Business
Quarterly Activities Report - 30 September 2013
Quarterly Activities Report - 30 September 2013.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8021R Thor Mining PLC 31 October 2013 \n \n\n \nTHOR MINING PLC\n \nQUARTERLY ACTIVITIES REPORT \nPERIOD ENDING SEPTEMBER 2013\n \n \nDated: 31 October 2013\n\n\n \nThe Directors of Thor Mining PLC (\"Thor\" or the \"Company\") (AIM, ASX: THR) the Australian gold, tungsten and molybdenum explorer and developer, today lodge the following September 2013 quarterly report. It is scheduled for release on 31 October 2013 with the Australian Securities Exchange (ASX) as required by the listing rules of ASX.\n \n\n\n\n\n\nHighlights\n\n\nOutlook for December Quarter\n\n\n\n\n \nTUNGSTEN & MOLYBDENUM\nMolyhil NT\n· Letter of Intent agreed for sale of 70% to 75% of tungsten concentrates to major US based tungsten group.\n· Ore sorting testwork identifies cost savings.\n· Other initiatives targeting reduced capital & operating costs.\n \n\n\n \n \n \n· Seeking off-take agreements for balance of concentrate production.\n· Ongoing cost reduction work.\n· Testwork on proposed variations to process flow sheet.\n· Negotiations to secure project finance.\n \n\n\n\n\n \nGOLD\nSpring Hill NT\n· RC drilling program extends known mineralisation. \n· Best down hole intercepts of:\n• 6 metres @ 5.6g/t au\n• 6 metres @ 6.8 g/t au.\n· Ore sorting testwork shows potential for lower costs & improved economic outcomes.\n \n\n\n \n \n \n· Follow up drilling\n· Continued evaluation of potential for profitable production.\n· Follow up ore sorting testwork.\n \n\n\n\n\n \nDundas WA\n· No work during the quarter.\n\n\n \n \n· Aircore drilling program contingent upon available funds.\n \n\n\n\n\n \nCommenting, Mr Mick Billing, Executive Chairman of Thor Mining, said: \n \n\"This has been a very productive period for Thor...