THOR MINING (LON:THR)
SECTOR – MINING
RATING – CORP*
MARKET CAP – £13m
CURRENT PRICE – 2.0p#
ANALYST – DR RYAN D. LONG
Year-end June
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.
Kapunda Metallurgical update
NORTHLAND VIEW
§ Thor Mining reports 78% copper recovery within two days of bottle roll leach testing and glycine as an extraction agent at the Kapunda Copper Project, located in Australia.
§ The metallurgical test work was funded by the recently announced Australian Commonwealth Research Centre Project Grant in the amount of A$2.85m for the In Situ Copper and Gold Recovery Trial.
The initial metallurgical results from Kapunda are encouraging. With high-recoveries from leaching using Glycine, a benign and biodegradable amino acid, Thor is expecting other extraction agents to be trialled and intends to report the results in due course.
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.
SECTOR – MINING
RATING – CORP*
MARKET CAP – £5.1m
CURRENT PRICE – 0.325p#
ANALYST – DR RYAN D. LONG
Year-end Jun
2016A
2017A
Revenue (£m)
-
-
No forecasts provided
EBITDA (£m)
0.0
(0.3)
Adj. pre-tax Profit (£m)
0.0
(0.3)
Adj. EPS (p)
0.0
(0.0)
DPS (p)
-
-
Net Cash/(Debt) (£m)
0.3
(0.1)
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
-
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Nomad and Broker to Altona Energy and therefore this information should be viewed as a Marketing Communication.
Pyrolysis Technology Licence Agreement
NORTHLAND VIEW
§ Altona Energy has signed an exclusive agreement to license pyrolysis technology in Australia and China with GCAT Energy.
§ Under the terms of the agreement Altona is to receive 95% of the net revenue generated from the technology.
This agreement gives Altona Energy the rights to current and future designs, plans and technical specifications and allows the Company to use the technology to construct, manufacture, operate and sell pyrolysis plants in both Australia and China. Altona and its Chinese shareholders believes this is an important opportunity to assist in dealing with China’s waste problem.
COMPANY DESCRIPTION
Altona Energy is seeking to develop the Arckaringa Coal Project, located in South Australia.