Wed, 12th Mar 2008 08:52 LONDON (Thomson Financial) - Traders dug into Thor Mining, 1-1/4 up at 7-1/4 pence, following
news of an off-take agreement with CITIC Australia Commodity Trading for its Molyhil tungsten-molybdenum project in the northern territory of Australia.
Again on the upside, Falkland Oil & Gas edged up 1-1/2 to 129-1/2 as widening full-year losses fell in line with market expectations.
The group's year-end cash of 12.5 mln stg will fund a significant proportion of the near term drilling, but Daniel Stewart points out that a fund-raising will most likely be required pre-drilling. The broker, meanwhile, maintains its 'hold' recommendation until a rig date is announced.
tf.TFN-Europe_newsdesk@thomson.com
fjb/sal
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.