Thor Mining reveals stable financial position and exciting progress plans in quarterly results (THR)

31 Jul 2019 | by: Patricia Miller

Thor Mining sat at 0.68p on Tuesday morning after releasing a set of quarterly results that saw it reveal a robust financial position and a healthy outlook for all of its assets.

In its figures for the three months ended June 2019, the business said its cash position remains ‘sound’, with enough funds in place to cover its scheduled field programs for the remainder of the year. Elsewhere on the financial side, Thor said that it expects to recover just over A$200,00 in annual research and development costs in the September quarter.

Moving on to portfolio progress, the April to June quarter saw Thor make a great deal of progress at its flagship Molyhil tungsten project in the Northern Territory of Australia. Throughout the period, it launched marketing activities to lock-in project finance, and off-take agreements for tungsten and molybdenum concentrates from the project. Meanwhile, its metallurgical drill samples at Molyhil produced high-grade tungsten, molybdenum and copper assays, and it achieved strong results from drilling at its nearby Bonya tenements.

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