Thor is a mineral exploration and development company with an advanced tungsten/molybdenum project poised for development and exciting precious and base metals exploration projects. The Board seeks to increase shareholder value by systematically exploring its resource portfolio.

Thor’s Directors are experienced in the mineral and finance sectors. They are practised in: evaluating mining assets; raising funds on international capital markets; evaluating acquisition and investment prospects and the day to day management of public companies.

Thor has a portfolio of properties in the Northern Territory of Australia, and in Western Australia.

Latest Thor Mining News

  • Thor Mining: Update Q&A with Chairman Mick Billing
    Thor Mining: Update Q&A with Chairman Mick Billing

    In advance of their forthcoming presentation at the MiningMaven Investor Evening on Wednesday 16th May, Thor Mining (LON:THR) Chairman Mick Billing took the time to answer some investor focused questions, which we trust readers will find informative and also give you a flavour of what to expect in terms of developments and news-flow over the coming months, and the rest of the year.

    MM: Could you outline for investors the reasons for the recently announced delay in the release of the Molyhil DFS, and advise if this in any way reflects on the quality and/or viability of the project?

    MB: The consultants preparing the ore reserve estimate and detailed mining plan and schedule advised us that their internal sign off process would take a further 5 weeks.  This was unexpected as they have been working with the resource and reserve model for Molyhil since late in 2011, and it was our understanding that the bulk of this work had been covered off.

    The delay is not a result of any problems with the viability of the project.  All the evidence we have suggests that Molyhil is a very robust project which will deliver attractive returns for investors.

    However we have a mining boom in Australia & all consultants are struggling to keep good people and are stretched very thin with their workload.

    MM: Please explain what remains to be undertaken, particularly with regard to the due process and procedural work, outlined in your recent Molyhil announcement?

    MB: These, as we understand them, are largely internal sign off procedures required before appropriately qualified personnel will sign off as competent persons under the JORC Code.

    MM: How important is the receipt of the DFS in terms enabling you to undertake discussions with potential parties, interested in engaging with Thor in respect of Molyhil?

    MB: The people who have indicated an interest in both off-take agreements for the concentrate we will produce, and for project finance, will not enter into a binding agreement until the  feasibility study is complete and they have digested it.

    We cannot move forward until the feasibility study is completed – it is as simple as that.

    MM: Alongside the DFS you have also indicated numerous additional resource extension targets at Molyhil. Can you tell us a little more about this and how you intend to explore these areas of interest?

    MB: It is early days yet for some of these prospects.  Some contain known “at surface” mineralisation of tungsten and/or molybdenum which have not been followed up adequately, others are under cover, but have a similar geophysical (magnetic) signature to Molyhil.  We have commenced some ground geochemical survey activities and will follow up encouraging results with some shallow drilling.

    The process is unlikely to deliver additional resources in 2012, however over the next couple of years, we hope to find sufficient additional resources to expand the scale of throughput at Molyhil, and also extend its life.

    MM: Whilst investor focus has definitely been on Molyhil progress of late, what should investors be focusing on with regard to your gold operations?

    MB: Spring Hill, in particular, is set for an exciting year.  Last year we were not able to commence drilling until the last 2 months of the dry season which curtailed the drilling program.  This season we expect to be able to drill for most of the “dry”, and we are excited at the prospect.  Targets for testing include:

    • Additional mineralisation below the known resource
    • Other targets to the north, south, and west.
    • The deeper “Callie” style target

    At Dundas we have targets to drill test, and we expect that this will happen over the next few months

    MM: You are coming to London for your AGM and are also presenting at MiningMaven on Wednesday 16th May. Why should investors come to hear the Thor Mining story?

    MB: Later this year we expect to commence development of a robust tungsten project which we expect will deliver returns well in excess of our current market capitalisation.  In addition we will be drilling at Spring Hill right next to significant known gold mineralisation.

    I could be accused of bias, but the Thor story is very compelling.  It does not get much better than this!!

    ENDS

    Disclaimer: MiningMaven Principles hold shares in ECR Minerals

    Thor Mining will be presenting to investors at the next

    MiningMaven investor evening at The Counting House on Wednesday 16th May.

    There are still a limited number of places available, to register click here.


    Copyright © MiningMaven 2012

    MiningMaven is licensed under a Creative Commons Attribution-Non-Commercial-No Derivative Works 2.0 UK: England & Wales License. Permissions beyond the scope of this license may be available at http://www.miningmaven.com/

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    All figures quoted have been obtained from the respective Company websites with links provided where available. Errors & omissions excepted.

