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Thor Mining Receives Positive Ore-Sorting Test Results
LONDON (Alliance News) - Thor Mining PLC Thursday said it has received positive results from ore-sorting test work at the Molyhill tungsten project in Australia.
The mineral and development company said the tests on ore sorting, which upgrades and separates ore before it is crushed, have shown that the company can reduce downstream processing costs.
The sorting process means there is a lower level of loss from the old system which generally meant a loss of between 2% and 3% of the tungsten from ore crushing.
"The reduction in plant capacity and throughput brought about by ore sorting generates a reduction in operating costs which, with a number of other savings we have identified, has the potential to deliver significant benefits for the project," Executive Chairman Mick Billing said in a statement.
Thor Mining shares were up 5.5% to 0.290 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
Copyright 2013 Alliance News Limited. All Rights Reserved.
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