RCS - Thor Mining PLC - Research Report

Thor EnergyAnnouncement

29/10/2018 07:40

RNS Number : 5057F
Thor Mining PLC
29 October 2018
 


29 October 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
Northland Capital Partners have released a Re-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/251018_Northland%20Capital%20Partners_Thor%20Mining_%20ReInitiation_RDL_BG.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/ Ben Roberts


+44 (0) 207 383 5100
 


Grant Thornton UK LLP
 


Nominated Adviser




Nick Emerson


+44 (0) 1483 413 500


SI Capital Ltd


Joint Broker




David Hignell / Rob Rees / Isabella Pierre 


+44 (0)20 3861 6625 


Northland Capital Partners Limited


Joint 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: THR) 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 August 2018¹ suggested attractive returns.
Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate² on 2 of the 4 known deposits.  The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.
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 resource³ on the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery. 
Thor has an interest in Hawkstone Mining Limited, an Australian ASX listed company with a 100% Interest in a Lithium project in Arizona, USA.
Finally, Thor also holds a production royalty entitlement from the Spring Hill Gold project⁴ 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 gold 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 23 August 2018
·     ² Refer AIM announcement of 22 May 2017 and ASX announcement of 23 May 2017
·     ³ Refer AIM announcement of 10 February 2016 and ASX announcement of 12 February 2018
⁴ Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2017




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