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(Sharecast News) - Resources company Thor Mining posted an interim loss on Friday as the group continued to develop its tungsten plays throughout the period.
The pre-revenue firm booked a loss of ?479,000 for the six months ended 31 December and ended the period with ?316,000-worth of cash and equivalents.
On the operational side of things, Thor highlighted some success at the ISR Copper property - where a field pump test was completed for its Kapunda project.
The AIM-listed group's maiden resource estimate for several deposits at the site has an inferred resource estimate of 66.1m tonnes of 0.17% copper.
Thor also upgraded resource estimates at its Molyhil tungsten and molybdenum project, defining 4.7m tonnes at 0.28% tungsten trioxide, 0.14% molybdenum, 0.05% copper and 18% iron.
The group also cautioned that the recent weakness in copper prices was potentially a response to coronavirus.
As of 1145 GMT, Thor shares were dpwm 18.99% at 0.19p.
22 Oct 2019 10:16
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