- Thor Mining has agreed to acquire an 80% stake in the mineral rights from a South Australia copper and gold project.

Thor will buy up to 80% of the Alford East Project, which comprises numerous oxide copper-gold prospects.

Mick Billing, executive chairman of Thor Mining, said the potential for a post-Covid-19 recovery in copper demand and pricing had prompted the company to increase its exposure to potential low cost copper production projects.

The Alford East project represented a 'continuation of the favourable geology' seen at the Alford West site, Billing added, in which Thor holds a 30% stake.

At 10:00am: [LON:THR] Thor Mining PLC share price was 0p at 1.25p

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