27th Feb 2015 10:36
LONDON (Alliance News) - Thor Mining PLC on Friday reported a slightly wider loss in the first half of its financial year as it works to progress its Molyhil and Pilot Mountain projects.
Thor said its pretax loss in the six months to the end of December widened to GBP579,000, compared to GBP380,000 a year earlier. The company generates no revenue.
Thor said it is making progress on the Molyhil tungsten project in Australia, with an expanded open cut ore reserve study completed and an updated feasibility study done.
In the half, the company also completed the acquisition of the Pilot Mountain tungsten project in Nevada in the US.
Shares in Thor Mining were down 11% to 0.0800 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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