TIDMTHR
RNS Number : 4574J
Thor Mining PLC
05 December 2018
5 December 2018
THOR MINING PLC
EXERCISE OF WARRANTS
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR), is pleased to provide an update for shareholders
regarding warrant exercise.
The Company confirms that it has received binding warrant
exercise notices for the conversion of 31,203,947 warrants at the
exercise prices shown below, resulting in aggregate gross proceeds
being receivable by the Company in this tranche of GBP380,447.
Number of Expiry Date Exercise Number Expired Proceeds received
warrants price Unexercised (GBGBP)
Exercised
------------- -------------- ------------- --------------- ------------------
29 November
19,203,947 2018 1.2 pence 1,309,210 LIR230,447
12,000,000 1 December 1.25 pence NIL LIR150,000
2018
Mr Mick Billing, Executive Chairman, commented:
"Since 30 October 2018 Thor has seen the conversion of warrants
bringing an additional GBP581,000 cash into the Company. We would
like to thank our investors for their support which has seen almost
all of the available November & December 2018 warrants
exercised."
"The additional working capital provided further strengthens the
Company and provides additional means with which to aggressively
pursue our business plans."
"Thor is working with partners on Molyhil commercialisation and
will provide updates as each material development transpires.
Moreover Pilot Mountain project developments, Bonya tungsten
drilling & vanadium technical reviews and Kapunda copper
related updates, are expected to be delivered to the market in the
near term."
"Over the coming weeks and months we have much to accomplish,
and much to bring to the market. It is a key time in the Company's
life and the team are further energised with the support we
received in London last week and the financial support to the
Company announced today."
Settlement and dealings
Application has been made to the AIM Market of the London Stock
Exchange ("AIM") for 31,203,947 Thor ordinary shares of 0.01p each
("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 10 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 716,900,540 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
716,900,540 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.
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
ALSEELBBVLFXFBK
(END) Dow Jones Newswires
December 05, 2018 02:05 ET (07:05 GMT)
Thor Energy (LSE:THR)
Historical Stock Chart
From Apr 2024 to May 2024
Thor Energy (LSE:THR)
Historical Stock Chart
From May 2023 to May 2024