Thor Mining PLC (ASX: THR) – $0.002 (+100%)
12 Jan 2015
Thor Mining PLC (ASX: THR) has upgraded its Feasibility Study at its wholly owned Molyhil Tungsten Project in the Northern Territory (Figure 1).
The Feasibility Study highlights include:
- Project payback period of 18 months after payment of royalties and tax
- Net Present Value of A$67.0m with an Internal Rate of Return of 44% after tax and royalty payments
- EBITDA of A$201.0m
- Cash production cost of US$112/mtu concentration compared with revenue of US$358/mtu
- Capital expenditure of A$70.0m
- Six year mine life
- Open cut mining operation
Figure 1. Location of Molyhil Tungsten Project
The company’s first priorities for the Molyhil Project involve securing off-take agreements and finance for development of the project. The next steps involve detailed engineering studies, completion of the Mine Management Plan and onsite civil works in preparation for mine and process plant construction and development.
For further information, visit www.thormining.com
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