Thor Acquires Interests in Tenements Near Molyhil

Following a March announcement, Thor Mining has acquired interests in tenements adjacent to its Molyhil tungsten project in Australia’s Northern Territory.

Thor Mining (ASX:THR, LSE:THR) has received ministerial approval to acquire tungsten, copper and vanadium tenements adjacent to the company’s Molyhil tungsten project in Australia’s Northern Territory.

Through the agreement, Thor is acquiring a 40-percent interest in exploration license EL29701 and a 100-percent interest in exploration license EL29599; the former hosts 13 outcropping tungsten deposits, the Bonya copper deposit and the Jervois vanadium/titanium deposit. Meanwhile, the latter license is considered prospective for copper mineralization.

Executive chairman Mick Billing expressed his excitement about the expansion in a statement, highlighting how the Molyhil project will benefit from the acquisition.

“This is outstanding news for the Molyhil development. The potential to increase both the scale and the life of the proposed Molyhil operation is very exciting,” he said.

“The proximity of the Bonya deposits to Molyhil should add significantly to the project economic returns, dovetailing with our commercialisation strategy for Molyhil.”

Thor will be contributing a consideration of AU$550,000 in fully paid shares as part of the agreement. In the meantime, Rox Resources (ASX:RXL) and Arafura Resources (ASX:ARU) are working on a Deed of Assumption for Thor to take Rox’s place in a joint-venture that encapsulates the Bonya tenements.

When the sale was first announced in March, Rox managing director Ian Mulholland commented on the win-win situation that would present itself for both companies.

“The Bonya project has a number of areas of outcropping tungsten and molybdenum mineralization, and when added to Thor’s nearby Molyhil tungsten and molybdenum mineral resources, it makes a very exciting project,” he said in a statement.

“Rox will retain a significant exposure to any future developments at Bonya and Molyhil through its shareholding in Thor and will allow the company to place a clear focus on its other projects in Western Australia.”

The Bonya tenements are located in the Eastern Aileron Province between the Jervois base metals deposits to the east and the Molyhil tungsten molybdenum deposit to the west.

Thor’s stock price grew 13.04 percent to AU$0.026 per share by the end of trading on Tuesday (September 25).

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

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The Investing News Network (INN) spoke with analysts, market watchers and insiders about which trends will impact this sector in the year ahead.
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Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core Services, Richard Cohen, joined community members, local businesses and representatives from local government to celebrate the official opening of its new community ‘Hub’ in Karratha. Located on Ngarluma country in the heart of Karratha’s CBD, the new Rio Tinto Karratha Hub will make it easier for local …

Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core Services, Richard Cohen, joined community members, local businesses and representatives from local government to celebrate the official opening of its new community ‘Hub’ in Karratha.

Located on Ngarluma country in the heart of Karratha’s CBD, the new Rio Tinto Karratha Hub will make it easier for local people to connect with our busines.

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Thor Mining has completed a first-stage exploration program at the Samarkand tungsten deposit, located within the Bonya project

Diversified explorer Thor Mining (ASX:THR,LSE:THR) has announced the completion of its first stage exploration program of the Samarkand tungsten deposit located within the Bonya project in the Northern Territory of Australia.

Thor acquired Bonya in mid-2018. Samarkand is one of 13 tungsten deposits at the Bonya project.


The exploration program targeting Samarkand resulted in the discovery of an extensive tungsten mineralization, which included several high-grade zones.

The Bonya tenement, which is also home to a copper and vanadium deposit, is a joint venture between project operator Thor, which owns 40 percent, and Arafura Resources (ASX:ARU), owner of the remaining 60 percent.

“We now have confirmed tangible evidence of extensive surface outcropping tungsten mineralization at Bonya, including mineralization extending in excess of 500 meters of strike at Samarkand,” Mick Billing, Thor’s executive chairman said in the press release.

Bonya is located within close proximity to Thor’s solely-owned Molyhil tungsten project, a site that also hosts a molybdenum deposit.

“Samarkand is just one of what we believe will be series of satellite tungsten and copper deposits within economic trucking distance of Molyhil, thus making the case for Molyhil development even more compelling,” added Billing.

In late January, Thor released its Q4 2018 operations update, which also included overviews of the company’s US-based project Pilot Mountain, as well as the Kapunda copper project located in south Australia.

