Thor Energy Share Discussion Threads

[bsg] 16/8/2016 09:53

They've been drilling and having placings for years.

[abrahe00] 16/8/2016 09:23

How can they produce anything without drilling?

[bsg] 16/8/2016 08:24

Production, one day, may be.

[abrahe00] 16/8/2016 07:22

This is a mining and minerals exploration company... What did you expect!?

[bsg] 15/8/2016 08:23

More drilling, then more drilling! You couldn't make it up.

[cpap man] 15/8/2016 07:45

THOR MINING PLC



NEW DRILL PROGRAMME TO WIDEN TUNGSTEN RESOURCE CLOSE TO PLANNED MOLYHIL MINE



The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to announce a new drill campaign designed to confirm the close proximity of additional tungsten mineralisation within a six kilometre radius of the Company's existing Molyhil tungsten deposit in the Northern Territory.



Highlights

· 50 hole drill programme designed to test bedrock through shallow alluvial cover;

· Targeting magnetic anomalies with similar characteristics to Molyhil;

· Key objective of new drilling programme is to find additional ore sources for Molyhil project, thereby extending mine life and reducing costs;

· Targets include; Solar Farm, Stock Yard, Think Big and Gap Track areas, all of which are located within 6km of Molyhil; and

· The low cost programme, estimated at less than A$100,000 is expected to commence in late-August 2016.



Mr Mick Billing, Executive Chairman of Thor: "Improvements in the APT price combined with renewed interest in the sector leads us to believe that now is the ideal time to test these exciting targets, as we move to the next phase of work at Molyhil with renewed vigour."

"The key objective is to extend the mine life of Molyhil, and hopefully increase the scale of operations to reduce unit production costs.

"Exploration of adjacent known deposits is a sound and cost effective exploration tactic and this initial test of these Molyhil lookalike targets will hopefully lead to a significant increase in the project's current known mining inventory."



The tungsten and molybdenum mineralisation at Molyhil is contained within a magetite skarn, which can be detected using geophysical techniques. The Molyhil deposit was first discovered in the 1970s through drill testing a magnetic anomaly to follow up nearby outcropping tungsten. The edges of Mt Sainthill fault zone, where Molyhil is located, host several magnetic anomalies, identified from regional geophysical studies, with properties similar to that of Molyhil.



Thor plans a shallow aircore drilling programme to test a series of these anomalies, all within 6 kilometres of the proposed Molyhil mine site. These prospects, within the exploration licence surrounding Molyhil, are believed to be at shallow depth beneath between 2 and 20 metres of sedimentary cover.



A 50 hole drilling programme designed to penetrate this cover and test the top of the bedrock beneath is scheduled to commence prior to the end of August.



Preliminary estimates show a cost for the programme below A$100,000, although this may vary depending upon drilling rates and the time taken to execute the programme.



Depending upon the results of this programme, further deeper drilling is expected to be required.

[abrahe00] 29/7/2016 08:42

Damp squib... Doesn't look like they'll get the money before Feb either.

Back to snoozzzzzzzzzzzzz...

[cpap man] 29/7/2016 07:55

Quarterly Report for the period ended 30 June 2016



The Directors of Thor Mining PLC ("Thor Mining", "Thor" or the "Company") (AIM, ASX: THR) the Australian tungsten and gold explorer and developer, today announce the quarterly report for the period ended 30 June 2016. It has also been released today with the Australian Securities Exchange (ASX) as required by the listing rules of ASX.





Highlights



TUNGSTEN & MOLYBDENUM - Core projects now free of debt



Molyhil NT

· Assessment of drill targets adjacent to Molyhil

Pilot Mountain, Nevada USA

· Exploration scheduled pending availability of funds



Outlook for September Quarter 2016

· Proposal to drill test tungsten targets adjacent to Molyhil

· Continuing discussions to secure project finance for the Molyhil project

· Ongoing discussions for balance of concentrate production off-take at Molyhil

· At Pilot Mountain, planning has begun for exploration phase on deposits with previous multiple mineralised intersections



New Projects

The Company has during much of 2016 conducted assessments of new project opportunities. The review process has identified several which have potential for near term development with attractive capital and operating cost structures, and these are being investigated and evaluated further.



Commenting, Mr Mick Billing, Executive Chairman of Thor Mining, said:



"Scheduling a drilling program to test magnetic anomalies very close to Molyhil may, if successful, eventually lead to the delineation of additions to the Molyhil mining inventory.



"The objective is to extend the operating life of the project, but also to provide the opportunity to reduce operating costs via increased production.



"The initial drill program is designed to, at a modest cost, drill just below the alluvial cover, into bedrock and test material for tungsten mineralisation. If successful, further deeper drilling into that mineralisation will be required."



TUNGSTEN PROJECTS



Tungsten & Molybdenum Price Trends



Seasonal factory shutdowns, in the northern hemisphere summer, have resulted in commodity prices losing part of their recent gains, as demand temporarily contracts. Industry commentators still predict strengthening prices, particularly for tungsten, in the medium term.



MOLYHIL TUNGSTEN PROJECT - NT (100% Thor)



In January 2015, Thor announced an updated feasibility study for its wholly-owned Molyhil tungsten project, with robust outcomes.



