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Thors Molyhil project given major backing by government of Northern Territory

The Molyhil tungsten project owned by Thor Mining PLC (LON:THR)(ASX:THR) has been awarded Major Project statues by the government of the Northern Territory in Australia.

The chief minister of the Northern Territory, the Honourable Michael Gunner MLA and the Chairman of Thor Mining, Mick Billing, announced a Project Facilitation Agreement (PFA) between the government and the company on 4 July.

The company is currently pursuing US$43mln in project finance for the development-ready Molyhil project.

Chief Minister, The Honourable Michael Gunner MLA, commented: "The Northern Territory is the rebound capital of Australia. We are the safest, and quickest to get back to business. The Territory government's focus is on creating jobs for Territorians – this project will support 59 ongoing jobs in Alice Springs with a further 40 jobs supported during construction.”

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