Molyhil More Profitable Under Upgraded DFS

Thor Mining plc (LSE:THR) announced that the upgraded feasibility study for its Molyhil tungsten project has been completed and has augmented the project’s economic potential.

As quoted in the press release:

Project payback period of 18 months after payment of royalties and taxation

All equity Net Present Value (NPV) of A$67 million with an Internal Rate of Return (IRR) of 44%, after taxation & royalty payments.

EBITDA of A$20 1million Cash production cost of US $112/mtu concentrate compared with revenue of US $358/mtu

Thor’s executive chairperson, Mick Billings, stated:

The Molyhil project has taken a significant step forward with this enhanced feasibility study. The returns are very attractive, and cash flow available from debt servicing of 2.5 times project capital costs. Substantial work has been undertaken to improve costs and we believe that Molyhil has a very attractive cost structure and a low start-up capital expense.

Click here for the full Thor Mining plc (LSE:THR) press release