Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) said it was pleased with its progress across its projects during the past half-year, with buoyant commodity prices supporting the outlook for 2022.
The company’s two capital raisings during the period have put it in a ``strong position to deliver’’ on its drill programmes this year, it said in a statement on Tuesday.
Cash and cash equivalents rose to £1.58m at the end of December from £685,000 a year earlier.
"Commodity prices have performed well during the period and forecasts are favourable that these conditions will continue further into 2022,’’ said Managing Director Nicole Galloway Warland.
The company "has a strong pipeline of news flow expected in the coming months, and project milestones across the portfolio,’’ she added.
Among the highlights, Thor Mining noted a 13km trend of anomalous gold defined by stream and soil sampling at the Sterling Prospect, Ragged Range in the Pilbara region of Western Australia. It said so-called RC drilling is scheduled over the Sterling gold prospect.
The natural resources company, which is listed in the UK and Australia, said its pre-tax loss rose to £783,000 from £397,000 in the year-earlier period.