    This summary represents the views and opinions of MiningMaven, has been prepared for information and educational purposes only and should not be considered as investment advice or a recommendation to buy shares in the company featured. All opinions expressed are those of the author/s and unless otherwise stated, should not be construed as being made on behalf of any featured Company. From time to time MiningMaven principals may take equity positions in companies. Readers are advised to do their own extensive research before buying shares which, as with all small cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of their investment adviser or stockbroker, as they deem appropriate.

    Users may print extracts of content from the MiningMaven for their own personal and non-commercial use only. Republication or redistribution of MiningMaven content is expressly prohibited without the prior written consent of MiningMaven. However, linking directly to the MiningMaven website is permitted and encouraged. All rights reserved. All Logos and Trademarks displayed are the property of the respective trademark owners. Remember to go to theMiningMaven website for free subscription to all our latest updates.

    Written on Wednesday, 09 May 2012 20:02 Be the first to comment!
  • Thor Mining: The Road to Value – February update Q&A
    Thor Mining: The Road to Value – February update Q&A

    On 30th January Thor Mining (AIM, ASX: THR, THRO) released the news of an overall 25% tonnage increase to 4.7 million tonnes in a new resource estimate for their Molyhil tungsten and molybdenum project. On the back of this Hardman & Co released an encouraging update affirming their confidence in the progress the company is making.

    We took this opportunity to put some investor focused questions to Executive Chairman Mick Billing:

     

    Written on Sunday, 12 February 2012 14:57 Be the first to comment! Read more...
  • Thor Mining: The Road to Value – interview
    Thor Mining: The Road to Value – interview

    An interview with Mick Billing, Executive Chairman

    According to Winston Churchill “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."

    For Thor Mining the Global Financial Crisis (GFC) spelt enough difficulty to sink a proverbial ship and, for a while, it did sink their Molyhill Tungsten & Molybdenum project in Australia. But, with grit and determination, the company stabilised and rebuilt by adding two exciting Gold exploration projects in Dundas, Western Australia and Spring Hill, Northern Territories, Australia.

    Now, after a few years of rebuilding, Thor Mining have an enviable portfolio of assets, and with the significantly improved Tungsten price, along with very positive additional drilling work, they could sit on the cusp of re-igniting their original aim, to develop a mine at Molyhill.

    For some time the road to value has perhaps been difficult to see for Thor Mining. But now the road appears to be clearing we thought it was time to speak with Mick Billing, Executive Chairman, who took the time to discuss the progress made since the GFC and the increasingly bright outlook for the company in the future. We hope you enjoy listening!


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    Disclosure: The Authors hold shares in Thor Mining

    Copyright © MiningMaven 2011

    MiningMaven is licensed under a Creative Commons Attribution-Non-Commercial-No Derivative Works 2.0 UK: England & Wales License. Permissions beyond the scope of this license may be available at http://www.miningmaven.com/

    PLEASE DO NOT "CUT AND PASTE" THIS COPYRIGHT PROTECTED CONTENT ONTO BULLETIN BOARDS! DOING SO BREACHES TERMS OF USEAGE POLICIES AND MAY RESULT IN DIRECT ACTION BEING TAKEN BY BULLETIN BOARD OPERATORS. IF YOU WOULD LIKE OTHERS TO VIEW THIS ARTICLE THEN PLEASE POST THE LINK TO IT.

    For free subscription to MiningMaven updates go to our website at:

    http://www.miningmaven.com

    All figures quoted have been obtained from the respective Company websites with links provided where available. Errors & omissions excepted.

    This summary represents the views and opinions of MiningMaven, has been prepared for information and educational purposes only and should not be considered as investment advice or a recommendation to buy shares in the company featured. All opinions expressed are those of the author/s and unless otherwise stated, should not be construed as being made on behalf of any featured Company. From time to time MiningMaven principals may take equity positions in companies. Readers are advised to do their own extensive research before buying shares which, as with all small cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of their investment adviser or stockbroker, as they deem appropriate.

    Users may print extracts of content from the MiningMaven for their own personal and non-commercial use only. Republication or redistribution of MiningMaven content is expressly prohibited without the prior written consent of MiningMaven. However, linking directly to the MiningMaven website is permitted and encouraged. All rights reserved. All Logos and Trademarks displayed are the property of the respective trademark owners. Remember to go to theMiningMaven website for free subscription to all our latest updates.


