THR Thor Energy Plc

 

TIDMTHR 
 
RNS Number : 3763U 
Thor Mining PLC 
14 October 2010 
 
                                THOR MINING PLC 
 
                                Issue of Equity 
 
Dated: 14 October 2010 
 
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the 
exploration company focussed on gold and base metal projects and advancing 
tungsten-molybdenum projects in Australia, advises shareholders that the Company 
proposes to raise approximately AUD$912,000 (approximately GBP570,000 at current 
exchange rates) by way of a placing (the "Placing") of 57,000,000 new ordinary 
shares of 0.3p each in the capital of the Company (the "Placing Shares") through 
the issue of 57,000,000 voting CDI's in the Company (the "CDI's") at 1.6 cents 
per CDI to sophisticated investor clients of Patersons Securities Limited in 
Australia. Completion of the placing and the receipt of funds are anticipated to 
take place on Wednesday 20 October 2010. The company intends to make an 
application to ASX Securities Limited for listing of these CDI's in due course. 
 
This placing utilises all of the available 15% capacity of the Company's issued 
capital prior to the placing, pursuant to ASX Listing Rule 7.1. The Placing 
Shares issued will rank equally with existing Thor ordinary shares trading on 
AIM and with existing CDI's quoted on the ASX. 
 
Cash raised from the issue will be used for exploration expenses for the Dundas 
gold project and to supplement working capital. 
 
About the Dundas Project: 
 
The Thor Dundas Project is situated in Western Australia within the 
Albany-Fraser Province.  The project tenements lie on the general 
strike-extension of the most prolific gold-bearing belt of the Yilgarn Province 
- the 700km Wiluna-Kalgoorlie-Norseman greenstone belt, in an area where the 
trend of the Albany-Fraser belt has undergone significant structural 
dislocation. The Albany-Fraser belt hosts a number of recent gold discoveries 
including the +5 million ounce Tropicana gold deposit, and other discoveries 
including Beachcomber, Socrates, Corvette, and Corona. 
 
Thor recently extended its ownership of the Dundas Gold tenements to 60% and 
holds additional options to increase this interest to 100%. 
 
Accordingly, an application will be made to the London Stock Exchange for the 
Placing Shares, which will rank pari passu with the Company's existing issued 
ordinary shares, to be admitted to trading and dealings are expected to commence 
at 8:00 a.m. (BST/GMT) on Tuesday 26 October 2010. In Australia an application 
will be made to the Australian Securities Exchange (the "ASX") for the quotation 
of New CDI's.  Dealings are expected to commence on Tuesday 26 October 2010. 
 
Following the issue of the Placing Shares the Company's total issued share 
capital will be 438,559,912 ordinary shares of 0.3p each. In accordance with the 
Financial Services Authority Disclosure and Transparency Rules, the Company has 
438,559,912 Ordinary Shares of 0.3p each in issue, each share carrying the right 
to one vote. The Company does not hold any Ordinary Shares in Treasury. 
 
The above figure of 438,559,912 Ordinary Shares 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 share capital of the Company under the Financial Service Authority's 
Disclosure and Transparency Rules. 
 
Enquiries: 
 
+---------+-------------+------------------+-------------+ 
| Mick    | + 61        | Thor Mining PLC  |   Executive | 
| Billing | (0)414      |                  |    Chairman | 
|         | 741 007     |                  |             | 
+---------+-------------+------------------+-------------+ 
|         |             |                  |             | 
+---------+-------------+------------------+-------------+ 
| Laurie  | +61 (0)     | Thor Mining PLC  | CFO/Company | 
| Ackroyd | 8 8177 8800 |                  |   Secretary | 
+---------+-------------+------------------+-------------+ 
|         |             |                  |             | 
+---------+-------------+------------------+-------------+ 
| John    | + 44        | Daniel Stewart & |   Nominated | 
| Simpson | (0)20       | Company Plc      |     Adviser | 
|         | 7776 6550   |                  |             | 
+---------+-------------+------------------+-------------+ 
 
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. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IOEMIBATMBABMIM 
 

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