Thor Mining - Quarterly activities report

Thor Mining Quarterly activities report Thor Mining, the Australian focused gold and base metals explorer, has just announced a Quarterly Activities Report that not only well illustrates the progress which has been made in Q2, but gives a good outlook of what is likely to be achieved in Q3. Marketing and financing activities are planned for the current quarter as well as an on-going enhancement programme at its 100%-owned Molyhil tungsten-molybdenum project in Australia's Northern Territory. Meanwhile, at the gold projects, there is drilling activity at Spring Hill and preparation for follow-up air core and reverse circulation drilling at Dundas. On the back of the value that is in the process of being unlocked, our recommendation is speculative buy. Click to Download Full Report Table: Financial overview Year to 31st 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 Source: GECR and company Speculative Buy Target price 4.1p Key data Price 1.03p 52 week high/low 2.28p/0.95p Primary exchange AIM EPIC THR Shares in issue 806m Market Cap £8.26m Sector Mining Valuation EV/EBITDA n/a P/E n/a NAV / Share 1.16p TNAV / Share 0.20p Affiliations: None Important: All disclaimer information can be found on the last page of the document

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