Thor Mining PLC USA Lithium Investment Update (7802Q)
June 08 2018 - 5:18AM
UK Regulatory
TIDMTHR
RNS Number : 7802Q
Thor Mining PLC
08 June 2018
8 JUNE 2018
THOR MINING PLC
USA LITHIUM INVESTMENT UPDATE
Further to its announcements of 29 March 2018 and 10 April 2018,
the Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX:
THR), provides the following update on the sale of the Company's
interest in USA Lithium Pty Ltd ("USA Lithium").
The Company notes an announcement on ASX of 7(th) June 2018 by
Hawkstone Mining Limited ("Hawkstone") (ASX: HWK) that the meeting
of shareholders to approve the acquisition of 100% of the shares of
USA Lithium has been deferred, and is now scheduled for 28(th) June
2018
Details of the release by Hawkstone can be viewed via the link
below:
https://www.asx.com.au/asxpdf/20180607/pdf/43vm872g4sdt33.pdf
The Company will continue to update investors on this issue as
news becomes available.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining Executive
1935 PLC Chairman
Ray Ridge +61 (8) 7324 Thor Mining CFO/Company
1935 PLC Secretary
Colin Aaronson/ +44 (0) 207 Grant Thornton Nominated
Richard Tonthat 383 5100 UK LLP Adviser
Nick Emerson +44 (0) 1483 SI Capital Ltd Broker
413 500
Tim Blythe/ Camilla +44 (0) 207 Blytheweigh Financial
Horsfall 138 3222 PR
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on
the AIM Market of the London Stock Exchange and on ASX in
Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the
Northern Territory of Australia, for which an updated feasibility
study in 2015(1) suggested attractive returns.
Thor also holds 100% of the Pilot Mountain tungsten project in
Nevada USA which has a JORC 2012 Indicated and Inferred Resources
Estimate(2) on 2 of the 4 known deposits.
Thor is also acquiring up to a 60% interest Australian copper
development company Environmental Copper Recovery SA Pty Ltd, which
in turn holds rights to earn up to a 75% interest in the mineral
rights and claims over the portion of the historic Kapunda copper
mine in South Australia recoverable by way of in situ recovery.
Thor has a material interest in US Lithium Pty Limited, an
Australian private company with a 100% interest in a Lithium
project in Nevada, USA.
Finally, Thor also holds a production royalty entitlement from
the Spring Hill Gold project(3) of:
-- A$6 per ounce of gold produced from the Spring Hill tenements
where the gold produced is sold for up to A$1,500 per ounce;
and
-- A$14 per ounce of gold produced from the Spring Hill
tenements where the gold produced is sold for amounts over A$1,500
per ounce.
Notes
-- (1) Refer ASX and AIM announcement of 12 January 2015
-- (2) Refer AIM announcement of 22 May 2017 and ASX
announcement of 23 May 2017
-- (3) Refer AIM announcement of 26 February 2016 and ASX
announcement of 29 February 2016
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.
END
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