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Thor Mining has plenty of cash to last it through the next two quarters

Thor offers exposure to tungsten, copper and vanadium

Thor Mining PLC -
Thor has been an active explorer in Australia for several years

Thor Mining PLC (LON:THR)(ASX:THR) has responded to a query from the Australian Securities Exchange in regards to its cash position.

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

Quick facts: Thor Mining PLC

Price: 0.165 GBX

Market: AIM
Market Cap: £1.78 m

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