Ann: MOLYHIL ORE SORT SUCCESS , page-10

4/10/13
@DDS_Doc_Holiday: Thor Mining have some mild pickup coupled with funding and golds relief its only a matter of time before it breaks the shackles of 0.27-0.35

Buy Thor Mining at 0.325p
By Doc Holiday — Thursday 5 September 2013

AIM and ASX listed Thor Mining (THR) is a mineral and Development Company with an advanced tungsten/molybdenum project poised for development and exciting precious and base metal exploration projects. A £3.2 million market cap does not discount this.

Thor is typical of miners in its peer group in that its shares have tanked. The dual listing often seems to encourage miscommunication which has made survival tough in what are diabolical times in a capital intensive industry.

But maybe the times (or at least investor sentiment) are a changing.

Speaking on July 31st Mick Billing, Executive Chairman of Thor Mining, said:
"Like many junior resource companies, Thor is encountering trying market conditions, and we are grateful to those shareholders who have remained loyal during this period. We are fortunate to hold resources at both Spring Hill and Molyhil which have value, well in excess of market capitalisation.

At Molyhil while progress in obtaining off-take agreements and finance has been slower than we expected, we remain active in both enhancing the project parameters, and continuing discussions with potential off-take and finance partners. In the meantime, the recent studies for Spring Hill have proved very encouraging and the potential for development with very low capital expenditure has been substantially enhanced."

The share price has witnessed an aggressive pullback after hitting highs of 0.60p in late August 2013 which may well be another simple (yet typical) example of the wholesale price being welcomed before confirming a trend reversal.

During the past 12-24 months the company has traded at 4-8 times the multiple of the current share price, Markets are looking a bit more receptively at this sort of story so for this reason I offer a BUY recommendation at 0.325p