TIDMTHR
RNS Number : 1863R
Thor Mining PLC
24 October 2013
Thursday 24 October 2013
THOR MINING PLC
Thor Mining PLC ("Thor" or the "Company")
The Directors of Thor Mining PLC (AIM, ASX: THR) today released
the following announcement on the Australian Securities Exchange
("ASX") as required under
Appendix 5B
Mining exploration entity quarterly report
Name of entity
THOR MINING PLC
---------------
ACN or ARBN Quarter ended ("current
quarter")
121 117 673 30 September 2013
----------- -----------------------
Consolidated statement of cash flows
Cash flows related to operating Current quarter Year to date
activities (3 months)
$A'000 $A'000
---------------- -------------
Receipts from product sales
1.1 and related debtors 0 0
Payments for (a) exploration
1.2 & evaluation (244) (244)
(b) development 0 0
(c) production 0 0
(d) administration (264) (264)
1.3 Dividends received 0 0
Interest and other items
1.4 of a similar nature received 3 3
Interest and other costs
1.5 of finance paid (18) (18)
1.6 Income taxes paid 0 0
Other (provide details if
1.7 material) 0 0
Net Operating Cash Flows (523) (523)
----- ---------------------------------- ---------------- -------------
Cash flows related to investing
activities
Payment for purchases of:
1.8 (a) prospects 0 0
(b) equity investments 0 0
(c) other fixed assets 0 0
Proceeds from sale of: (a)
1.9 prospects 0 0
(b) equity investments 0 0
(c) other fixed assets 3 3
1.10 Loans to other entities 0 0
1.11 Loans repaid by other entities 0 0
Other:- Deposits supporting
1.12 guarantees 0 0
Net investing cash flows 3 3
---------------- -------------
Total operating and investing
1.13 cash flows (carried forward) (520) (520)
----- ---------------------------------- ---------------- -------------
Total operating and investing
1.13 cash flows (brought forward) (520) (520)
----- ----------------------------------
Cash flows related to financing
activities
Proceeds from issues of shares,
options, etc. (Refer Note
1.14 6) 1,121 1,121
Proceeds from sale of forfeited
1.15 shares 0 0
1.16 Proceeds from borrowings 0 0
1.17 Repayment of borrowings 0 0
1.18 Dividends paid 0 0
Other (provide details if
1.19 material) 0 0
---------------- -------------
Net financing cash flows 1,121 1,121
----- ---------------------------------- -------------
Net increase (decrease) in
cash held 601 601
Cash at beginning of quarter/year
1.20 to date 310 310
Exchange rate adjustments
1.21 to item 1.20 0 0
---------------- -------------
1.22 Cash at end of quarter 911 911
----- ---------------------------------- ---------------- -------------
Payments to directors of the entity and associates of the
directors
Payments to related entities of the entity and associates of the
related entities
Current quarter
$A'000
----------------
Aggregate amount of payments to the parties
1.23 included in item 1.2 66
----------------
1.24 Aggregate amount of loans to the parties 0
included in item 1.10
------ ------------------------------------------------ ----------------
1.25 Explanation necessary for an understanding of the transactions
DD$90,0$65,875 includes: - Consulting fees totalling
$65,875 (M Billing $21,500, D Thomas $39,750, T Ireland
$4,625).
-------------------------------------------------------------------------
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which
have had a material effect on consolidated assets and
liabilities but did not involve cash flows
Nil
-------------------------------------------------------
2.2 Details of outlays made by other entities to establish
or increase their share in projects in which the reporting
entity has an interest
Nil
------------------------------------------------------------
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available Amount used
$A'000 $A'000
3.1 Loan facilities 1,000 1,000
----------------- ------------
3.2 Credit standby arrangements 0 0
---- ---------------------------- ----------------- ------------
Estimated cash outflows for next quarter (Note 9)
$A'000
-------
4.1 Exploration and evaluation 400
-------
4.2 Development 0
-------
4.3 Production 0
-------
4.4 Administration 250
-------
Total 650
---- --------------------------- -------
Reconciliation of cash
Reconciliation of cash at the Current quarter Previous quarter
end of the quarter (as shown $A'000 $A'000
in the consolidated statement
of cash flows) to the related
items in the accounts is as follows.
---------------------------------------- ---------------- -----------------
5.1 Cash on hand and at bank 911 310
---------------- -----------------
5.2 Deposits at call 0 0
---------------- -----------------
5.3 Bank overdraft 0 0
---------------- -----------------
5.4 Other (90 day Term Deposit) 0 0
---------------- -----------------
Total: cash at end of quarter
(item 1.22) 911 310
----- --------------------------------- ---------------- -----------------
Changes in interests in mining tenements
Tenement Nature of interest Interest Interest
reference (note (2)) at beginning at end
of quarter of quarter
----------- ------------------- -------------- ------------
6.1 Interests in mining
tenements relinquished,
reduced or lapsed
----------- ------------------- -------------- ------------
6.2 Interests in mining
tenements acquired
or increased
----------- ------------------- -------------- ------------
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or
conversion rights together with prices and dates.
