Thor Mining - Economically robust project. Speculative Buy

 

 

Thor Mining	Update 2nd July 2012
Economically robust project	Speculative Buy     Target price 4.1p     Key data Price 1.30p 52 week high/low 2.28p/0.95p Primary exchange AIM EPIC THR Shares in issue 806m Market Cap £10.5m Sector Mining       Valuation   EV/EBITDA n/a P/E n/a NAV / Share 1.16p TNAV / Share 0.20p     Previous note Healthy newsflow developing with completion of the Molyhil DFS to come     Future event Negotiating Molyhil concentrate sales and finance agreements     Affiliations: None     Important: All disclaimer information can be found on the last page of the document
Thor Mining, the Australia focused gold and base metals explorer, has just announced the Definitive Feasibility Study (DFS) on its 100%-owned Molyhil tungsten-molybdenum project in Australia's Northern Territory. The DFS reveals that Molyhil can deliver attractive financial returns as well as the early payback of the capital required for its development. On the back of the value that is in the process of being unlocked at the company, our recommendation is speculative buy. Click to download Full Report
Table: Financial overview Year to 30th June 2009A 2010A 2011A 2012E Revenue (£m) 0.00 0.00 0.00 0.00 PBT (£m) 1.23 1.76 2.85 3.00 EPS (p) 0.77 0.79 0.65 0.40 Dividend (p) 0.00 0.00 0.00 0.00 Yield (%) 0.00 0.00 0.00 0.00

 

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