Thor Mining PLC (LON:THR) turned in a loss before tax of £540,000 during the six months to December 2017, and ended the calendar year with £1.3mln in the bank, following a series of successful fundraisings. During the year, successful work on the tungsten and copper portfolio led the company to affirm its commitment to Pilot Mountain, Molyhil and Kapunda as its lead projects.
READ: Thor Mining sees boost to Pilot Mountain project after US passes Mining Act
The mine life at Molyhil has now been pushed out to seven years, while a scoping study is underway at Pilot Mountain.. Thor has also revealed the existence of a high-grade zone at the centre of the Kapunda copper project in Australia, where an in-situ leaching project is planned, and where an existing resource of 91,200 tonnes of copper is already in place.