The AIM-listed company said that the tungsten resource sector "considerably strengthened" during 2017 and in the first quarter of 2018, as global APT tungsten prices were at its highest since December 2014.
Thor Mining said it currently has around
For the exploration and development company's Molyhil tungsten-molybdenum mine in
Thor Mining also said that it commenced in February a scoping study for its Pilot Mountain tungsten, silver and copper project in the US state of
At its third key interest, the Kapunda mine in
Thor Mining Executive Chairman Mick Billing said: "It is the view of the board that the time has come to absolutely focus our efforts on Pilot Mountain, Molyhil and Kapunda. The recently published progress achieved in respect of each project has been considerable and we are of the view that the best outcome for shareholders will be achieved from the absolute concentration on our core interests each of which is in the board's view capable of delivering company transforming outcomes."
"Our main business investment decisions will be strictly focused on the Pilot Mountain, Molyhil and Kapunda projects and any directly related and compatible developments from a geographic, commodity and strategic perspective."
"Further news will follow across our business in what is increasingly an exciting period for the company. Make no mistake there is plenty of work still to do, however with a fair wind and robust commodity markets we are exceptionally well positioned."
Thor Mining shares were up 14% at
Thor Energy (THR)