THR - Thor Energy
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Definitive Feasibility Study on Molyhil Tungsten-Molybdenum Project confirms viability of a
300,000tpa mining and processing operation.
Thor has decided to proceed with the development which has a rapid capital payback and
strong financial returns.
Financial modelling for the project indicates a pre-royalty EBIT of A$117M over the first 4
years.
A Net Present Value of A$88M discounted at 8% at an average AUD/USD exchange rate of
0.73.
An Internal Rate of Return of 111%.
Significant opportunities identified for reduction of CAPEX through the purchase of second-
hand equipment.
Further drilling planned for the first quarter of 2007, which is designed to increase the life of
mine within open pit designs and to increase the resource at depth.
Thor Mining PLC (ASX and AIM: THR) ("Thor") today announced the completion of a
Feasibility Study on its 100%-owned Molyhil Tungsten-Molybdenum Project in the
Northern Territory of Australia. The Study confirmed that the project is technically and
economically viable, with strong financial returns and a rapid capital payback.
The Board has today agreed to proceed with a new mine development at Molyhil, subject
to securing all necessary approvals, including a suitable offtake agreement; and
completing financing arrangements in the first quarter of 2007.
The Definitive Feasibility Study (DFS), which was completed over the past 12 months,
paves the way for the financing and development of the Molyhil Project during 2007. The
Company is aiming to complete financing and offtake agreements during the first quarter
of 2007. Thor is currently in discussions with a number of parties in relation to this,
however, at this stage, no terms have been agreed. Construction is targeted to commence
in May 2007 with first production in the first quarter of 2008.
The DFS confirmed the viability of a mining and processing operation based on a JORC
compliant resource for the Molyhil deposit of 2.4 million tonnes grading 0.8% combined
tungsten WO3 and molybdenum MoS2 to a vertical depth of 150 metres.
The operation would be based on an open pit mining operation and 300,000tpa process
plant with an initial 4-year mine life. Drilling is planned in 2007 to extend the mine life
both within the planned pit designs and at depth. This deep drilling is to be completed with
a view to extending the life of the mine by underground mining at the cessation of open
pit operations.
300,000tpa mining and processing operation.
Thor has decided to proceed with the development which has a rapid capital payback and
strong financial returns.
Financial modelling for the project indicates a pre-royalty EBIT of A$117M over the first 4
years.
A Net Present Value of A$88M discounted at 8% at an average AUD/USD exchange rate of
0.73.
An Internal Rate of Return of 111%.
Significant opportunities identified for reduction of CAPEX through the purchase of second-
hand equipment.
Further drilling planned for the first quarter of 2007, which is designed to increase the life of
mine within open pit designs and to increase the resource at depth.
Thor Mining PLC (ASX and AIM: THR) ("Thor") today announced the completion of a
Feasibility Study on its 100%-owned Molyhil Tungsten-Molybdenum Project in the
Northern Territory of Australia. The Study confirmed that the project is technically and
economically viable, with strong financial returns and a rapid capital payback.
The Board has today agreed to proceed with a new mine development at Molyhil, subject
to securing all necessary approvals, including a suitable offtake agreement; and
completing financing arrangements in the first quarter of 2007.
The Definitive Feasibility Study (DFS), which was completed over the past 12 months,
paves the way for the financing and development of the Molyhil Project during 2007. The
Company is aiming to complete financing and offtake agreements during the first quarter
of 2007. Thor is currently in discussions with a number of parties in relation to this,
however, at this stage, no terms have been agreed. Construction is targeted to commence
in May 2007 with first production in the first quarter of 2008.
The DFS confirmed the viability of a mining and processing operation based on a JORC
compliant resource for the Molyhil deposit of 2.4 million tonnes grading 0.8% combined
tungsten WO3 and molybdenum MoS2 to a vertical depth of 150 metres.
The operation would be based on an open pit mining operation and 300,000tpa process
plant with an initial 4-year mine life. Drilling is planned in 2007 to extend the mine life
both within the planned pit designs and at depth. This deep drilling is to be completed with
a view to extending the life of the mine by underground mining at the cessation of open
pit operations.
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THR having a run today - breakout perhaps? - based on results of rock-chip sample from Harts Range potential U grounds.
About to start drilling at Plenty Highway and Hale River (all of these in the NT) ... could this be the 'uranium hopeful' speculator is refering to in terms of tomorrows bulletion... pure speculation i guess
About to start drilling at Plenty Highway and Hale River (all of these in the NT) ... could this be the 'uranium hopeful' speculator is refering to in terms of tomorrows bulletion... pure speculation i guess
theasxgorilla
Problem solved... next bubble.
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You can sure it's based on the U results. Friend of mine will be required to do something extra special for Valentines day as he just cleaned up.
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laurie - still holding these as well - testing all time highs but probably need to see some more volume to break 31c. The moly project seems to be advancing well, uranium is very early days and would like to see them drilling soon.
I see TNG is distributing its 16m THR shares to its shareholders - presume this means selling them and distributing cash? - if this is the case what impact on THR price do you think?
I see TNG is distributing its 16m THR shares to its shareholders - presume this means selling them and distributing cash? - if this is the case what impact on THR price do you think?
Well nothing really 56gsa its just a transfer its what TNG shareholders do with their share holdings they would IMHO be crazy to sell this is worth much more just on the Uranium alone BUT the market is always right! 
cheers laurie
ps disclosure:I topped up today
cheers laurie
ps disclosure:I topped up today
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breakout looks to be confirmed and now blue sky... based on fib with .18 as base, .29 as 38.2%, we could see consolidation around current levels (.36 / 61.8%) and target of .47
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x2whats your thinking laurie on the recent rise?
i see poor old BTV is still languishing despite their 12% holding in THR ( cash + THR holding is now more than mkt cap - ie deflector is worth zero!)
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Something to do with their U spin off maybe
2 more weeks to go... we should know by then whether the chinese is interested in a JV? share placement? or even a takeover?? hehe...
i still can't believe how this stock slipped through investors radar.
hmmmm I thought its this Sunday
cheers laurie
nice close @.495, currently sp is up in euro market. will be a interesting tomorrow (til friday) investors trying to pick up some parcels at a bargain price before ann. is released.
THR -- primary activity Molybdenum (UK investors love it & the Chinese), secondary activity Uranium (Oz darling). DYOR
THR -- primary activity Molybdenum (UK investors love it & the Chinese), secondary activity Uranium (Oz darling). DYOR
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heading for a retrace - could find support at 39 , 35 or 32
Nice recovery by THR to 44c at end of day. Was today's retrace due to the partial sell-off by Batavia Mining? Why did Batavia sell? Profit-taking? In view of the subsequent trading halt in THR, anyone have any ideas?
regards YN.
