TIDMTHR
RNS Number : 4916G
Thor Mining PLC
25 November 2020
25 November 2020
THOR MINING PLC
RESULTS OF ANNUAL GENERAL MEETING
ISSUE OF EQUITY
The Directors of Thor Mining Plc ("Thor" or "the Company") (AIM,
ASX: THR) announce that at the Annual General Meeting held earlier
today, all resolutions were passed.
Proxy results for all resolutions were as follows:
Resolution For Against Discretion Withheld
of the
Chairman
1 113,157,481 624,027 4,287 2,016,841
--------------------- --------------------- ---------------------- ----------------------
2 108,939,598 5,714,982 6,447 1,141,609
--------------------- --------------------- ---------------------- ----------------------
3 108,756,704 770,984 4,287 6,270,661
--------------------- --------------------- ---------------------- ----------------------
4 107,858,698 737,504 4,287 7,202,147
--------------------- --------------------- ---------------------- ----------------------
5 107,826,817 1,544,510 4,287 6,427,022
--------------------- --------------------- ---------------------- ----------------------
6 106,240,279 7,229,384 4,287 2,328,686
--------------------- --------------------- ---------------------- ----------------------
7 103,737,956 10,344,646 4,287 1,715,747
--------------------- --------------------- ---------------------- ----------------------
8 51,730,590 6,698,240 4,287 57,369,519
--------------------- --------------------- ---------------------- ----------------------
9 55,263,770 786,006 4,287 8,353,847
--------------------- --------------------- ---------------------- ----------------------
10 112,693,014 1,013,190 4,287 2,092,145
--------------------- --------------------- ---------------------- ----------------------
ISSUE OF EQUITY
As a result of the passage of resolution 8, the Company will
issue 2,647,059 Ordinary Shares of 0.01p each ("Ordinary Shares")
at A$0.017 (1.7 cents) per Ordinary Share to the Directors in lieu
of Directors Fees that were otherwise payable in cash,
comprising:
-- 661,765 Ordinary Shares to Mr Michael Billing in lieu of 50%
of Directors fees for the 6 months ending 31 December 2020
(A$11,250);
-- 661,765 Ordinary Shares to Mr Mark McGeough in lieu of 50% of
Directors fees for the 6 months ending 31 December 2020 (A$11,250);
and
-- 1,323,529 Ordinary Shares to Mr Mark Potter in lieu of 100%
of Directors fees for the 6 months ending 31 December 2020
(A$22,500);
Application has been made for the admission of the 2,647,059
Ordinary Shares to trading on AIM with admission expected to take
place on 27 November 2020.
Following the issue of the 2,647,059 Ordinary Shares, Thor will
have 1,515,351,859 Ordinary Shares in issue.
Following the issue Ordinary Shares and warrants to Directors,
each Director will hold:
Director Existing Shares Resultant Shares Options
Shares held to be issued held held
------------- -------------------
Number Number %
------------- -------------- ----------- ------ -----------
Michael Billing 51,494,725 661,765 52,156,490 3.44% 14,750,000
------------- -------------- ----------- ------ -----------
Mark McGeough 833,333 661,765 1,495,098 0.10% 416,667
Mark Potter 1,587,302 1,323,529 2,910,831 0.19% 8,000,000
------------- -------------- ----------- ------ -----------
TOTAL VOTING RIGHTS
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission, Thor
will have 1,515,351,859 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
1,515,351,859 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 Secretary
1935
Colin Aaronson/Niall +44 (0) 207 Grant Thornton Nominated Adviser
McDonald 383 5100 UK LLP
Nick Emerson +44 (0) 1483 SI Capital Ltd Broker
413 500
Updates on the C o m pan y 's activities are regular ly p o sted
on Thor's we bsite w w w.th o r m i n i ng .c o m , which includes
a facility to regi ster to receive these updates by email, and on
the Co m pan y's twitter page @ThorMining.
Ab o u t T hor M i n i ng 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.
At the 100% owned Ragged Range 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 2018 and ASX announcement
of 12 February 2018
Refer ASX and AIM announcement of 15 August 2019
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END
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