, metallurgical testwork and a geotechnical study.

Click here to read more.

 

The Pilot Mountain Tungsten Project

100% Thor Mining PLC

The Pilot Mountain tungsten project is situated 200km southeast of Reno in Nevada USA. Thor acquired the Pilot Mountain tungsten project in 2014. The project comprises a number of deposits within a radius of 3 kilometres. One of these, Desert Scheelite, has a JORC compliant resource, while others have substantial mineralisation supported by historical drilling. The Desert Scheelite Indicated + Inferred Resource comprises a 2012 JORC Compliant 9.9 million tonnes @ 0.26% WO3, 0.14% Copper, and 19.4g/t (grams/tonne) Silver, announced on 22 May 2017. The Garnet Inferred resource comprises a 2012 JORC Compliant 1.83 million tonnes @ 0.36% WO3, announced on 22 May 2017.

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ISR Copper Investment

EnviroCopper Limited

Thor Mining holds a 25% equity interest in private Australian company EnviroCopper Limited, along with rights to increase that interest to 30%.

In turn EnviroCopper Limited is earning up to a 75% equity interest in the Kapunda Copper Project, and also the Moonta Copper Project, both in South Australia.

Click here to read more.

 

The Spring Hill Project

Future Royalty Stream

In February 2017, Thor completed the staged sale of the Spring Hill project for A$3.5 million plus a royalty on future gold production. The terms of the royalty agreement provide that for every ounce of gold produced, Thor will receive:

A$14.00/ounce - if the gold price is above A$1,500/ounce

A$6.00/ounce - if the gold price is below A$1,500/ounce

 

Board and Management

View our Board and Management team, read the biographies of our directors and secretaries.

Directors

Michael Robert Billing – CPA, B Bus, MAICD - Executive Chairman and CEO.

Mick Billing has over 40 years of mining and agri-business experience and a background in finance, specialising in recent years in assisting in the establishment and management of junior companies. His career includes experience in company secretarial, senior commercial, and CFO roles including lengthy periods with Bougainville Copper Ltd and WMC Resources Ltd. He has worked extensively with junior resource companies over the past 15 years. He was appointed to the Board in April 2008.
 

Richard Bradey - Director and Exploration Manager

Richard Bradey holds a Bachelor of Science in Applied Geology and a Masters Degree in Natural Resource Management.  His recent career includes exploration, resource development, and mine geology, with Hillgrove Resources Limited, Xstrata Zinc, and Aditya Birla Minerals Limited, at senior levels.
 

Mark Potter – Non-executive Director

Formerly Director and Chief Investment Officer of Anglo Pacific Group, founding member & Investment Principal of Audley Capital Advisors LLP, and Salomon Smith Barney. Currently a director of Metal Tiger PLC.

 

Secretaries

Ray Ridge - Chief Financial Officer and Joint Company Secretary

Mr Ridge is a chartered accountant with over 20 years accounting and commercial management experience.
Previous roles include Senior Audit Manager with Arthur Andersen, Financial Controller and then Divisional CFO with Elders Ltd, and more recently, General Manager Commercial & Operations at engineering and construction company Parsons Brinckerhoff.
 

Stephen F Ronaldson - Joint Company Secretary

Mr Stephen F Ronaldson is the joint company secretary as well as a partner of the Company's UK legal advisers, Druces LLP.

Mr Ronaldson has an MA from Oriel College, Oxford and qualified as a solicitor in 1981. During his career Mr Ronaldson has concentrated on company and commercial fields of practice undertaking all issues relevant to those types of businesses including capital raisings, Financial Services and Markets Act work and placings and admissions to AIM and Ofex.

Mr Ronaldson is currently company secretary for a number of companies including eight AIM-listed PLCs

Address of Share Registrars

United Kingdom

Computershare Investor Services Plc
PO Box 82
The Pavilions, Bridgewater Road
Bristol BS99 6ZY
Telephone: +44 (0) 370 703 1343
Fax: +44 (0) 370 703 6114
 

Australia

Computershare Investor Services Pty Ltd
GPO Box 1903
Adelaide SA 5000
Level 5, 115 Grenfell Street, Adelaide
South Australia 5000
Telephone: +61 (0) 3 9415 4000
Fax: +61 (0) 3 9473 2500
 

Registered Office

Salisbury House
London Wall
London EC2M 5PS
UNITED KINGDOM
 

Australian Office

58 Galway Ave
Marleston, South Australia 5033
Telephone: +61 (0) 8 7324 1935
Fax:+61 (0) 8 8351 5169 | Email Us
 

Nominated Adviser to the Company

Grant Thornton UK LLP
30 Finsbury Square
London EC2P 2YU
United Kingdom
Telephone: +44 (0) 20 7383 5100
Fax: +44 (0) 20 7184 4308
 

Auditors and Reporting Accountants

Chapman Davis LLP
2 Chapel Court
London SE1 1HH
 

Solicitors to the Company

Druces LLP
Salisbury House
London Wall
London EC2M 5PS
UNITED KINGDOM

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