Company Information for Thor Mining Plc

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Company Statement

Thor is a minerals exploration and development company focused on exploring and developing specialty metals projects. The Board seeks to increase shareholder value by systematically exploring its resource portfolio.

Thor’s Directors are experienced in the mineral and finance sectors. They are practised in: evaluating mining assets; raising funds on international capital markets; evaluating acquisition and investment prospects and the day to day management of public companies.

Thor has a portfolio of properties in the Northern Territory of Australia.

Current Operations

Molyhil: 
The Molyhil deposit occurs in two adjacent skarn bodies that contain outcropping molybdenite and scheelite mineralisation. Since mid 2004 it has been the subject of systematic test work: comprised of geophysical exploration, a diamond and RC drilling programme, surface and underground bulk sampling, metallurgical test work and a geotechnical study.

The Company is aiming to complete financing and offtake agreements during the first quarter of 2007.  Thor is currently in discussions with a number of parties in relation to this.  However, at this stage, no terms have been agreed.  Construction is targeted to commence in May 2007 with first production in the first quarter of 2008. 

Hatches Creek:
A tungsten-copper project located 160km from Tennant Creek Township. The exploration project is positioned within historic tungsten, copper and gold workings. The directors propose to carry out geological interpretation; data compilation; airborne survey; and drilling.

Thring Creek:
An aeromagnetic anomaly which is situated approximately 24 kilometres east of the Molyhil deposit. The feature is 7 kilometres long and up to 1.5 kilometres wide, and represents magnetite bearing rocks with identical response to the Molyhil deposit.

Molybdenum and Tungsten:
World demand for molybdenum has been growing at 2% to 4% per annum and molybdenum prices have more than trebled over the past year to circa US $38lb for molybdenum roasted oxide concentrates (Mo 57%.) Molybdenum is a refractory metallic element used primarily as an alloying agent in steel, cast iron and super alloys to enhance hardness, strength and toughness and wear and corrosion resistance. Most world production of molybdenum historically has come as a by-product from the large porphyry copper mines of the United States, a supply source that is in long-term decline. Global production of Molybdenum in 2003 totalled approximately 127,000 tonnes and the forecast for 2004 is approximately 130,000 tonnes. The three main producing countries are USA (c.27%), Chile (c.25%), and China (c.24%).

Tungsten is used in tool steels and specialist industrial applications, with world supply impacted by the recent closure of the three largest tungsten mines in China. World consumption of Tungsten in 2004 was approximately 60,000 tonnes of which approximately 40% is supplied by China.

Geographical Spread

Northern Australia

Board of Directors and Key Management

John W Barr	Executive Chairman
John A Young	Chief Executive Officer
Mark Smyth	Non-executive
Greg M Durack	Non-executive Director
Damian Delaney	Chief Financial Officer and Joint Company Secretary
Stephen F Ronaldson	Joint Company Secretary
Phil Tribbick	Project Manager

Company Address Thor Mining 55 Gower Street London, United Kingdom WC1E 6HQ Telephone: +61 8 93 27 09 00 Facsimile: +61 8 93 27 09 01 Email: corporate[at]thormining.com Website: http://www.thormining.com

Additional Address/Key Contact Australian Office Sunsphere Pty Ltd Level 1 282 Rokeby Road Subiaco 6005 Western Australia AUSTRALIA Postal Address Sunsphere Pty Ltd PO Box 1126 Subiaco 6904 Western Australia AUSTRALIA

Year End 20 June

Nominated Brokers ARM Corporate Finance Ltd

Nominated Advisors ARM Corporate Finance Ltd

Broker/Analyst Reports

06/11/07 - Hardman & Co.
05/11/06 - Thor Mining Plc

Major Shareholders

Tennant Creek Gold Ltd	11.37%
Batavia Mining Limited	9.79%
ANZ Nominees Limited	9.11%
Vidacos Nominees Limited	7.63%
RAB Special Situations Master Fund Limited	4.14%
Others	57.96%

Related News

03/03/08 - Thor Mining Waiting For Chinese Takeaway
06/08/07 - Thor Mining Has Some Enviable Quality In Its Assets
04/12/06 - Thor Mining Receives Positive Feasibility For Its Molyhill Tungsten/Molybdenum Project

Most Recent Statement

30/04/08 - WESTERN DESERT RESOURCES ACQUIRES SUBSTANTIAL SHAREHOLDING IN THOR
14/04/08 - Quarterly Report
12/03/08 - THOR SIGNS MOLYHIL OFFTAKE AGREEMENT
06/03/08 - Uranium Update
28/02/08 - Half Yearly Report and Accounts
31/01/08 - QUARTERLY REPORT – December 2007