    Written on Wednesday, 30 November 2011 22:49 Be the first to comment!
  • Thor Mining – A Molyhill Q&A with Mick Billing
    Thor Mining – A Molyhill Q&A with Mick Billing

    Many investors are aware of the move into gold exploration undertaken by Thor Mining (LON:THR) with its two main projects at Spring Hill and Dundas in Australia.

    Before gold however the company was better known for Molyhill, a Tungsten/Molybdenum project, also in Australia.  The global economic collapse of 2008 saw Molyhill development stall, but with much stronger world tungsten prices and a greater global appetite for such projects, Molyhill has sprung back to life.

    Following recent news releases we thought now would be a good time to update MiningMaven readers on progress at Molyhill, so we put a few questions to Mick Billing, Chairman, who was happy to respond as below:

     

     

    MM: Can you provide a brief overview of the historical background of your Molyhil Project? Prospector Lindsay Johannsen first discovered scheelite (which contains tungsten) at the Molyhil Pinnacle in 1973.

    MB: During 1976 and 1977 exploration activity led to the discovery of the Southern ore body magnetite skarn containing both scheelite and molybdenite mineralisation.

    The project was intermittently mined through to 1981 when the tungsten price dropped following a decrease in demand for tungsten.

    Thor Mining PLC (Molyhil Mining Pty Ltd) acquired the Molyhil Project in 2005 and conducted a systematic exploration program to fully evaluate the Molyhil deposit.

    This culminated in a definitive feasibility study (DFS) in 2007 which demonstrated that the project could be profitably mined.

    The Global Financial Crisis of 2008 severely impacted on the price of both molybdenum (in particular) and also tungsten, and project development was deferred.

    In 2011, a significant and sustained improvement in the price of tungsten encouraged the directors to re-assess the commercial viability of Molyhil and a new DFS was commissioned.  The results of this study are expected to be finalised before the end of 2011.

    MM: What are the key features of the Molyhil Project that lend confidence that development may be viable?

    MB: The recent strength of the tungsten price, in particular, bodes well for the project.

    In addition, the independent assessment of the capital & operating cost of the operation suggests a profitable outcome.  The current market price for tungsten APT is US$450/mtu.  After discounting for concentrates, which we will produce, the price we expect to receive is around US$350/mtu.  This compares with a production cost, after molybdenum bi-product credits estimated at US$130/mtu.

    The DFS has been undertaken on the 1st stage open pit only.  There is sufficient in the resource for subsequent expansions of that pit, and also for eventual underground mining if metal prices at the time justify it.

    MM: Can you explain the markets for Tungsten and Molybdenum (the two metals in focus at Molyhil) and what factors should support the maintenance of metal prices during the coming years?

    MB: Both commodities have industrial use.

    The main end-use application for tungsten is in the manufacture of cemented carbides, also known as hardmetals. Cemented carbides (used in the manufacture of pressing, shaping, moulding, and extruding equipment) accounted for around 55% of tungsten consumption in 2010 and are, therefore, the main driving factor behind tungsten demand. The steels and alloying sector represented around 23% of global consumption with tungsten used in tool, stainless and full alloy steels, as well as in superalloys. Mill products manufactured from tungsten metal, which are mainly used as filaments in the lamp industry and for electrical and electronic contacts, had a 14% share of the tungsten market in 2010, while other uses, principally chemical applications and products, such as catalysts and pigments, accounted for the remaining 8%.

    Molybdenum (Mo) is principally an alloying agent in steel, cast iron, and superalloys to enhance hardenability, strength, toughness, and wear and corrosion resistance. The versatility of molybdenum in enhancing a variety of alloy properties has ensured it a significant role in contemporary industrial technology, which increasingly requires materials that are serviceable under high stress, expanded temperature ranges, and highly corrosive environments. Moreover, molybdenum finds significant usage as a refractory metal in numerous chemical applications, including catalysts, lubricants, and pigments.  It also used to remove sulphur from liquid fuels in the petroleum refining process. Few of molybdenum’s uses have acceptable substitutions.

    The rapid industrialisation of China, India, and parts of South America, underpin the continued demand for these commodities in the medium term.

    MM: What options are there for development of Molyhil, in terms of mine funding and practical mine operation?

    MB: Funding options for the development at Molyhil can include a mix of both debt facilities, and equity raising.  In addition we are exploring options for joint venture arrangements which may assist project financing.

    Mine operation will be carried out on a contract basis where practical.

    Key to the proposal is securing of off-take agreements for tungsten and molybdenum concentrates, and we are actively seeking these currently.

    MM: Should Molyhil be developed, what value could that create for the company and its shareholders?

