a lot more than meets the eye here,just be ready Off Take Agreement
Thor Mining, however, added a further statement today sparking more speculation amongst investors in online forums. [1]
“The directors of the company do not expect any discussions relating to concentrate off-take agreements, and project financing to result in offers for either of these facilities prior to the completion and publication of the results of the Molyhil Definitive Feasibility Study (DFS),” Thor Mining noted. [1]
An online media, nonetheless, reported there were a number of parties Thor Mining is in discussions with regarding offtake agreements and project financing for the Molyhil tungsten and molybdenum project. [4]
An off-take agreement with CITIC Australia Trading Limited, one of China’s state-owned companies, has lapsed that would have ensured a buyer of all molybdenum and tungsten concentrates produced from the Molyhil project. [5]
In its half-year report released last Monday, Thor Mining admitted they have already commenced the move to secure offtake agreements. [6]
“On completion of the DFS, the next stage of activities will involve securing off-take agreements for the concentrates to be produced and finance for the development. These processes have already commenced and it is hoped that these will be secured in time to allow project development to commence in the second half of 2012,” Chief Executive Mark Billing stated on the half-year report.
THR Price at posting:
3.3¢ Sentiment: None Disclosure: Held
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