Business
Appointment of Corporate Advisor - Molyhil
Appointment of Corporate Advisor - Molyhil.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8387H Thor Mining PLC 20 November 2018 \n\n20 November 2018\n \nTHOR MINING PLC\nMOLYHIL TUNGSTEN AND MOLYBDENUM PROJECT\nAPPOINTMENT OF CORPORATE ADVISOR\nThe Board of Thor Mining Plc (\"Thor\" or the \"Company\") (AIM, ASX: THR), is pleased to advise of the appointment of London based Argent Partners Limited as corporate advisors to assist with completion of off-take and financing arrangements for Molyhil.\nThe Company has had approaches from, and held discussions with, a number of entities with interests ranging from both molybdenum and tungsten concentrate off-take, to those with potential interest in financing and other partnering initiatives, in respect of the Molyhil project. The directors have elected, in the interests of maximising the benefit for Thor shareholders, to appoint Argent Partners to provide both critical focus, and an outstanding skill set, to secure the best outcome possible.\nMick Billing, Executive Chairman, commented:\n\"We welcome the appointment of Argent Partners to assist in taking us through the financing stage of the Molyhil development. \"\n\"Molyhil is an outstanding project, with attractive returns and considerable upside both in project scale & mine-life, and it is critical that we secure the best deal possible for our investors in taking it through financing to enable development.\"\n\"We have had considerable interest expressed from a number of potential partners in the project, and we look forward to working with Argent Partners to take that interest into a fully financed development plan.\" \nAbout Molyhil\nThe Molyhil tungsten and molybdenum project, located in the Northern Territory of Australia, is a development ready project with very attractive returns and low operating costs from the seven year life set out in the Open Cut Ore Reserve Statement announced 8th January 2018. In addition, the project holds substantial scale, and mine-life, upside from both underground extension to the Molyhil open pit, and also from nearby at Bonya where multiple tungsten deposits outcrop at surface, along with copper deposits likely to be amenable to processing at Molyhil.\nMolyhil Key Features (ref announcement of 23 August 2018)\n\n\n\n\nProject NPV (@5%) post tax & royalties\n\n\nA$101 million\n\n\nAll Equity Case\n\n\n\n\nProject IRR p...