In the quarterly report, Thor announced a maiden resource estimate for the Bonya copper deposit of 230,000 tonnes, with a 2.0 percent grading; add to this the tungsten mineralization and Bonya is an attractive project for the diversified explorer.

“These initial results demonstrate proof of surface outcropping tungsten mineralization extending in excess of 500 meters strike length at the Samarkand deposit,” Billing said.

He continued: “Current indications are that Bonya tungsten mineralization is coarse grained and may be amenable to low cost pre-concentration by x-ray ore sorting and treatment at the Molyhil processing plant.”

An independent geologist has been brought in to conduct an assessment of the vanadium deposits.

Thor will work to attain regulatory and traditional owner heritage clearance, while an initial drilling program at Bonya is expected to commence during the March 2019 quarter.

Shares of Thor Mining sat flat on Monday (February 4), trading at AU$0.025.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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Drilling Commences At The Poona Project
eMetals Limited

The Directors of eMetals Limited (ASX:EMT)(eMetals)(Company) are pleased to announce the commencement of drilling at the Poona Project which hosts the Mughal nickel prospect and the Raj tantalum prospect.


HIGHLIGHTS

  • Drilling has commenced at the Poona Project which hosts the Mughal Nickel Prospect and the Raj Tantalum Prospect.
  • A total of 1,400m of drilling is initially planned at the Mughal and Raj Prospects.
  • Drilling at Mughal will test Ni-Cu- PGE geochemical anomalies coincident with discrete Moving Loop EM conductors located along the northern contact of the prospective stratigraphy.
  • Soil sampling at the Mughal Nickel Prospect previously returned significant results of up to 0.15% Ni, 162ppm Cu, 145ppm Co and 68ppb PGE's approximately 5 kilometres west of (and in the same ultramafic sequence as) historical exploration intercepts of 8m @ 0.72% Ni, 0.13% Co and 26ppb PGE's from 11m and 8m @ 1.0% Ni, 0.1% Co, 30ppb PGE's from 26m Wamex Report A69137. (Refer ASX Release 12 November 2020)
  • The Raj Tantalite Prospect returned multiple high grade tantalite bearing pegmatites over a strike length exceeding 800m with Tantalum results from samples exceeding 179 ppm Ta2O5 and three samples in excess of 0.1% Ta2O5. (Refer ASX Release 11 February 2021)

eMetals Director Mathew Walker commented: "eMetals is excited to commence the maiden drilling program on the Mughal and Raj prospects. This represents significant progress following successful sampling work programs to identify drill targets. We look forward to providing a steady flow of results as the drill program progresses."

Click here for the full ASX release.

EMT:AU
physical coin representing bitcoin

A Canadian fund provider is debuting a version of its popular bitcoin ETF in Australia. Is now the best time for this launch?

Australian investors are getting a new way to invest in the volatile bitcoin space thanks to a deal between an asset management company and a Canadian fund provider.

On May 12, Canadian fund maker Purpose Investments launched a version of its bitcoin exchange-traded fund (ETF) in the Australian market by way of a partnership with Cosmos Asset Management, which is owned in part by the Australian division of Mawson Infrastructure Group (NASDAQ:MIGI).

The fund, called the Cosmos-Purpose Bitcoin Access ETF (CXA:CBTC), is listed on the Cboe Australia exchange, and holds units of the Toronto-based Purpose Bitcoin ETF (TSX:BTCC).


“We have brought together a team of global experts to offer Australian investors access to a truly high-quality product,” Dan Annan, Cosmos Asset Management CEO, said in a statement to investors.

ETF maker pursues rising international interest in cryptocurrencies

In an interview with the Investing News Network (INN), Vlad Tasevski, chief operating officer and head of product at Purpose Investments, said the firm has been actively pursuing ways to offer its crypto funds internationally.

The executive said there has been widespread interest in BTCC since its launch back in February of last year.

As the firm began evaluating how to approach this demand, the company considered setting up shop in the Australian market, Tasevski said. However, eventually the Canadian fund provider went with the partnership route.

Tasevski called Australia “the next logical jurisdiction" for the firm as it expands with its crypto funds.

When asked what makes Australia so attractive for the expansion of BTCC, the executive said it has a similar market structure to Canada, and credited securities regulators in the nation for being more comfortable with cryptocurrency listings than other jurisdictions.

Purpose has strong long-term outlook for digital assets

Although crypto assets are facing a serious ongoing downturn in value that has created significant losses, Tasevski told INN that Purpose Investments is undeterred in its long-term crypto outlook.

