Thor calls in fund hunters
PERTH (miningweekly.com) – Mineral developer Thor Mining has appointed corporate advisers to lead the hunt for funding to develop the Molyhil tungsten project, in the Northern Territory.
The company noted that London-based Grant Thornton Corporate Finance had already introduced a number of suitable parties, which were conducting reviews on the Molyhil project, as well as on Thor.
Brookville Capital, and its Australian associate Grand Private Equities, have also been mandated to do the same.
A recent upgraded feasibility study into the Molyhil project estimated that a capital injection of A$70-million would be required to allow for the development of a mine producing 2 000 t/y of tungsten and 1 200 t/y of molybdenum, with a mine life of six years.
“We believe the Molyhil project is robust and we are pleased to have secured the services of these eminently qualified advisers, and that a number of entities are conducting a review,” said Thor executive chairperson Mick Billing.
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