Thor Mining {ASX / AIM: THR}

Released the results of its latest DFS for the company’s Molyhil tungsten and molybdenum project in the Northern Territory of Australia, revealing that over the next seven years project revenue will be in excess of $500 million.

The project will have an EBITDA of A$245 million, with a payback period of less than 18 months. Thor is targeting first production  for early 2020.

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Thor Mining {ASX / AIM: THR} –  Released the results of its latest DFS for the company’s Molyhil tungsten and molybdenum project in the Northern Territory of Australia, revealing that over the next seven years project revenue will be in excess of $500 million.

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The project will have an EBITDA of A$245 million, with a payback period of less than 18 months. Thor is targeting first production  for early 2020.

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Mick Billing, Executive Chairman of Thor Mining commented “I am delighted to release the results of the DFS update that shows a net present value exceeding A$100 million and demonstrates the substantial value this project holds for the company and its shareholders.”

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“Molyhill is 100% owned by Thor Mining and is construction ready subject to submission of an acceptable mining management plant and finalisation of project level mine construction financing.”

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Thor’s share price trade at around 2p on the London AIM market.

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