proactive investors

Thor Mining’s new non-executive director bolsters board ahead of Definitive Feasibility Study
Thursday, April 12, 2012 by Christine Feary


Thor Mining (ASX: THR, AIM: THR) has welcomed mining engineer David Thomas as a non-executive director as the company works towards a Definitive Feasibility Study for the Molyhil Tungsten and Molybdenum Project.

Thomas has experience in all facets of the mining industry, and importantly is experienced in project management and the completion of feasibility studies.

He has worked as a consultant in various parts of the world and has also worked for major companies such as Anglo American (LON: AAL) in Zambia, Selection Trust in London, BP Minerals, WMC and BHP Billiton (ASX: BHP) in Australia in senior positions in mine and plant operational management.

Thor executive chairman Mick Billing said Thomas’ appointment added a “tremendous depth” of mining industry background to the company’s board.

“As we make the transition from explorer / developer to developer / miner we will benefit significantly from his input and accumulated experience,” Billing said.

Improved economics at Molyhil

Earlier this month Thor announced that tungsten recovery for the Molyhil project had been lifted to 85%, an increase of 27% on the figure estimated in the project’s Feasibility Study.

The increase in recovery grades should make a difference to the early economics and early payback of capital, and could also extend the mine life.

The increase was achieved through adding a flotation step to the tungsten recovery process, after gravity separation, a process was identified by test work undertaken by metallurgical testing and mineral beneficiation consultants Nagrom & Co.

Results from the test work will be incorporated into the economic ore reserve and mining plan calculations for the Molyhil Definitive Feasibility Study.

Following the completion of the Feasibility Study, Thor will need to secure offtake agreements and finance for Molyhil before the company will move to tender for design, construct and EPCM work.

Billing told Proactive Investors that Thor was on track for production from Molyhil in late 2013.