https://www.engineeringnews.co.za

Thor takes full ownership of Spring Hill

30th April 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Minerals developer Thor Mining has acquired full ownership of the Spring Hill gold project, in the Northern Territory in a deal valued at A$310 000.

Thor on Thursday announced that it had acquired a 49% equity in the project from joint venture partner WDR Gold, a subsidiary of Western Desert Resources, which is currently in liquidation.

Under the terms of the agreement, Thor would pay A$210 000 in cash and A$100 000 worth of Chess depository interests in Thor, payable upon Ministerial agreement to the transfer, which was expected within two months.

“Acquiring the balance of Spring Hill at modest cost is a sound and robust opportunity, particularly with the recent firming of the gold price,” said Thor executive chairperson Mick Billing.

“Spring Hill is a quality gold project with potential for low-cost, near-term profitable development; Thor will be exploring all opportunities to secure maximum benefit from full ownership,” he added.

The project is located some 150 km from Darwin, and is considered highly prospective for gold, with four main zones of gold mineralisation identified.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 0.951s - 140pq - 2rq
Subscribe Now