TIDMTHR
RNS Number : 0127V
Thor Mining PLC
28 November 2019
28 November 2019
THOR MINING PLC
RESULTS OF AGM
ISSUE OF EQUITY
The directors of Thor Mining Plc ("Thor" or "the Company") (AIM,
ASX: THR) announce that at the AGM held earlier today, all
resolutions were passed other than resolution 2. As announced
earlier today, Resolutions 3 and 8 which were withdrawn prior to
the meeting.
Proxy results for resolutions other than resolutions 3 and 8,
were as follows:
Resolution For Against Discretion of Withheld
the Chairman
------------ ------------ -------------- -----------
1 210,753,297 24,268,384 466 483,294
------------ ------------ -------------- -----------
2 81,311,026 153,613,867 160,466 420,482
------------ ------------ -------------- -----------
4 212,762,602 22,162,291 160,466 420,482
------------ ------------ -------------- -----------
5 193,926,627 37,364,146 466 4,214,602
------------ ------------ -------------- -----------
6 191,621,642 43,757,988 466 125,745
------------ ------------ -------------- -----------
7 205,208,153 29,562,590 466 734,632
------------ ------------ -------------- -----------
9 162,039,173 72,771,495 160,466 534,707
------------ ------------ -------------- -----------
10 107,000,655 43,101,279 160,466 677,977
------------ ------------ -------------- -----------
11 106,353,321 43,732,413 160,466 633,857
------------ ------------ -------------- -----------
12 124,818,833 74,891,271 466 34,995,271
------------ ------------ -------------- -----------
13 150,006,773 75,647,151 466 9,851,451
------------ ------------ -------------- -----------
ISSUE OF EQUITY
As a result of the passage of resolutions 11, 12 and 13, the
Company will issue 141,666,667 Thor ordinary shares of 0.01p each
("Ordinary Shares") in order to complete the placing of Ordinary
Shares at 0.2p per share announced on 22 October 2019. Included in
the issue of shares are 10,000,000 Ordinary Shares to Mick Billing
and 2,500,000 to David Thomas, as announced on 22 October 2019.
Application has been made for the admission of the 141,666,667
Ordinary Shares to trading on AIM with admission expected to take
place on 29 November 2019.
Following the issue of the 141,666,667 Ordinary Shares, Thor
will have 1,076,646,863 Ordinary Shares in issue.
Following the issue of the 10,000,000 Ordinary Shares, Mick
Billing holds 45,407,423 Ordinary Shares representing 4.22 per
cent. of the Company's issued share capital. In addition, Mr
Billing holds 7,500,000 warrants to subscribe for Ordinary
Shares.
TOTAL VOTING RIGHTS
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission, Thor
will have 1,076,646,863 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
1,076,646,863 ay 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 Company, under the ASX Listing Rules or the
DTRs.
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) 203 764
John Beresford-Peirse 2341
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 holds a 25% interest Australian copper development company
EnviroCopper Limited (with rights to increase its interest to 30%).
EnviroCopper Limited 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
-- rights to earn up to 75% of the Moonta copper project, also
in South Australia comprising the northern portion of exploration
licence EL5984 and includes a resource estimate for several
deposits.
Thor has an interest in Hawkstone Mining Limited, an Australian
ASX listed company with a 100% Interest in a Lithium project with a
JORC compliant resource 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
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 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 ASX and AIM announcement of 15 August 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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