TIDMTHR
RNS Number : 5409S
Thor Mining PLC
17 March 2021
17 March 2021
Thor Mining PLC
THOR MINING COMMENCES TRADING ON OTCQB Venture MARKET in the
United States
Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR, OTCQB:
THORF) is pleased to announce that trading in the Company's
ordinary shares will begin today on the OTCQB Market in the United
States, under the ticker "THORF".
The OTCQB Venture Market is for early-stage and developing U.S.
and international companies. To be eligible, companies must be
current in their reporting and undergo an annual verification and
management certification process.
B. Riley Securities acted as the Company's OTCQB sponsor. B.
Riley Securities, Inc. is a full-service investment bank and
subsidiary of B. Riley Financial, Inc., based in Los Angeles with
offices across the United States, providing corporate finance,
research, sales and trading services.
Trading on the OTCQB market has no impact on existing Thor
ordinary shares, which will continue to trade on the London Stock
Exchange (LSE) and the Australian Securities Exchange (ASX) under
the symbol "THR", and no new ordinary shares will be issued as part
of the cross-trade. Thor will continue to rely on the announcements
and disclosures it makes to LSE and ASX and will have no
Sarbanes-Oxley or SEC reporting requirements.
Mick Billing, Executive Chairman of Thor Mining, commented:
"We are delighted to be able to commence trading on the OTCQB
platform, and to improve access for U.S. institutional and retail
investors to invest in the Company and share in the growth of Thor
Mining PLC.
"In addition to our portfolio of Australian projects, the
Company holds a 100% interest in exciting uranium and vanadium
exploration assets in Colorado, and Utah, where drilling is
scheduled shortly, and 100% of the large Pilot Mountain tungsten
resource in Nevada. We are hopeful that these projects will be
attractive to U.S. investors, and are pleased to be able to provide
the US investment platform opportunity."
- Ends -
For further information on the Company, please visit
www.thormining.com or contact the following:
Thor Mining PLC
Mick Billing, Executive Chairman Tel: +61 (8) 7324 1935
Ray Ridge, CFO / Company Secretary Tel: +61 (8) 7324 1935
WH Ireland Limited (Nominated Adviser Tel: +44 (0) 207 220
and Joint Broker) 1666
Jessica Cave / Darshan Patel
Jasper Berry (Corporate Broking)
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483 413
500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004
9512
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR; OTCQB: THORF) is a diversified
resource company quoted on the AIM Market of the London Stock
Exchange, ASX in Australia and OTCQB Market in the United
States.
The Company is advancing its diversified portfolio of precious,
base, energy and strategic metal projects across USA and Australia.
Its focus is on progressing its copper, gold, uranium and vanadium
projects, while seeking investment/JV opportunities to develop its
tungsten assets.
Thor owns 100% of the Ragged Range Project, comprising 92 km(2)
of exploration licences with highly encouraging early stage gold
and nickel results in the Pilbara region of Western Australia, for
which drilling is planned in the first half of 2021.
At Alford East in South Australia, Thor is earning an 80%
interest in copper deposits considered amenable to extraction via
Insitu Recovery techniques (ISR). In January 2021, Thor announced
an Inferred Mineral Resource Estimate of 177,000 tonnes contained
copper & 71,000 oz gold(1).
Thor also holds 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 and the
Alford West copper project, both situated in South Australia and
both considered amenable to recovery by way of ISR.(2)(3)
Thor holds 100% interest in two private companies with mineral
claims in the US states of Colorado and Utah with historical
high-grade uranium and vanadium drilling and production
results.
Thor holds 100% of the advanced Molyhil tungsten project,
including indicated and inferred resources , in the Northern
Territory of Australia, which was awarded Major Project Status by
the Northern Territory government in July 2020.
Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in
deposits of tungsten, copper, and vanadium, including Inferred
resource estimates for the Bonya copper deposit, and the White
Violet and Samarkand tungsten deposits.
Thor holds 100% of the Pilot Mountain tungsten project in
Nevada, USA which has a JORC 2012 Indicated and Inferred Resources
Estimate on 2 of the 4 known deposits.
Notes
(1) Refer AIM announcement of 26 January 2021
(2) Refer AIM announcement of 12 February 2018
(3) Refer AIM announcement of 15 August 2019
(4) Refer AIM announcement of 10 October 2019
(5) Refer AIM announcement of 26 November 2018 and AIM
announcement of 29 January 2020
Refer AIM announcements of 13 December 2018, and 22 May 2017
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END
MSCUBRBRASUOARR
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March 17, 2021 03:08 ET (07:08 GMT)
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