TIDMTHR
RNS Number : 7040Z
Thor Mining PLC
25 May 2021
25 May 2021
THOR MINING PLC
EXERCISE OF OPTIONS / PDMR DEALING
ISSUE OF EQUITY
The directors of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR, OTCQB: THORF) announce the following issue of shares and
warrants:
Director exercise of oprtions:
-- The Company has received a binding option exercise notice for
the exercise of options with an exercise price of A$0.01 per
Ordinary Share resulting in the issue of 1,000,000 Ordinary Shares
to be issued as ASX CHESS Depositary Interests ("CDIs") to MBB
Trading Pty Ltd, a company closely associated with the Company's
Executive Chairman Mr Billing, with proceeds of A$10,000 received
by the Company.
The required PDMR announcement in relation to the change in Mr
Billing's holding will be provided in due course.
Shares and warrants issued to Service Providers:
-- 555,556 Ordinary Shares are to be issued as ASX CDIs to a
consultant to the Company, for nil consideration for services
provided to the Company to the value of A$10,000. Price per share
determined by the closing price for the ASX on 24 May 2021 of
A$0.018.
-- 1,460,110 Ordinary Shares are to be issued to WH Ireland
Limited to the value of GBP12,500 in part payment of fees, issued
at 0.8561 pence per share per the contract; and
-- 2,433,526 unlisted warrants (expiry 4 March 2024, exercise
price GBP0.010273) are to be issued to WH Ireland Limited (the
exercise price being 20% above the above share issue price of
0.8561 pence, noted above) for services provided ("Service Provider
Warrants").
Settlement and dealings
Application will be made to the AIM Market of the London Stock
Exchange ("AIM") for 3,015,666 Thor ordinary shares of 0.01p each
("Ordinary Shares"), pursuant to the issue of shares, which rank
pari passu with the Company's existing issued Ordinary Shares, to
be admitted to trading on AIM. Dealings on AIM are expected to
commence at 8:00am on or around 28 May 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 1,625,719,488 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
1,625,719,488 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.
- Ends -
For further information on the Company, please visit
www.thormining.com or contact the following:
Thor Mining PLC
Mick Billing, Executive Chairman Tel: +61 (8) 7324 1935
Nicole Galloway Warland, Managing Director Tel: +61 (8) 7324 1935
Ray Ridge, CFO / Company Secretary Tel: +61 (8) 7324 1935
WH Ireland Limited (Nominated Adviser Tel: +44 (0) 207 220
and Joint Broker) 1666
Jessica Cave / Darshan Patel
Jasper Berry (Corporate Broking)
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483 413
500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004
9512
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; OTCQB: THORF) is a diversified
resource company quoted on the AIM Market of the London Stock
Exchange, ASX in Australia and OTCQB Market in the United
States.
The Company is advancing its diversified portfolio of precious,
base, energy and strategic metal projects across USA and Australia.
Its focus is on progressing its copper, gold, uranium and vanadium
projects, while seeking investment/JV opportunities to develop its
tungsten assets.
Thor owns 100% of the Ragged Range Project, comprising 92 km(2)
of exploration licences with highly encouraging early stage gold
and nickel results in the Pilbara region of Western Australia, for
which drilling is planned in the first half of 2021.
At Alford East in South Australia, Thor is earning an 80%
interest in copper deposits considered amenable to extraction via
Insitu Recovery techniques (ISR). In January 2021, Thor announced
an Inferred Mineral Resource Estimate of 177,000 tonnes contained
copper & 71,000 oz gold(1).
Thor also holds a 30% interest in Australian copper development
company EnviroCopper Limited, which in turn holds rights to earn up
to a 75% interest in the mineral rights and claims over the
resource on the portion of the historic Kapunda copper mine and the
Alford West copper project, both situated in South Australia and
both considered amenable to recovery by way of ISR.(2)(3)
Thor holds 100% interest in two private companies with mineral
claims in the US states of Colorado and Utah with historical
high-grade uranium and vanadium drilling and production
results.
Thor holds 100% of the advanced Molyhil tungsten project,
including indicated and inferred resources , in the Northern
Territory of Australia, which was awarded Major Project Status by
the Northern Territory government in July 2020.
Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in
deposits of tungsten, copper, and vanadium, including Inferred
resource estimates for the Bonya copper deposit, and the White
Violet and Samarkand tungsten deposits.
Thor holds 100% of the Pilot Mountain tungsten project in
Nevada, USA which has a JORC 2012 Indicated and Inferred Resources
Estimate on 2 of the 4 known deposits.
Notes
(1)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
(2)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(3)
www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(4)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20191011-molyhil-mineral-resource-estimate-enhanced.pdf
(5)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20162017/20170522-tungsten-resource-increase.pdf
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20182019/20181214-pilot-mountain-resource-update.pdf
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