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Thor Mining 12 to 18 months behind, needs £40million

By Robert Tyerman | Thursday 1 May 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Mick Billing, executive chairman of South Australia-based Thor Mining (THR), claims the company could have its near-five million-tonne Molyhil tungsten and molybdenum project, in the country’s Northern Territory, in production by the end of next year. But first, he explains Thor must prove its ore-sorting technology can significantly enhance the economics of the project and then, with an AIM value of no more than £3 million, coax some £40 million from investors, financiers and/or prospective customers, for the capital expenditure required.



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