Thor Mining (ASX: THR, AIM: THR) is fresh from delivering a positive Definitive Feasibility Study at the Molyhil tungsten and molybdenum project in Australia's Northern Territory, with 'mine of life' extensions also being identified.
In a major plus for investors, Thor will be presenting at the "Stars in 2012 Series" in Sydney on Wednesday 18th July - and you are invited to attend the FREE EVENT.
*** CLICK HERE TO REGISTER ***
The DFS announced earlier in the month from Molyhil identified that the project will deliver attractive financial returns, as well as the early payback of the capital required for its development.
The study highlights include;
- EBIT returns provide for 21 month payback period;
- All equity Net Present Value of A$28 million with an Internal Rate of Return (IRR) of 24%, after tax;
- Production cost of A$125/mtu concentrate compared with revenue of A$354/mtu;
- DFS outcomes calculated on 4 year ore reserve; and
- Substantial upside potential identified on optimisation of pit design parameters to extend mine life.
With the study complete, Thor is now well positioned to negotiate off-take sales and finance agreements to move the project towards development, which will then pave the way to commence detailed engineering studies, along with onsite civil works in preparation for mine and process plant construction and development.
Molyhil currently hosts an Ore Reserve of 1.64 million tonnes at 0.42% tungsten and 0.13% molybdenum, and importantly the tungsten grade in the reserve is 50% above resource estimate grade.
There is plenty of potential blue sky for the Molyhil project, which may include extending the open cut operation and/or underground mining to extract more of the 65% of the resource, laterally and at depth, which is not included in the ore reserve.
Adding some further interest, there may be the ability to for additional production exploration targets, including some recently identified within several kilometres of Molyhil.
Finally, if the large magnetic target below the known Molyhil resource can be proven to contain economic mineralisation, then this could open up the door for a sustained longer term underground mining operation.
EVENT DETAILS
The event will be held on Wednesday 18th July, 2012 at the Radisson Blu Hotel - Corner Pitt & O'Connell Street, Sydney from 5:15pm (for a 5:30pm start).
The presentations will be followed by a Wine & Canape Reception allowing you to personally interact with presenting MD's &CEOs.
While the event is FREE to attend, registrations are essential.
EARLY BIRD DOOR PRIZE: If you arrive by 5:15pm and register for the event – you qualify for the Special Door Prize of a HD James Bond Spy Pen Digital Video Camera & Recorder.
LUCKY DOOR PRIZES: All attendees instantly go into the draw to win 1 of 4 lucky door prizes drawn on the night of either a $100 Voucher for Radisson Blu Hotel, $100 STA Travel Voucher or a $100 Ticketek Voucher.
FULL PRESENTER LIST
Thor Mining
Thor Mining (ASX: THR, AIM: THR) recently delivered DFS for the Molyhil tungsten and molybdenum project which identified 'attractive financial returns', and with a large magnetic target identified below the known resource, there is the potential for a larger resource and a boost to economics.
Benitec Biopharma
Benitec Biopharma (ASX: BLT) is developing a range of human therapeutics for major life threatening conditions (infectious disease, cancer, genetic disease) all based on ddRNAi (DNA-directed RNA interference), a unique platform technology for long-term silencing of disease-causing genes.
Millennium Minerals (ASX: MOY) is on track for the first commercial gold production from the Nullagine Project in the December quarter of 2012, with a target production rate of 100,000 ounces annually for eight years or better.
Predictive Discovery (ASX: PDI) is currently advancing a maiden JORC Resource in Burkina Faso, where the company enjoys a large strategic ground position with two projects known as Bangaba and Bonsiega. Predictive is also supported by strong institutional support.
Hill End Gold (ASX: HEG) is a gold explorer with a focus on becoming a mid-tier gold producer based on its two flagship projects at Hill End and Hargraves in the historically gold-rich Lachlan Fold Belt in central New South Wales.
Blackham Resources (ASX: BLK) has some strategically well positioned projects in the gold rich Wiluna region of Western Australia, which are within close proximity to existing production facilities. The company is targeting a one million gold ounce bounty in the short term.
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