THOR Mining says it is still awaiting assay results from drilling at Molyhill in Australia’s Northern Territory to identify possible incremental mineralisation at the property.
The miner says developing the Molyhill tungsten-molybdenum project remains its main focus. It says it has met with many potential financiers and partners with a view to getting the project into operation.
The company says a decline in international molybdenum prices has pushed the development timetable back until product pricing is more conducive for the necessary capital raising.
Thor says it will continue to explore its portfolio of tenements for economic deposits of uranium and rare earths.
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