Share Price Movement (7373W)
November 24 2010 - 7:21AM
UK Regulatory
TIDMTHR
RNS Number : 7373W
Thor Mining PLC
24 November 2010
THOR MINING PLC
Share Price Movement
Dated: 24 November 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,
today released the following report on the Australian Stock
Exchange ("ASX"),as required under the rules of the ASX.
A copy of the letter to ASX Securities Limited can be accessed
from the via the attached link:
http://www.rns-pdf.londonstockexchange.com/rns/7373W_-2010-11-24.pdf
Following the movement in the Thor share price this morning and
the increase in market volume the Directors are not aware of any
information that has not been announced to the market which
explains the movement in the recent trading of securities of the
Company. Further the Company is not in possession of any
information requiring an announcement.
The Directors of Thor have noted that the price of the Company
securities has risen in the past few days coupled with rising spot
pricing of gold and tungsten and believe that any or both of the
following factors may have influenced the price and volume of the
Company's securities:-
1. The current high market price for gold and the previously
announced encouraging exploration activities at the Dundas Gold
Project, in the Albany Fraser Belt near Norseman, in Western
Australia.
2. The pricing of Thor's securities were considered by Directors
as depressed and below their underlying value possibly due to a
long delay in commencing mining at the Molyhil Molybdenum/Tungsten
project in the Northern Territory as a result of unfavourable
commodity pricing. Recently the Tungsten prices have recovered
strongly to historical highs and investors may be aware of
this.
The Directors believes the Company is in compliance with the AIM
Rules.
Enquiries:
Mick Billing +61 Thor Mining PLC Executive
(0) Chairman
414
741
007
Laurie Ackroyd +61 (0)8 8177 8800 Thor Mining PLC CFO/Company
Secretary
John + 44 Daniel Stewart Nominated
Simpson (0)20 & Co. 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
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