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0.55 0.00 (0.00%)

Bid:

0.50

Ask:

0.60

Spread: 0.10 (20.00%)

Market Cap: £5.67m

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IN BRIEF: Thor Mining shares jump on Kapunda study funding

Tue, 09th Aug 2022 16:50

Thor Mining PLC - Australia-focused exploration and development company - Says OZ Minerals Ltd agrees to provide AUD2.5 million, around GBP1.4 million, funding support for technical investigations into in situ recovery technology at EnviroCopper Ltd, Kapunda copper-gold ISR project in South Australia. Thor holds a 30% stake in ECL, and the funding will be non-dilutive to its holding. The funds will be used to continue studies into the potential economic extraction of copper resources via ISR, Thor says.

"This is a validation of the previous work by ECL on In-Situ Recovery of copper at the Kapunda project, in cooperation with the Commonwealth Scientific & Industrial Research Organisation and the University of Adelaide under a CRC-P grant," says Managing Director Nicole Galloway Warland.

Current stock price: 0.52 pence, up 9.4% on Tuesday in London

12-month change: down 29%

By Elizabeth Winter; elizabethwinter@alliancenews.com