Thor Mining Reduces Costs for Planned Molyhil Tungsten Project

Thor Mining plc (ASX:THR) announced that new work, including ore sorting and better metallurgical processing, has resulted in a 13-percent cost reduction at its Molyhil tungsten project, located in Australia’s Northern Territory.

As quoted in the press release:

The new work shows cost reductions to date of approximately A$12 a tonne, a 13% easing from the A$90/tonne in the 2012 DFS.

The 2012 Molyhil DFS highlighted that a 7% improvement in revenue factors (or the equivalent) was required to increase the Molyhil ore reserve by 50%, and extend the life of the proposed operation from 4 years to 6 years. Subsequently, the Thor team has sought to deliver that 7% improvement as a minimum enhancement to the DFS.

Click here to read the full Thor Mining plc (ASX:THR) press release.