Thor Mining PLC Receipt of Research & Development Tax Incentive (7447Z)
September 22 2020 - 6:48AM
UK Regulatory
TIDMTHR
RNS Number : 7447Z
Thor Mining PLC
22 September 2020
22 September 2020
THOR MINING PLC
RECEIPT OF A$173,000 RESEARCH & DEVELOPMENT TAX
INCENTIVE
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) are
pleased to advise receipt of A$173,717.25 by way of a Research
& Development Tax Incentive refund from the Australian
Government, Department of Industry, Innovation and Science.
The refund covers a portion of expenditure during the 2019/20
fiscal year on eligible research activities on Australian
projects.
Mick Billing, Executive Chairman of Thor Mining, commented:
"We are very pleased to have our cash position boosted by this R
& D refund."
"Thor Mining is entering a period of very active work at our
Ragged Range gold project, and also with scheduled gold drilling at
the Kapunda copper project, and uranium drilling in the USA. These
funds, along with those from the recently announced placing of just
over GBP1.0million will be utilised on those projects, with regular
newsflow expected ."
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 Secretary
1935
Samantha Harrison/Niall +44 (0) 207 Grant Thornton Nominated Adviser
McDonald 383 5100 UK LLP
Nick Emerson +44 (0) 1483 SI Capital Ltd Broker
413 500
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 in 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 . Thor also holds rights to earn a 75% interest in portion
of the Moonta Copper project also in South Australia, and is also
considered amenable to recovery by way of in situ recovery .
Thor 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.
At the 100% owned Ragged Range Project in the Pilbara region of
Western Australia, Thor has exciting early stage results for which
gold and nickel drilling is planned."
"Thor holds mineral claims in the US states of Colorado and Utah
with historical high grade uranium and vanadium drilling and
production results."
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
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCKKBBQKBKDACB
(END) Dow Jones Newswires
September 22, 2020 06:48 ET (10:48 GMT)
Thor Energy (LSE:THR)
Historical Stock Chart
From Jul 2024 to Aug 2024
Thor Energy (LSE:THR)
Historical Stock Chart
From Aug 2023 to Aug 2024