THOR MINING (LON:THR)
SECTOR – MINING
RATING – CORP*
MARKET CAP – £13m
CURRENT PRICE – 2p#
ANALYST – DR RYAN D. LONG
Year-end Dec
2016A
2017A
Revenue (£m)
-
-
No forecasts provided
EBITDA (£m)
(1.7)
(1.3)
Adj. pre-tax Profit (£m)
(1.7)
(1.3)
Adj. EPS (p)
(1.0)
(0.4)
DPS (p)
-
-
Net Cash/(Debt) (£m)
(0.4)
(0.1)
P/E (x)
n.a.
n.a.
Dividend yield (%)
-
-
EV/EBITDA (x)
n.a.
n.a.
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Joint Broker and provides commissioned research coverage to Thor Mining and therefore this information should be viewed as a Marketing Communication.
From yesterday: USA Lithium update
NORTHLAND VIEW
§ Hawkstone Mining (HWK.ASX) has received approval at a GM for the acquisition of 100% of the shares of USA Lithium, a company in which Thor Mining holds an interest. The acquisition is subject to several other conditions precedent, including a capital raising of A$2,750,000.
§ Thor is expected to receive 7,812,500 shares as initial consideration plus further deferred consideration. 5% of the total consideration due to Thor is required to be returned to Prembridge Resources (PERE.L).
The Hawkstone Mining acquisition is now getting closer to closure. Once completed the acquisition will mean that Thor has a liquid assets that could be used, if required, to contribute towards funding its other projects.
COMPANY DESCRIPTION
Thor Mining owns 100% of the Molyhil and Pilot Mountain Tungsten Projects, located in Australia and the USA, respectively. The Company is also earning up to a 60% interest in the Kapunda Copper Project and has a material interest in USA Lithium, a private business.