- Thor Mining (THR) begins the week in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until December 15 or when more details are released, whichever occurs first
- On December 9, Thor began copper recovery trials at its Kapunda Copper ISR Project in South Australia
- Pump testing and tracer testing have begun, with an in-situ lixiviant trial to follow once completed
- Shares in Thor last traded at 1.5 cents on December 9
Thor Mining (THR) has begun the week in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until December 15 or when more details are released, whichever occurs first.
Thor is yet to disclose how much it intends to raise or what it will use the funds for once received.
On December 9, Thor began copper recovery trials at its Kapunda Copper ISR Project in South Australia.
Pump testing and tracer testing have begun, with an in-situ lixiviant trial to follow once completed.
These trials will be carried out by EnviroCopper in which Thor holds a 30 per cent equity interest in and they are expected to take three to four weeks.
Thor last tapped investors for cash in January 2021 when it undertook a £750,000 (A$1.38 million) placement.
A total of 88,235,296 new ordinary shares were issued to participants at 0.85 pence (A$0.02) each.
Once received, Thor used the money to speed up development at its gold, copper and uranium projects.
Shares in Thor last traded at 1.5 cents on December 9. The company has a $26.58 million market cap.