TIDMTHR
RNS Number : 2750I
Thor Mining PLC
11 August 2021
11 August 2021
THOR MINING PLC
STRATEGIC PLACEMENT
The directors of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR, OTCQB: THORF) are pleased to announce a private placement
financing of UKGBP800,000, to fund exploration activities at the
Company's project interests, with particular emphasis on the Ragged
Range gold and nickel prospects in the Pilbara, Western
Australia.
Highlights:
-- The Company has raised gross proceeds of GBP800,000 via the
placing of 123,076,923 new ordinary shares of 0.01p each ("Ordinary
Shares") (the "Placing Shares") at a price of 0.65 pence per
Ordinary Share (the "Placing")
-- Strong support was received from existing and new
shareholders, adding strength to the Company's share register.
Existing shareholder, Artemis Resources Limited (ASX:ARV), a
company with major gold exploration and development projects in
Western Australia's Pilbara, of which Thor director Mark Potter is
Non-Executive Chairman, has invested GBP118,850 in the private
placement
-- All placees to receive, one warrant for each two Placing
Shares, to subscribe for a further new Ordinary Share at UK 1.3
pence per Ordinary Share ("Warrant"), valid for two years from the
date of issue.
-- The Placing will not be subject to shareholder approval,
falling within the Company's existing shareholder authorities and
placement capacity.
-- Funds raised to be utilised for exploration activities at the
Ragged Range gold & nickel project in the Pilbara region of
Western Australia, and for exploration drilling at Molyhil tungsten
and molybdenum project in the Northern Territory, as well as for
general working capital purposes.
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"This additional capital for Thor Mining will allow us to
continue the intensive exploration work program at our exciting
Ragged Range gold & nickel project, including RC drilling of
priority drill targets, as well as exploration drilling at Molyhil
tungsten-molybdenum Project.
We are very pleased to have ongoing support from the Company's
shareholders Artemis Resources Limited, and welcome new
shareholders to our share register, who recognise the potential of
our Ragged Range and Molyhil Projects .
These funded activities create short- and medium-term value for
our shareholders on exploration success ."
Capital Raise
The Company has raised gross proceeds of GBP800,000 via the
placing of 123,076,923 Placing Shares at a price of 0.65 pence per
Placing Share.
Placees to receive a one Warrant for every two Placing Shares
subscribed, at 1.3 pence per Ordinary Share, valid for two years
from the date of issue.
Funds raised to be utilised for exploration activities at the
Ragged Range gold & nickel project WA, including RC drilling,
and exploration diamond drilling at Molyhil tungsten-molybdenum
Project, NT. Both of these Project drilling programs have state
government support through co-funding grants.
The Placing price represents a discount of 11% to the closing
share price of 0.73 pence on 10 August 2021. The Placing Shares
being issued represent approximately 11.6 % of the existing issued
ordinary share capital of the Company prior to the Placing.
Share Issue
The Company will shortly issue 123,076,923 Ordinary Shares and
61,538,461 Warrants, covering the Placement, both utilising the
Company's existing shareholder authorities.
Settlement and dealings
Application has been made for the Placing Shares to be admitted
to trading on AIM ("Admission") and it is expected that Admission
will become effective on or around 17 August 2021. The Placing
Shares will rank pari passu with the Company's existing issued
Ordinary Shares.
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission of
the Placing Shares, Thor will have 1,748,796,411 Ordinary Shares in
issue with voting rights attached. Thor holds no shares in
treasury. The figure of 1,748,796,411 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.
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
- Ends -
For further information on the Company, please visit
www.thormining.com or contact the following:
Thor Mining PLC
Nicole Galloway Warland, Managing Tel: +61 (8) 7324 1935
Director Tel: +61 (8) 7324 1935
Mick Billing, Executive Chairman Tel: +61 (8) 7324 1935
Ray Ridge, CFO / Company Secretary
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
In Situ 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
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ROIFIFEETRILLIL
(END) Dow Jones Newswires
August 11, 2021 02:00 ET (06:00 GMT)
Thor Energy (LSE:THR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Thor Energy (LSE:THR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
