Thor Mining PLC - Molyhill awarded Major Project Status
by Northern Territory Government
The directors of
The Company is currently pursuing project finance for the development ready Molyhil project, for which the Definitive Feasibility Study released in 2018, estimated at
Chief Minister The Honourable Michael Gunner MLA, commented:
"The Territory Government's focus is on creating jobs for Territorians - this project will support 59 ongoing jobs in
"Attracting private investment to the
" We are delighted to have this level of support by the
"We expect Molyhil to generate tangible and meaningful benefits to the
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred Resource estimates for the White Violet and Samarkand tungsten deposits and the Bonya copper deposit².
Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known deposits.
Thor holds a 25% interest Australian copper development company
· rights to earn up to a 75% interest in the mineral rights and claims over the resource⁴ on the portion of the historic Kapunda copper mine in South Australia considered recoverable by way of in situ recovery; and
· rights to earn up to 75% of the Moonta copper project, also in
Thor also holds a production royalty entitlement from the Spring Hill Gold project⁶ of:
• A$5.70 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for up to A$1,500 per ounce; and
• A$13.30 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for amounts over A
¹ Refer ASX and AIM announcement of 23 August 2018
² Refer ASX and AIM announcements of 26 November 2018 and
³ Refer AIM announcement of
⁴ Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018
⁵ Refer ASX and AIM announcement of 15 August 2019
⁶ Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016
This information is provided by RNS, the news service of the
Quick facts: Thor Mining PLC
Market Cap: £7.51 m
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