Significant maiden JORC resource estimate for the Desert Scheelite Deposit completed by independent consultants, Golder Associates, exceeds guidance by 36%.
Indicated and Inferred Resource of 6.79Mt @ 0.31% tungsten trioxide (WO3), 22.8g/t silver and 0.17% copper reported at a 0.2% WO3 cut-off with 90% of this resource in the "Indicated" category. Resource contains;
WO3 = 21,000 tonnes x £1667 per tonne = £350m Gross NPV value
Copper = 11,339 tonnes x £5000 per T = £57m Gross NPV
Silver 4.9m oZ x £14 per ounce = £68m Gross NPV
Total = £475m Gross NPV based on JORC 202 Resource figures
£475m did by 367m shares in issue = 130p Gross NPV before Capex costs
This is all before any possible upgrades to the resources
THR Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
