Resources business Thor Mining’s flagship asset is its 100pc owned Molyhil tungsten project in the northern territory of Australia. A feasibility study for the advanced project gave it total project revenue of more than A$500m over a seven-year mine life, an NPV(5) of $101m, and an internal rate of return of 59pc.
Adjacent to Molyhil, Thor owns a 40pc stake in Bonya, which contains deposits of tungsten, copper, and vanadium. It is also acquiring up to 60pc of Australian copper development business Environmental Copper Recovery (ECR). ECR, in turn, holds right to earn up to a 75pc stake in the mineral rights and claims over a resource on a portion of the historic Kapunda copper mine in South Australia.
Outside of Australia, Thor owns 100pc of the Pilot Mountain tungsten project. This is based in Nevada, USA, where tungsten has been defined as a critical mineral. Pilot Mountain has a JORC indicated and inferred resource estimate for two of its four known deposits. Finally, the company has an interest in ASX-listed Hawkstone Mining, which owns a lithium project in Arizona.