“The amount of capital and the amount of people involved in the space has never been higher,” Tasevski said.

The executive said he views his company's offerings as very flexible for investors. “We'll be here for (investors) to actually give them the ability to very easily access it whenever they feel it is appropriate for them,” he said.

Tasevski added that he views the current downturn for bitcoin as “one of the best entry opportunities in the last year and a half.”

​As bitcoin struggles, ETF firm celebrates structural victory

Purpose Investments has suggested to investors that accessing the bitcoin market through its funds is a safer route than going it alone, especially given the current period of remarkable losses.

According to Tasevski, the firm's products offer liquidity to investors and provide a measured approach for people who want exposure in this segment.

“We have been very clear that this is a volatile asset class,” he told INN. “And investors should kind of understand the level of volatility that they will be taking on.”

The investment executive said the infrastructure security provided by the rules ETFs must follow has been a boon as the crypto space faces major volatility.

Even so, BTCC has been rocked in 2022 based on the performance of bitcoin. Over a year-to-date period, the fund had gone down in value by over 35 percent as of the closing bell in Canada on May 11. In the past month alone, BTCC has dropped in value by over 20 percent.

Som Seif, founder and CEO of Purpose Investments, recently said crypto is a “core component” for the firm “when solving problems for (its) customers.”

​Investor takeaway

Digital assets have never been more easily available as tools for all types of investors.

While many experts remain confident in the long-term outlook for bitcoin and other cryptocurrencies, the considerable volatility prevailing in the market can make the space difficult for newcomers to stomach.

So far in 2022, bitcoin losses have highlighted the lack of stability in digital coins — but of course, as some have argued, these big moves can also provide entry points and opportunities for savvy investors.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

European Lithium Executive Chairman Tony Sage

European Lithium Executive Chairman Tony Sage said, “There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”

European Lithium Executive Chairman Tony Sage: Developing the 1st Lithium Hydroxide Plant in Europe youtu.be


European Lithium (ASX:EUR,FWB:PF8) Executive Chairman Tony Sage discussed the company’s Wolfsburg project in Austria, a country with a rich mining history dating back to WWII that maintains its infrastructure.

Wolfsburg continues that tradition, positioned only 45 kilometres from the city that hosts the largest Samsung battery factory.

"It’s quite unique. In Europe, a lot of the lithium mines are at the exploration stage," Sage said. "This mine was built back in the '80s by the Austrian government. So all the work has been done. If we were going to do this project today, we would have to get environmental approval and spend about $100 million — but they did all the work and the licence is in perpetuity.


“We can now access that mine and start mining immediately. In fact, in 2017, we mined it and took out 1,500 tonnes, which is a massive advantage in the lithium industry because we were able to build a pilot plant and put 300 tonnes of the material through the pilot plant, which gave us the results that we were looking for in that it's high-grade product.”

Sage also discussed European Lithium’s goals with the project. “Our aim is to mine it. It's a very simple mining process. We're in the process now of trying to acquire land nearby so we can actually put a conversion plant and a hydroxide plant on it. There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”

Sage told the Investing News Network that the government is supportive of its endeavours. “The Austrian government is very keen for us to build hydroxide plants so they can actually entice vehicle companies to build a factory nearby the hydroxide plant. This way, we can have a mine right through to the battery solution for the Austrian government. In the end, all we can do is get the mines up and operating, build the hydroxide plant and see what happens.”

The mine itself is underground. “Underground mining techniques are used all around the world. When they built it, they actually overbuilt — so when we decided to mine back in 2017, it was quite easy for us to find the seam of the orebody and then take the ore out," Sage said.

“We completed a prefeasibility study in 2018. The cost structure then was about US$7,500 per tonne to produce the hydroxide. Right now, the hydroxide price is around US$69,000 a tonne — that’s a massive profit margin that we don’t see as sustainable long term. When we do our definitive feasibility study, we're probably going to use an average price over the life of mine of about US$25,000 — but that's still a huge profit margin. That feasibility study is coming within the next four months, when we’ll be in a good position to partner with someone.”

Watch the full interview of European Lithium Executive Chairman Tony Sage above.

Disclaimer: This interview is sponsored by European Lithium (ASX:EUR,FWB:PF8). This interview provides information that was sourced by the Investing News Network (INN) and approved by European Lithium in order to help investors learn more about the company. European Lithium is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with European Lithium and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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