Thor Mining PLC Exercise of Warrants (8051I)
November 28 2018 - 9:30AM
UK Regulatory
TIDMTHR
RNS Number : 8051I
Thor Mining PLC
28 November 2018
28 November 2018
THOR MINING PLC
EXERCISE OF WARRANTS
Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR)
announces that it has today received a notice of exercise of
7,500,000 warrants by Metal Tiger plc over ordinary shares of 0.01
pence each ("Ordinary Shares") at a price of 1.2 pence per warrant,
representing a value of GBP90,000.
Settlement and dealings
Application will be made to the AIM Market of the London Stock
Exchange ("AIM") for the 7,500,000 Ordinary Shares, pursuant to the
warrant exercise, which rank pari passu with the Company's existing
issued Ordinary Shares, to be admitted to trading. Dealings on AIM
are expected to commence at 8:00am on or around 5 December 2018
("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission, Thor
will have 685,696,593 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
685,696,593 may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in the Company, under the ASX Listing Rules or the
DTRs.
Following Admission, Metal Tiger will be interested in
80,100,000 Thor Shares, representing approximately 11.7 per cent.
of Thor's issued share capital as enlarged by the above issue of
Ordinary Shares.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Mick Billing +61 (8) 7324 1935 Thor Mining PLC Executive Chairman
Ray Ridge +61 (8) 7324 1935 Thor Mining PLC CFO/Company
Secretary
Colin Aaronson/ +44 (0) 207 383 Grant Thornton UK Nominated Adviser
Richard Tonthat/ 5100 LLP
Ben Roberts
Nick Emerson +44 (0) 1483 413 SI Capital Ltd Joint Broker
500
David Hignell +44 (0)20 3861 Northland Capital Joint Broker
/ Rob Rees / 6625 Partners Limited
Isabella Pierre
Tim Blythe/ Camilla +44 (0) 207 138 Blytheweigh Financial PR
Horsfall 3222
Updates on the Company's activities are regularly posted on
Thor's website www.thormining.com, which includes a facility to
register to receive these updates by email, and on the Company's
twitter page @ThorMining.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on
the AIM Market of the London Stock Exchange and on ASX in
Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the
Northern Territory of Australia, for which an updated feasibility
study in August 2018(1) suggested attractive returns.
Thor also holds 100% of the Pilot Mountain tungsten project in
Nevada USA which has a JORC 2012 Indicated and Inferred Resources
Estimate(2) on 2 of the 4 known deposits. The US Department of the
Interior has confirmed that tungsten, the primary resource mineral
at Pilot Mountain, has been included in the final list of Critical
Minerals 2018.
Thor is also acquiring up to a 60% interest Australian copper
development company Environmental Copper Recovery SA Pty Ltd, which
in turn holds rights to earn up to a 75% interest in the mineral
rights and claims over the resource(3) on the portion of the
historic Kapunda copper mine in South Australia recoverable by way
of in situ recovery.
Thor has an interest in Hawkstone Mining Limited, an Australian
ASX listed company with a 100% Interest in a Lithium project in
Arizona, USA.
Finally, Thor also holds a production royalty entitlement from
the Spring Hill Gold project of:
-- A$6 per ounce of gold produced from the Spring Hill tenements
where the gold produced is sold for up to A$1,500 per ounce;
and
-- A$14 per ounce of gold produced from the Spring Hill
tenements where the gold produced is sold for amounts over A$1,500
per ounce.
Notes
(1) Refer ASX and AIM announcement of 23 August 2018
(2) Refer AIM announcement of 22 May 2017 and ASX announcement
of 23 May 2017
(3) Refer AIM announcement of 10 February 2016 and ASX
announcement of 12 February 2018
Refer AIM announcement of 26 February 2016 and ASX announcement
of 29 February 2017
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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