Thor stated that it had A$944,000 as at the end of June 2019 and that it expects to receive a further A$200,000 within the next couple of months from an Australian R&D tax incentive scheme.
The company has earmarked A$657,000 for near-term exploration work, but explained that at least A$150,000 of that spend is discretionary.
The company also emphasised that it has plenty of options open to it when it comes to raising new money.
Work continues on Thor’s portfolio of Australian and US base metals assets, particularly Bonya, Molyhil, Kapunda and Pilot.
The company also has a vanadium project at Jervois in the Northern Territories of Australia