TIDMTHR
RNS Number : 4486Z
Thor Mining PLC
18 September 2020
18 September 2020
THOR MINING PLC
EXERCISE OF WARRANTS
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR), advises that it has received a binding warrant exercise
notice for the exercise of 9,450,000 warrants over ordinary shares
of 0.01 pence each in the capital of the Company ("Ordinary
Shares"), each with an exercise price of 0.2 pence per warrant. The
gross proceeds of the exercise of these warrants amounts in
aggregate to GBP18,900.
Application has been made for 9,450,000 new Ordinary Shares,
which rank pari passu with the Company's existing issued ordinary
share capital, to be admitted to trading on the AIM Market of the
London Stock Exchange ("AIM"). Dealings on AIM are expected to
commence at 8.00 a.m. on 23 September 2020 ("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission, Thor
will have 1,315,621,467 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
1,315,621,467 may 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.
As previously announced on 14 September 2020, Thor expects to
issue a further 123,750,000 new Ordinary Shares, pursuant to a
placement, with dealings on AIM expected to commence 8 a.m. on 28
September 2020. Following the admission of 123,750,000 Ordinary
Shares on 28 September 2020, Thor will then have 1,439,371,467
Ordinary Shares in issue with voting rights attached. From the 28
September 2020, this figure of 1,439,371,467 may 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.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining PLC Executive Chairman
1935
Ray Ridge +61 (8) 7324 Thor Mining PLC CFO/Company
1935 Secretary
Samantha Harrison/ +44 (0) 207 383 Grant Thornton UK Nominated Adviser
Niall McDonald 5100 LLP
Nick Emerson +44 (0) 1483 SI Capital Ltd Joint Broker
413 500
Updates on the Company's activities are regularly posted on
Thor's website w w w.th o r m i n i ng .c o m , 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 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 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.
The Company also has exciting gold interests at Ragged Range in
the Pilbara region of Western Australia.
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 2018 and ASX announcement
of 12 February 2018
Refer ASX and AIM announcement of 15 August 2019
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