Business
QUARTERLY REPORT OCTOBER TO DECEMBER 2019
QUARTERLY REPORT OCTOBER TO DECEMBER 2019.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \nRNS Number : 5475B Thor Mining PLC 31 January 2020 \n\n31 January 2020\nTHOR MINING PLC\n(\"THOR\" OR THE \"COMPANY\")\nQUARTERLY REPORT OCTOBER TO DECEMBER 2019\n\n\n\nHighlights\n\n\nOutlook for March Quarter 2020\n\n\n\n\nCOPPER\n\n\n \n\n\n\n\nKapunda, SA Australia\n· Field pump test drilling.\n· High tenor copper (preliminary) from pump test drilling.\n \nTUNGSTEN & MULTI COMMODITIES\n\n\n \n· Confirmatory assays from field pump test drilling.\n· Continue field pump studies.\n· Preparation for field recovery trial.\n \n\n\n\n\nMolyhil, NT Australia\n· Marketing activities around potential project finance and off-take agreements for both tungsten and molybdenum concentrates.\n· Significant upgrade Molyhil Mineral Resource Estimate. \n· Drilling success at Bonya results in maiden resource estimates.\n \n\n\n \n· Discussions with Australian government agencies mandated to assist Australian critical minerals projects.\n· Continued discussions with potential Molyhil project financiers and off-take partners.\n· Tungsten price has strengthened by more than 25% since early September 2019.\n \n\n\n\n\nPilot Mountain, Nevada USA\n· Commenced discussions with various US parties aimed at securing specific investment to progress this project.\n \n\n\n \n· Continuing discussions with US parties to secure project investment.\n \n \n\n\n\n\nGOLD & OTHER COMMODITIES \n\n\n\n\n\n\n\n· Ground reconnaissance survey over Pilbara tenements provided very encouraging gold, nickel & chromium results.\n· Execution of agreements with traditional owners of Hamersley licences\n\n\n· Secure grant of Hamersley tenements\n· Follow-up ground reconnaissance work over areas of gold, nickel, & chromium prospectivity.\n \n\n\n\n\n\n\n\n\n \nCORPORATE & FINANCE\nDuring the quarter, the Company advised of a two stage placing of capital, to raise, before expenses, UK£510,000 (approximately A$955,000).\nThe Company has had expressions of interest in acquiring the Spring Hill gold royalty entitlement, and will advise the market further with progress in due course.\nThe Company has, during and subsequent to the end of the quarter, sold potion of its shar...