An exploration and development company, with a significant tungsten/molybdenum project, has released a feasibility study that reveals more than A$500mn in revenue.
Thor Mining released the results of its latest Definitive Feasibility Study (DFS) for the company’s Molyhil tungsten and molybdenum project in the Northern Territory of Australia, revealing that over the next seven years project revenue will be in excess of $500 million.
The project will also have an EBITDA of A$245 million, with a payback period of less than 18 months.
Thor Mining is also targeting first production at the project for early 2020.
“I am delighted to release the results of the DFS update that shows a net present value exceeding A$100 million and demonstrates the substantial value this project holds for the company and its shareholders,” said Mick Billing, Executive Chairman of Thor Mining.
“Molyhill is 100% owned by Thor Mining and is construction ready subject to submission of an acceptable mining management plant and finalisation of project level mine construction financing.”
Molyhil is located 220 kilometres north-east of Alice Springs (320km by road) within the prospective polymetallic province of the Proterozoic Eastern Arunta Block in the Northern Territory.