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Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"This is a fabulous result for Thor and its shareholders as it validates the high-quality Alford East Project. The successful grant is a strong endorsement of the technical merits of the project by the South Australian Government.
The Alford East Project is an exciting opportunity for Thor shareholders at a time of record copper prices.
The $300,000 funding will significantly expediate our exploration and development program for the Alford East ISR Project, with diamond drilling commencing shortly with the objective to increase the resource size and commence hydrometallurgical studies.
We acknowledge and thank the Department of Energy and Mining (DEM) and the SA Government for this positive exploration initiative."
Great news. This should send the SP over 1p again
Agreed chub...
End of day should see Thor with a healthy support of the penny if not 1.05 with sights on price being up at 1.10. Looking ahead to encroach the 1.2 regions
The charts from what I see are shouting this out irrelevant of the very welcome news today so all the better for it.
1.20 - 1.40 could be here soon.
Excellent news today. Already got over 400,000 tonnes of copper with lot more to come.
Ragged range and Uranium/ Vanadium drilling to commence also. THOR active on 3 key projects with all commodity prices on the rise.
This is significantly Undervalued at this low Mcap
1.20 - 1.40 could be here soon.
Excellent news today. Already got over 400,000 tonnes of copper with lot more to come.
Ragged range and Uranium/ Vanadium drilling to commence also. THOR active on 3 key projects with all commodity prices on the rise.
This is significantly Undervalued at this low Mcap.
Imo it’s not the end game here for THR in terms of grants/govt support.
The A$300k grant is a decent lump for one company. It works out to around 200k for each of the 22 companies but we got 50% more. Imo that is because the govt are keen to trial the new technology because it has higher recovery rates than traditional mining methods and a much lower environmental footprint. It also provides a faster route to market = faster tax revenues.
If Thor’s trial is successful it will become a paradigm for others.
If you haven’t familiarised yourself with ISR it’s worth going through this presentation. Note the chemicals are also FDA approved!
https://www.enviroleach.com/conventional
Trek
A strong endorsement on the ISR copper project! There's a lot of value here...
@ trek.... thanks for that posting. I was a little vague on ISR, but that video was very simple and easy to understand. Really helped.
Gut reaction tells me it’s a no brainer for future mining techniques.
Do you know or aware if they are able to collect just as much of the “said” metals as they would in more traditional methods? It “sounds” too good and easy despite proven hence my thoughts on retrieval comparatives.
Trek. Good post.
I think Nicole said in her interview the ISR technique already been in use for Uranium if i remember correctly.
Time to load up here now i think. Mcap not going to stay low at £16m forever with 3 hot commodities projects getting underway with lot more news to come.
I asked Enviro Copper if they had been asked to work on the Uranium project. They say its more expensive and not really their business model. They are fully focused on Copper ISR. Cheaper & more environmentally friendly.
“Do you know or aware if they are able to collect just as much of the “said” metals as they would in more traditional methods?”
It’s is at least comparable if not more productive because it recovers smaller particles. You just keep repeating the process until there are no more deposits. So we actually capture those small deposits what would be sought by tailings companies targeting old mine spoils with older extraction techniques.
And the modern leeching solution is from food grade material. You could drink it!
I really don’t think the penny has dropped with the potential here and Thr will be the first mover in Oz for copper/gold extraction using ISR with government backing.
This is really pioneering but with proven tech. Once in place we will be the go to miner for that experience.
Trek
Thanks trek... I did wonder if that’s what the “rinse and repeat” actions resulted in.
I’ll let you try it first!