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Additional information
Additional Information
Market: AIM / ASX
Sector: General Mining
Epic: THR
News: Latest news
Web Site: Thor Mining
Other Articles: 05-07-201005-07-201023-06-2010 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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Thor Mining

Thor Mining

Thor Mining PLC, (AIM/ASX: THR) is a minerals exploration and development company focused on gold and base metals exploration along with progressing towards development of an advanced tungsten and molybdenum project in the Northern Territory of Australia.

The Dundas Gold Project is situated in Western Australia within the Albany-Fraser Province, in an area where the trend of the Albany-Fraser belt is displaced south-eastwards by about 50km.  The Albany-Fraser belt hosts a number of recent gold discoveries including the +5 million ounce Tropicana gold deposit, and other discoveries including Beachcomber, Socrates, Corvette, and Corona.  Recent work by Thor has identified a number of priority drill targets.

The Molyhil tungsten and molybdenum project in the Northern Territory remains ready for development pending some sustained improvement in metal prices.  The project has advanced beyond exploration and has been the subject of a definitive feasibility with technical, environmental and community issues successfully addressed.

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Wednesday, March 10, 2010

Thor Mining H1 pretax loss remains in line with 2008

Thor Mining (AIM, ASX: THR) said its half yearly pretax losses amounted to £534,000, which was about in line with a £500,000 loss in H1 2008 as the company reduced administrative expenses by more than 60% in response to lower molybdenum and tungsten prices.

Income for the six months to 31 December saw a 50% reduction in directors remuneration and a write down due to an impairment of exploration costs for the half year amounting to £209,000 and exchange differences of £1.04 million.

“While good progress had been made in reducing capital and operating costs for the project, international molybdenum prices reduced in line with pricing for other metals over the period.  This pushed the development timetable back until product pricing is more conducive for the necessary capital raising,” said Executive Chairman of Thor Mining Mick Billing.

Back in November, Thor said it would scale back activities on the company’s flagship Molyhil project due to the continued weakness in international markets for molybdenum. At that time the price for molybdenum roasted concentrates, as published in “Metal Pages”, was US$11.80/lb compared with a published price of US$34.00/lb in September 2008.

After the end of the period, the company announced plans to place 16.7 million shares with Australian Investors to raise £140,000 before costs to research and assess opportunities to acquire additional projects focussing upon mainstream commodities.

Last month, Thor announced plans to acquire the Dundas gold project in the broader Norseman area south-east of Kalgoorlie in Western Australia. This area has never been explored in detail and no drilling has been conducted within the boundaries of these tenements. Previously a limited, 40 sq km (square kilometres) surface geochemical program was conducted by BHP Billiton (LSE: BLT, ASX: BHP) revealed gold anomalies comparable with those associated with gold mineralisation elsewhere in the Wiluna-Kalgoorlie-Norseman greenstone belt.

The remaining 335 sq km of the Dundas Project remains unexplored.

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