    MB: The net present value of the 1st stage pit at Molyhil is still to be calculated (expected before the end of 2011), however we believe it should be at a level which will justify development.

    We would then hope to deliver attractive returns for shareholders over a number of years, which would be allocated to dividend payments and the search for and development of new projects.

    Can you clarify what newsflow investors could look forward to over the coming six months, in respect of Molyhil and company gold exploration activities?

    In the coming months, investors can expect the following:

    Molyhil

    • Diamond drilling results
    • Revised resource model
    • Revised ore reserve and mining plan
    • Results of the definitive feasibility study
    • News relating to agreements for  marketing of concentrates

    Gold

    Spring Hill

    • Drilling results from Spring Hill diamond drilling (in progress)
    • Revised (expanded) resource estimate
    • Scoping & pre-feasibility study estimates

    Dundas

    • Drilling the Bifrost & Algron targets
    • Further surface sampling

     

    ENDS.

     

     

    Disclosure: The Authors hold shares in Goldstone Resources

    Copyright © MiningMaven 2011

    MiningMaven is licensed under a Creative Commons Attribution-Non-Commercial-No Derivative Works 2.0 UK: England & Wales License. Permissions beyond the scope of this license may be available at http://www.miningmaven.com/

    PLEASE DO NOT "CUT AND PASTE" THIS COPYRIGHT PROTECTED CONTENT ONTO BULLETIN BOARDS! DOING SO BREACHES TERMS OF USEAGE POLICIES AND MAY RESULT IN DIRECT ACTION BEING TAKEN BY BULLETIN BOARD OPERATORS. IF YOU WOULD LIKE OTHERS TO VIEW THIS ARTICLE THEN PLEASE POST THE LINK TO IT.

    For free subscription to MiningMaven updates go to our website at:

    http://www.miningmaven.com

    All figures quoted have been obtained from the respective Company websites with links provided where available. Errors & omissions excepted.

    This summary represents the views and opinions of MiningMaven, has been prepared for information and educational purposes only and should not be considered as investment advice or a recommendation to buy shares in the company featured. All opinions expressed are those of the author/s and unless otherwise stated, should not be construed as being made on behalf of any featured Company. From time to time MiningMaven principals may take equity positions in companies. Readers are advised to do their own extensive research before buying shares which, as with all small cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of their investment adviser or stockbroker, as they deem appropriate.

    Users may print extracts of content from the MiningMaven for their own personal and non-commercial use only. Republication or redistribution of MiningMaven content is expressly prohibited without the prior written consent of MiningMaven. However, linking directly to the MiningMaven website is permitted and encouraged. All rights reserved. All Logos and Trademarks displayed are the property of the respective trademark owners. Remember to go to theMiningMaven website for free subscription to all our latest updates.

    Written on Wednesday, 09 November 2011 10:39 Be the first to comment!
  • Thor Mining: Q&A with Chairman Mick Billing
    Thor Mining: Q&A with Chairman Mick Billing

    In a world as financially confused and worrisome as we have today it seems to some that precious metals and notably gold are one of the few places where investors can find security.  Of course holding the precious metals themselves are not the only option, with Precious Metals Mining and Exploration shares also providing an alternative, which although carrying exciting potential, have been somewhat frustrating to date.

    Looking at Gold in particular the Miners and Explorers should offer leveraged returns to the price of the underlying metal, because most business runs along the principle that the higher the product price generally the higher the value of one’s stock in trade and the greater the potential profitability.  Gold shares, to date, have lagged way behind the move in the price of the metal, and whilst we can’t predict how long that will take to change, change it inevitably must!

    Written on Sunday, 21 August 2011 20:50 Be the first to comment! Read more...
  • Thor Mining: The Courage to Continue!
    Thor Mining: The Courage to Continue!

    Winston Churchill famously said: “Success is not final, failure is not fatal: it is the courage to continue that counts.” So we believe it is with Thor Mining, This mining and exploration tiddler is very much a survivor; having lived through the market implosion of 2008 and taken some bold decisions in its wake, Thor Mining now finds itself with a portfolio of relatively heavyweight Australian assets and is now set to develop these assets and drive them up the value curve.

    With economics at their Molyhil molybdenum/tungsten “mine in waiting” becoming increasingly viable, Thor’s bold decision to move into gold has been more than vindicated. The geography and geology at both gold prospects, Dundas and Spring Hill, are compelling and early exploratory drilling is producing promising results.

    Written on Sunday, 22 May 2011 21:51 Be the first to comment! Read more...