Thor Mining PLC (LON:THR) (ASX:THR) has highlighted a ‘very productive’ first quarter of 2018, with all three of its core projects continuing to make a good progress.
In the AIM-listed miner's latest quarterly report, Mick Billing, Thor's executive chairman said: "In particular, the acquisition of the interest in the tungsten and copper deposits at Bonya has the potential to be a game changer for Molyhil with the expectation of consequent substantial mine life extension. We look forward to the first drill program at Bonya, scheduled for early in the September quarter."
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He added: "Following the upgraded Open Cut Ore Reserve for Molyhil, we have been progressing the Definitive Feasibility Study (DFS) and the outcomes of this are expected shortly.
"The scoping study at Pilot Mountain is nearing completion, and we expect to have some guidance from this during the June quarter."
Billing said: "We will continue to provide investors with regular updates in respect of progress."
The mining company said its cash position remains robust with A$3.0mln in funds held at the end of March ensuring that its forecast activities are fully financed into 2019.
Thor said for the June quarter 2018 it expects to complete Bonya acquisition and schedule an initial drilling programme.