||EPS - Basic
||Market Cap (m)
Thor Mining Share Discussion Threads
Showing 9501 to 9524 of 9525 messages
|Mr Mick Billing, Executive Chairman, commented:
"I am pleased to report further material progress in our campaign to further enhance the value and project economics of Molyhil. In today's challenging resource environment mineral development companies are ideally placed with advanced projects, and Molyhil falls into that category with a Definitive Feasibility Study already complete.
We are now going about the business of building our knowledge and the inherent value of Molyhil, and today's announcement marks some great progress in this regard.
The fertility of the Cattle Track and Gap Track prospects has been enhanced. Whilst the number of holes in each of these targets is, both limited and quite widely spaced, we have identified both geochemical signature and geology indicative of potential mineralisation. Further drilling on each of these targets is warranted and will be scheduled and additional announcements will therefore follow.
In addition Thor will be providing further updates in the near term with regard to the Company's Pilot Mountain, Nevada project and specifically the efficient route we have identified to significantly increase the in-situ resource at that project.
Finally the Company remains highly proactive in the review of new opportunities. We hope to provide a further update to market in this regard at the earliest opportunity."
Following the initial on site analyses using hand held XRF analyser, samples were sent for laboratory follow up assay. The laboratory assay process has a lower detection limit of 1 part per million ("ppm") compared with 10ppm for the hand held XRF, and also uses a larger sample size. Trends in tungsten distribution are now apparent in the laboratory assays that were not apparent in the earlier analyses.
The laboratory analyses show tungsten elevated at two to three times background levels in the vicinity of the Molyhil Pinnacle (Cattle track) and along the southern margin of the Gap Track prospect (refer to map). At Gap Track, where a broader spread of data points was collected, a trend of elevated tungsten is apparent which reflects the trend in elevated magnetic response. These are encouraging results albeit at subdued levels.
Due to its low chemical reactivity and high physical density, tungsten does not tend to disperse in the soil and weathered rock profile as much as more reactive metals such as copper. As a result, any detection of tungsten is considered encouraging and worthy of follow up investigation.|
|Took a while, but at the placing price now. Next placing 0.02p?|
|I sold about 2 weeks back,at quite a loss.I don't think they are going to get the funding so easily,unless the tungsten price improves very quickly.|
|Bailed out this morning. I couldn't see them raising $40m anytime soon and didn't want to wait 5 years for the US asset to start.
|It's been ready for ages? Just needs funding!|
|Tip TV Finance @OfficialTipTV · 41 minutes ago
Thor Mining: CEO Interview - Molyhil is ready to go https://audioboom.com/boos/5080626-thor-mining-ceo-interview-molyhil-is-ready-to-go … via @audioBoom|
MTR only subscribed to 400m. The directors took up a small percentage. There's a 1bn overhang.
I also don't think the shareholder meeting for the approval of the 1bn additional shares has been held yet.
|Let's at least keep things here factual|
|They have already "hit" the market and it was taken up by MTR and directors so none will have been forward sold|
|Trouble is it keeps happening, billions and billions of shares.|
|With a billion shares about to hit the market @ 0.025p, I don't think these are going anywhere anytime soon...AIMHO...|
|scyther, I'll believe it when I see it.|
|MTR increase their position again plus we have drill results to come and we are still treading water.We should see a Ggp style rise here soon enough which was a 3/4 bagger in a very short time|
|We should be getting drill results anytime now..Anyone any thoughts|
|I think Mick needs to go as well.|
|I am interested to see the latest change to the board for THOR and likely effect on company value
Have a good feeling about this.
|No doubt more noses for the trough|
the reverend david
|Another placing, how nice.
New invigorated board to consist of Mick Billing ... LOL|
|Why are these shares being hammered this morning?|
|25 August 2016
THOR MINING PLC
MOLYHIL TUNGSTEN PROJECT - COMMENCEMENT OF DRILLING
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to announce the commencement of the aircore drilling campaign designed to test for additional tungsten mineralisation within a six kilometre radius of the Company's existing Molyhil tungsten deposit in the Northern Territory of Australia.
· 50 hole drill programme designed to test bedrock through shallow alluvial cover.
· Targeting magnetic anomalies with similar characteristics to Molyhil.
· The key objective of the new drilling programme is to find additional ore sources for the Molyhil project, thereby extending the estimated mine life and reducing costs.
· The programme, which commenced earlier today, has a cost estimate of less than A$100,000.
Mr Mick Billing, Executive Chairman, commented:
"Exploration adjacent to known deposits (brownfields exploration) historically has a much higher success rate than greenfields exploration, and we are hopeful that this initial test of the localised Molyhil lookalike targets will lead to the discovery of additional deposits and, subsequently, to a significant increase in the project's current known mining inventory.
"The key objective is to extend the current proposed mine life of Molyhil, and hopefully increase the scale of operations to reduce unit production costs."|
|They've been drilling and having placings for years.|
|How can they produce anything without drilling?|
|Production, one day, may be.|
|This is a mining and minerals exploration company... What did you expect!?|