The project development cost for Molyhil is estimated at A$64 million, or US$48 million at current exchange rates. Of this, approximately US$10 million is for equipment, for which equipment or leasing finance could be secured, thus reducing the project finance requirement to below US$40 million



Molyhil has a 12 month construction schedule from development commencement to first production.



During the September quarter, the Company proposes to carry out a shallow drilling program to test a series of magnetic anomalies with geophysical properties very similar to that of Molyhil, all within 6 kilometres of the Molyhil mine. These prospects within the exploration licence surrounding Molyhil are believed to be at shallow depth beneath between 2 and 20 metres of sedimentary cover. A 50 hole program designed to penetrate this cover and test the top of the bedrock beneath is scheduled to commence during August. Depending upon the results of this program, further deeper drilling will be required.



A full background on the project is available on the Thor Mining website.





PILOT MOUNTAIN TUNGSTEN PROJECT - NEVADA USA (100% Thor)



Thor's Pilot Mountain Project, acquired in 2014, is located approximately 200 kilometres south of the city of Reno and 20 kilometres east of the town of Mina located on US Highway 95.



The Pilot Mountain Project is comprised of four tungsten deposits: Desert Scheelite, Gunmetal, Garnet and Good Hope. All are in close proximity (~3 kilometres) of each other and have been subjected to small-scale mining activities at various times during the 20th century.



In December 2014, Thor outlined a proposed exploration development plan with the objective of upgrading the knowledge and status of the mineralisation of these deposits where historical drilling outlined potentially economic mineralisation.



The exploration opportunity is to drill the Garnet, Gunmetal, and Good Hope deposits, all of which were extensively drilled in the 1970's to verify and extend the known mineralisation, with the objective of converting Exploration Targets* into Mineral Resources.



* Quoted Exploration Targets are conceptual in nature and there has been insufficient exploration to define a Mineral Resource under the JORC Code and it is uncertain if further exploration will result in the determination of a Mineral Resource.



A full background on the project is available on the Thor Mining website.





DUNDAS GOLD PROJECT - WA (60% THOR)



The Dundas gold project is located approximately 100 kilometres east-south-east of Norseman in Western Australia. The tenements are in close proximity to the sealed arterial Eyre Highway, providing all-weather access to the project area. Within the tenements, access is provided by bulldozed tracks. It is also approximately 250 kilometres south of the major regional mining centre of Kalgoorlie.



Targets for drilling at Dundas have been identified. However, prioritising expenditure on other projects has prevented progress on further exploration activities.



A full background on the project is available on the Thor Mining website.



CORPORATE AND FINANCE



During the quarter, a placement to raise UK£300,000 from sophisticated investors was announced and partially completed. The balance of the subscription was completed following approval at a general meeting of shareholders in London on 23rd June 2016, with portion of the funds received after the end of the quarter.

Subsequent to the end of the quarter, Mr Gervaise Heddle joined the board of Thor Mining.



Yours faithfully,



THOR MINING PLC

Mick Billing

Executive Chairman

[cpap man] 29/7/2016 07:53

RNS[s] out from THR

[abrahe00] 28/7/2016 14:35

Quarterly report should be out tomorrow. I was hoping some gossip or leaked info would have pushed this up higher.

Fingers crossed for tomorrow. GLA.

[bdbiometric] 26/7/2016 16:58

Moving up?

[paleje] 25/7/2016 15:38

I don't think MTR would have bought in on that sort of outlook, bsg.

[bsg] 25/7/2016 11:55

Can't see it getting to 0.05p in the next 3 years. We have placing down to 0.01p to go yet, then a consolidation. Rinse and repeat.

[paleje] 25/7/2016 11:18

Bsg, but the share price needs to add about 70% before those options are worth anything and then only just. IMO they'll want to see much more than that, several times today's price........so more snouts yes, but at least they've got to increase the share price which is to all our benefit.

[rtree] 25/7/2016 09:33

Update from Northland on appointment of Gervaise Heddle as a Non-Executive Director

- Gervaise Heddle has been appointed Non-Executive Director of Thor Mining

- Mr Heddle and each of the existing Directors of Thor will be issued 1000m ordinary options with an exercise price of 0.05p, with a three year expiry.

NORTHLAND CAPITAL PARTNERS VIEW: Mr Heddle is an Executive Director of Greatland Gold and MD of Bletchley Economics. He was formerly a Division Director at Macquarie Bank and a Fund Manager and Director at Merrill Lynch Investment Managers

[bsg] 25/7/2016 08:35

More snouts in the trough, just what we need.

[scyther] 21/7/2016 03:50

Steven King Doubles his holding here by buying on the open market and no one notices? Interesting that once punters put two and two together the shareprice here conservatively could double in a couple of sessions. Also thr are negotiating to get the remaining 850k a lot earlier than February and that is why I think MTR and Steven King have taken meaningful positions.

[abrahe00] 19/7/2016 15:56

The next quarterly report should be out soon. Does anyone know when?

TIA...

[the sim] 24/6/2016 12:09

Thor appears to be a safe haven today, while all around falls.

[abrahe00] 16/6/2016 09:40

Not sure why THR are not putting out an RNS...

[dr jekyll] 15/6/2016 11:30

An impressive interview by Mick Billings with Zak Mir. Comes across as honest and realistic I thought. I have a small investment here.

[basquinth] 14/6/2016 17:49

If your going medium to long you'll probably end up being well done!