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Thor Mining’s Mick Billing comments on progress in quarterly update

Thor has a diverse portfolio of assets in Australia and the US

Drill core from Molyhil

Thor Mining PLC (LON:THR) is continuing to engage in talks regarding funding for its Molhil tungsten project in Australia.

"Our confidence in securing off-take and finance for Molyhil remains firm, with positive interest from a number of players, whose interests vary from offtake, to joint venture arrangements, to debt instruments,” said Thor’s chairman Mick Billing, on the occasion of the company’s quarterly operational update. 

WATCH: Thor Mining to test previous Pilot Mountain drill samples for gold

“The directors acknowledge that this has taken much longer than anticipated, however we are confident of a positive outcome. In the meantime we continue to work on initiatives which we believe will enhance the project, including extending project life beyond the initial seven year open cut program, as well as other programs anticipated to enhance commercial outcomes."

Billing also spoke of other projects that the company is advancing.

"The developments in our ISR copper investments, substantially funded by the Australian government research and development grant, continue to show great promise and we look to the scheduled drill program during the September quarter."

"We also look forward to assay results from historical Pilot Mountain drill samples which are being tested for gold content."


Quick facts: Thor Mining PLC

Price: 0.1908 GBX

Market: AIM
Market Cap: £2.05 m

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