"Hope you don't mind me re-posting on here: Look at the figures...

"Hope you don't mind me re-posting on here: Look at the figures guys- says it all....ohhh and the figures are likely to vastly improve due to the recent drilling results

I did some rough figures on phase 1 previously (see below), BUT this was before the increased Tungsten recovery figure was announced (I guessed at 5%) and BEFORE the size of the resource was increased (talking about a mine life of 7-10 years now).

Let’s put some numbers to it from information already known:

Phase 1 -

1.4 million tonnes of ore.

400,000 tonnes processed per year.

Cash operating margin A$98/Tonne

So A$ 39,200,000 per year.

Add in additional floatation recovery, Harman report suggests up to 10% is feasible so let’s say

5% to be conservative. Each % adds A$900,000 additional revenue so that’s another A$ 4,500,000 per year.
http://www.lse.co.uk/ShareChat.asp?ShareTicker=THR&share=thor_mining


'So looking at, before increase in grades which are indicated from latest drill results:

A$ 43,700,000 operating profit per year.

Therefore first stage will generate A$152,950,000.

From memory the mine life from the previous figures was 5.5 years, no details of stage 2 yet.

Again 5.5 years would be a minimum as the figures they are working on at the moment should extend the size of the resource significantly.

Not going to take long to pay off the CAPEX cost (AUS $66 million) , about 1.5 years by my reckoning"