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Mining Weekly reported Thor Mining’s (ASX:THR,LSE:THR) Molyhil tungsten and molybdenum project in Australia is economically viable according to a new study.
Mining Weekly reported Thor Mining’s (ASX:THR,LSE:THR) Molyhil tungsten and molybdenum project in Australia is economically viable according to a new study.
As quoted in the market news:
At a capital expenditure of A$70-million, the Molyhil operation was estimated to have a life-of-mine of four years producing some 2 000 t/y of tungsten and around 1 200 t/y of molybdenum, with a net present value of A$28-million and in internal rate of return of 24%.
The earnings before interest and tax returns would provide for a 21-month payback period, Thor said on Monday.