TIDMTHR
RNS Number : 1324K
Thor Mining PLC
27 August 2019
27 August 2019
THOR MINING PLC
DIRECTOR APPOINTMENT
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM,
ASX: THR) are pleased to announce that the Company has appointed Mr
Mark Potter to the Board as a Non-Executive Director with immediate
effect.
Mr Mick Billing, Executive Chairman, commented:
"We are pleased to announce the appointment of Mark as a
Non-Executive Director of Thor. Mark is a Director of Metal Tiger
Plc, a major shareholder of Thor, and we are delighted to be able
to further strengthen our ties with Metal Tiger.
"Mark has an outstanding background in commercial aspects of the
resources industry, and we are very pleased to add his strengths to
our team."
Background
Mark Potter is a Director of Metal Tiger Plc, a company quoted
on the AIM market of the London Stock Exchange.
Mark is the Founder and a Partner of Sita Capital Partners LLP,
an investment management and advisory firm specialising in
investments in the mining industry. He was formerly a Director and
Chief Investment Officer of Anglo Pacific Group, a London listed
natural resources royalty company, where he successfully led a
turnaround of the business through acquisitions, disposals of
non-core assets, and successful equity and debt fundraisings.
Prior to Anglo Pacific, Mark was a founding member and
Investment Principal for Audley Capital Advisors LLP, a London
based activist hedge fund, where he was responsible for managing
all natural resources investments. Mark worked on several landmark
deals in the mining sector including the successful distressed
investment and turnaround of Western Coal Corp and its Can$3.3bn
sale to Walter Energy Inc.
Mark invested over US$300m during the period 2005 to 2012 in the
mining sector, realising proceeds of over US$900m on which he
generated returns in excess of US$600m. The Audley European
Opportunities Fund was nominated by Eurohedge as a top performing
hedge fund in the event-driven space for 2006, 2007 and 2010.
Prior to Audley Capital, Mark worked in corporate finance for
Salomon Smith Barney (Citigroup) and Dawnay, Day, a private equity
and corporate finance advisory boutique during which time he
completed over US$2bn of M&A, equity and debt transactions.
Mark graduated with an MA degree in Engineering and Management
Studies from Trinity College, University of Cambridge.
Mark Roderick Potter, aged 42, is or has been a director of the
following companies or a partner in the following partnerships
during the last five years:
Current Past
Kalahari Metals Limited Anglo Pacific Cygnus Limited
Kiran Capital Advisors Limited Anglo Pacific Group PLC
Metal Tiger PLC APG Aus No 1 Pty Ltd
Sita Capital Partners LLP APG Aus No 2 Pty Ltd
Sita Capital Limited APG Aus No 3 Pty Ltd
APG Aus No 4 Pty Ltd
APG Aus No 5 Pty Ltd
APG Aus No 6 Pty Ltd
APG Aus No 7 Pty Ltd
Alkormy Pty Ltd
Argo Royalties Pty Ltd
Centaurus Royalties Limited
Gordon Resources Pty Ltd
Hydro Carbon Holdings Pty Ltd
Indian Ocean Resources Pty Ltd
Indian Ocean Ventures Pty Ltd
Shetland Talc Limited
Southern Cross Royalties Limited
Starmont Holdings Pty Ltd
Starmont Ventures Pty Ltd
Woodford Wells Pty Ltd
----------------------------------
Mark Potter does not hold any shares in the Company. Metal Tiger
plc, of which Mark Potter is a Director and Chief Investment
Officer, holds 74,050,000 Thor Ordinary Shares of 0.01p each,
representing 9.01 per cent. Of the Company's Total Voting
Rights.
There is no further information that is required to be disclosed
pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM Rules
for Companies
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.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining PLC Executive Chairman
1935
Ray Ridge +61 (8) 7324 Thor Mining PLC CFO/Company
1935 Secretary
Colin Aaronson/ +44 (0) 207 383 Grant Thornton UK Nominated Adviser
Richard Tonthat/ Ben 5100 LLP
Roberts
Nick Emerson +44 (0) 1483 SI Capital Ltd Joint Broker
Claire Louise Noyce 413 500 Hybridan LLP Joint Broker
/ +44 (0) 203
John Beresford-Peirse 764 2341
Tim Blythe/ Camilla +44 (0) 207 138 Blytheweigh Financial PR
Horsfall 3222
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) 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 August 2018(1) suggested attractive returns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in
deposits of tungsten, copper, and vanadium, including an Inferred
resource for the Bonya copper deposit(2).
Thor also holds 100% of the Pilot Mountain tungsten project in
Nevada USA which has a JORC 2012 Indicated and Inferred Resources
Estimate(3) on 2 of the 4 known deposits. The US Department of the
Interior has confirmed that tungsten, the primary resource mineral
at Pilot Mountain, has been included in the final list of Critical
Minerals 2018.
Thor is also acquiring up to a 30% interest 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 in South Australia recoverable by way of in situ
recovery , and also holds rights to earn a 75% interest in portion
of the Moonta Copper project also in South Australia, and is
considered amenable to recovery by way of in situ recovery .
Thor has an interest in Hawkstone Mining Limited, an Australian
ASX listed company with a 100% Interest in a Lithium project in
Arizona, USA.
Finally, Thor also holds a production royalty entitlement from
the Spring Hill Gold project of:
-- A$6 per ounce of gold produced from the Spring Hill
tenements, sold for up to A$1,500 /oz; and
-- A$14 per ounce of gold produced from the Spring Hill
tenements, sold for amounts over A$1,500 /oz.
Notes
(1) Refer ASX and AIM announcement of 23 August 2018
(2) Refer ASX and AIM announcement of 26 November 2018
(3) Refer AIM announcement of 13 December 2018 and ASX
announcement of 14 December 2018
Refer AIM announcement of 10 February 2016 and ASX announcement
of 12 February 2018
Refer AIM announcement of 5 March 2019 and ASX announcement of 6
March 2019
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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