Thor Mining in Molyhill concentrate off-take deal

Thor Mining has received a Letter of Intent from US-based Global Tungsten & Powders Corp. of Pennsylvania(GTP) in respect of scheelite concentrate off-take arrangements for Thor’s wholly owned Molyhil tungsten project in the Northern Territory of Australia.

The Letter of Intent provides terms for a future off-take agreement, subject to successful technical and legal due diligence, and also to Thor securing necessary funding to develop the Molyhil project, including:

- Off-take for in the order of 70-75% of the annual production of scheelite concentrate from Molyhil.

- Off-take for the current 4 planned year life-time of the mine with right of first refusal to a 2 year extension term.

- A market price of the scheelite concentrate based on discounts to the London Metal Bulletin (LMB) Low Tungsten APT European free-market price.

Story provided by StockMarketWire.com

MoneyWeek magazine

Latest issue:

Magazine cover
Don't be spooked by Putin

Take a punt on eastern Europe

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

More from MoneyWeek

FREE REPORT:
What you should really do with your money (2014 Edition)


How to buy and sell penny shares

A beginner's guide to investing in gold

How to invest in British fracking

Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.