RCS - Thor Mining PLC - Research Report

Thor EnergyAnnouncement

04/07/2018 09:20

RNS Number : 5678T
Thor Mining PLC
04 July 2018
 


4 July 2018
 
THOR MINING PLC
Research Report
 
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to provide an update confirming the release of a Research Note initiating coverage on the Company.
Research Note
SI Capital have today released an Initiation of Coverage Note in respect of Thor Mining that may be viewed through the following link:
http://www.thormining.com/-/thor/lib/docs/researchreport/SIC_THR.L_INITIATION_JUNE2018.pdf
 
Enquiries:



Mick Billing


+61 (8) 7324 1935


Thor Mining PLC


Executive Chairman




Ray Ridge


+61 (8) 7324 1935
 


Thor Mining PLC


CFO/Company
Secretary




Colin Aaronson/
Richard Tonthat
 


+44 (0) 207 383 5100
 


Grant Thornton UK LLP
 


Nominated Adviser




Nick Emerson
 


+44 (0) 1483 413 500


SI Capital Ltd


Broker




Tim Blythe/ Camilla Horsfall


+44 (0) 207 138 3222


Blytheweigh


Financial PR



 
Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.
 
About Thor Mining PLC
 
Thor Mining PLC (AIM/ASX:LON) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in 2015¹ suggested attractive returns. Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated Resources Estimate² on 2 of the 4 known deposits.
Thor is also acquiring up to a 60% interest Australian copper development company Environmental Copper Recovery SA Pty Ltd, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery.
Thor also holds a production royalty entitlement from the Spring Hill Gold project³ of:
·   A$6 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for up to A$1,500 per ounce; and
·   A$14 per ounce of gold⁴ produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 per ounce.
Notes
 
·   ¹ Refer ASX and AIM announcement of 12 January 2015
·   ² Refer AIM announcement of 22 May 2017 and ASX announcement of 23 May 2017
·   ³ Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016




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