Total number Number quoted Issue price Amount
per security paid up
(see note per security
3) (see note
3)
------------------------------------------- -------------- -------------- --------------- --------------
7.1 Preference securities
-------------- -------------- --------------- --------------
7.2 Changes during
quarter
(a) Increases
(b) Decreases
----- ------------------------------------ -------------- -------------- --------------- --------------
Fully
7.3 +Ordinary securities 1,276,661,459 1,276,661,459 N/A Paid
(Refer Note
7)
-------------- -------------- --------------- --------------
Changes during
7.4 quarter
(a) Increases
by issues:
Fully
* Placement 148,888,887 148,888,887 0.225 pence Paid
Fully
144,900,000 144,900,000 0.250 pence Paid
Fully
57,806 57,806 0.7 Pence Paid
* Placement
* Exercise of UK Warrants
(b) Decreases
through returns
of capital, buy-backs
7.5 +Convertible
debt securities
-------------- -------------- --------------- --------------
7.6 Changes during
quarter
(a) Increases
(b) Decreases
Options
(description
and conversion
factor)
Options C
(Directors)
Exercise Expiry
Options D price date
(Associates)
8,000,000 0 4.0 cents 24/11/2013
Options E
(Associates)
1,000,000 0 5.0 cents 20/12/2013
Options E
(Associates)
1,000,000 0 3.5 cents 13/06/2014
Options F
(Associates)
4,000,000 0 2.0 pence 21/06/2015
Options G
(Debt facility
issuer) 1,100,000 0 2.0cents 27/09/2015
Options H
(Debt facility 84,141,088 0 0.7428 cents 19/03/2016
issuer)
Options I 62,887,808 0 0.5963 cents 21/06/2015
(Attaching to
AIM listed shares)
8,399,027 0 0.7 pence 30/9/2014
Options J
(Attaching to
7.7 CDIs) 20,067,431 0 1.05 cents 30/9/2014
-------------- -------------- --------------- --------------
7.8 Issued during
quarter
-------------- -------------- --------------- --------------
Exercised during
quarter
Options I
(Attaching to
7.9 AIM listed shares) 57,806 0 0. 7 pence 30/9/2014
-------------- -------------- --------------- --------------
7.10 Expired during
quarter
-------------- --------------
7.11 Debentures
(totals only)
-------------- --------------
7.12 Unsecured notes
(totals only)
-------------- --------------
Compliance statement
1 This statement has been prepared under accounting policies
which comply with accounting standards as defined in the
Corporations Act or other standards acceptable to ASX (see note
4).
2 This statement does give a true and fair view of the matters disclosed.
Sign here:
............................................................ Date:
24/10/2013
(Company Secretary)
Print name: Allan Burchard
Notes
1 The quarterly report provides a basis for informing the market
how the entity's activities have been financed for the past quarter
and the effect on its cash position. An entity wanting to disclose
additional information is encouraged to do so, in a note or notes
attached to this report.
2 The "Nature of interest" (items 6.1 and 6.2) includes options
in respect of interests in mining tenements acquired, exercised or
lapsed during the reporting period. If the entity is involved in a
joint venture agreement and there are conditions precedent which
will change its percentage interest in a mining tenement, it should
disclose the change of percentage interest and conditions precedent
in the list required for items 6.1 and 6.2.
3 Issued and quoted securities. The issue price and amount paid
up is not required in items 7.1 and 7.3 for fully paid
securities.
4 The definitions in, and provisions of, AASB 1022: Accounting
for Extractive Industries and AASB 1026: Statement of Cash Flows
apply to this report.
5 Accounting Standards ASX will accept, for example, the use of
International Accounting Standards for foreign entities. If the
standards used do not address a topic, the Australian standard on
that topic (if any) must be complied with.
6 Proceeds are net of issue costs.
7 Ordinary securities comprise of:
Listed on London Stock Exchange (AIM) 746,022,651
Listed on Australian Stock Exchange (ASX) - as CDIs 508,972,141
Listed on Australian Stock Exchange (ASX) - as CDI's
escrowed until 8/04/2014 21,666,667
Total Ordinary Securities at 30 June 2013 1,276,661,459
8 Issues during the quarter comprise of:
Listed on London Stock Exchange (AIM) 293,846,693
Total Ordinary Securities issued in the quarter 293,846,693
9 During the quarter, the number of shares transferred
From London Stock Exchange (AIM) to ASX as CDIs was 17,724,314
Mick Billing +61 (0) 8 7324 Thor Mining PLC Executive Chairman
1935
Allan Burchard +61 (0) 8 7324 Thor Mining PLC CFO/Company Secretary
1935
Colin Aaronson +44 (0) 20 7383 Grant Thornton UK Nominated Adviser
/ David Hignell 5100 LLP
/ Jamie Barklem
Nick Emerson/ +44 (0) 1483 413500 Simple Investments Broker
Renato Rufus
Alex Walters/ +44 (0) 77 7171 Cadogan PR Financial PR
Emma Wigan 3608
+44 (0) 20 7839
9260
This information is provided by RNS
The company news service from the London Stock Exchange
END
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