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Thor Mining Plc
Summary
| Project: | Molyhil | |
|---|---|---|
| Deposit: | Molyhil | |
| Location: | Australia | |
| Commodities: | Tungsten-Molybdenum | |
| Date: | 8/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-8-2018: Thor Mining Plc announces a Feasibility Study report for its Molyhil deposit at the Molyhil project. Updated DFS results incl. post-tax NPV of A $101M (5%), IRR of 59%, 7yr LOM at the project. The Board of Thor Mining Plc (“Thor” or the “Compan | |
| Resources: | (Reserve, Prob.): 3.5Mt @ 0.29% WO3, 0.12% Mo | |
| CP/QP: | [Overall Report]: Richard Bradley (Internal) | |
| ABSTRACT: | The Board of Thor Mining Plc (“Thor” or the “Company”) (AIM, ASX: THR) is pleased to announce results of an upgraded Definitive Feasibility Study (DFS) for the Molyhil tungsten and molybdenum project in the Northern Territory of Australia. The study outcomes show materially enhanced financial returns and early payback of capital as a result of process improvements and longer operating life at the Molyhil open pit, with significant further upside potential from subsequent underground mining at Molyhil and from the nearby Bonya tungsten deposits. Mick Billing, Executive Chairman of Thor Mining, commented: “I am delighted to release the results of the Definitive Feasibility Study update that shows a Net Present Value exceeding A$100 million and demonstrates the substantial value this project holds for the Company and its shareholders.” “Of particular note, the sole focus of this study is on the open pit operation outlined in the ore reserve, and does not account for what the board believe will be significant additional mine life generated from the potential underground mining operation and the additional ore potential from the nearby Bonya deposits, as previously announced.” “The Company now has an updated and upgraded Definitive Feasibility Study, incorporating the work over recent years at Molyhil with which it can continue to engage with third parties who have expressed a specific interest in the project.” | |
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