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Share Price Information for Thor Energy (THR)
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IN BRIEF: Thor Energy gives updated Molyhil project estimate
Thor Energy PLC- exploration company with prospective projects in Australia and US - Says diamond drilling programme at Molyhil project has "resulted in a significant improvement in resource confidence". The project is located at the Molyhil tungsten-molybdenum-copper deposit in the Northern Territory, Australia. The resource estimate now includes 4.65 million tonnes at 0.26% tungsten trioxide. It notes a 150% rise in tonnes and a 20% increase in grade.
The updated results mean Investigator Resources Ltd, farming in to the project, is now entitled to a 25% interest in the project, as specified under a prior agreement.
Thor Energy Managing Director Nicole Galloway commented: "This is a positive result for the project, and along with strong tungsten and molybdenum prices, it will be valuable for the scoping study assessment to be undertaken by IVR early in Q3, 2024."
Current share price 0.87 pence
12-month change: down 68%
By Aidan Lane, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Latest THR News
- Thor Energy partners with Fleet Space for mineral exploration
4 Sep 2023 - Thor gets needed approvals for new drilling programme
17 Aug 2023 - AIM WINNERS & LOSERS: Tremor cuts guidance after soft first half
17 Aug 2023 - Thor Energy gets all approvals needed for Colorado projects drilling
17 Aug 2023 - UK shareholder meetings calendar - next 7 days
16 Aug 2023 - IN BRIEF: Thor Energy proposes share consolidation to reduce shares
4 Aug 2023 - AIM WINNERS & LOSERS: Ilika up as inks 10-year manufacturing licence
4 Aug 2023 - TRADING UPDATES: Spectral does not expect delay to Rosecliff deal
1 Aug 2023
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