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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Thor Energy Plc | LSE:THR | London | Ordinary Share | GB00BRJ52319 | ORD GBP0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.90 | 0.80 | 1.00 | 0.90 | 0.90 | 0.90 | 235,437 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Nonmtl Minrls, Ex Fuels | 0 | -520k | -0.0019 | -4.74 | 2.51M |
TIDMTHR
RNS Number : 5967N
Thor Mining PLC
27 October 2016
Thursday, 27 October 2016
THOR MINING PLC
Thor Mining PLC ("Thor" or the "Company")
The Directors of Thor Mining PLC (AIM, ASX: THR) today released the following announcement on the Australian Securities Exchange ("ASX") as required under the listing rules of the ASX.
+Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16
Name of entity ---------------------------------------- THOR MINING PLC ---------------------------------------- ABN Quarter ended ("current quarter") ------------ ------------------------ 121 117 673 30 September 2016 ------------ ------------------------ Consolidated statement Current quarter Year to date of cash flows $A'000 (3 months) $A'000 --------------------------------------- ---------------- ------------- 1. Cash flows from operating activities 1.1 Receipts from customers - - 1.2 Payments for (a) exploration & evaluation (203) (203) (b) development - - (c) production - - (d) staff costs (10) (10) (e) administration and corporate costs (241) (241) 1.3 Dividends received - - (see note 3) 1.4 Interest received - - 1.5 Interest and other - - costs of finance paid 1.6 Income taxes paid - - 1.7 Research and development - - refunds 1.8 Other (provide details - - if material) ---------------- ------------- Net cash from / (used 1.9 in) operating activities (454) (454) ----- -------------------------------- ---------------- ------------- 2. Cash flows from investing activities 2.1 Payments to acquire: (a) property, plant and equipment - - (b) tenements (see - - item 10) (c) investments - - (d) other non-current - - assets 2.2 Proceeds from the disposal of: (a) property, plant and equipment - - (b) tenements (see - - item 10) (c) investments - - (d) other non-current - - assets 2.3 Cash flows from loans - - to other entities 2.4 Dividends received - - (see note 3) 2.5 Other (provide details - - if material) ---------------- ------------- 2.6 Net cash from / (used - - in) investing activities ------- ------------------------------ ---------------- ------------- 3. Cash flows from financing activities Proceeds from issues 3.1 of shares 170 170 3.2 Proceeds from issue of convertible notes 3.3 Proceeds from exercise of share options 3.4 Transaction costs related to issues of shares, convertible notes or options 3.5 Proceeds from borrowings 30 30 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) ---------------- ------------- Net cash from / (used 3.10 in) financing activities 200 200 ------- ------------------------------ ---------------- ------------- 4. Net increase / (decrease) in cash and cash equivalents for the period Cash and cash equivalents 4.1 at beginning of period 307 307 Net cash from / (used in) operating activities 4.2 (item 1.9 above) (454) (454) 4.3 Net cash from / (used - - in) investing activities (item 2.6 above) Net cash from / (used in) financing activities 4.4 (item 3.10 above) 200 200 Effect of movement in exchange rates on 4.5 cash held (18) (18) ---------------- ------------- Cash and cash equivalents 4.6 at end of period 35 35 ------- ------------------------------ ---------------- ------------- 5. Reconciliation of cash Current quarter Previous and cash equivalents $A'000 quarter at the end of the quarter $A'000 (as shown in the consolidated statement of cash flows) to the related items in the accounts ---- ------------------------------- ---------------- --------- 5.1 Bank balances 35 307 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) ---------------- --------- Cash and cash equivalents at end of quarter (should 5.5 equal item 4.6 above) 35 307 ---- ------------------------------- ---------------- --------- 6. Payments to directors of the entity Current quarter and their associates $A'000 ---------------- Aggregate amount of payments to these parties included in item 6.1 1.2 18 ---------------- 6.2 Aggregate amount of cash flow - from loans to these parties included in item 2.3 ---------------- 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2 ---- -------------------------------------------------------- The CEO is paid $6,000 per month in cash. The excess above this monthly amount is accumulated and paid by way of the issue of shares in lieu of salary, subject to shareholder approval at the AGM. During the quarter, one Director advanced a loan to the Company of $30,000. This was subsequently repaid by the Company through the issue of shares on 11 October 2016. -------------------------------------------------------------- 7. Payments to related entities of Current quarter the entity and their associates $A'000 ---------------- 7.1 Aggregate amount of payments to - these parties included in item 1.2 ---------------- 7.2 Aggregate amount of cash flow - from loans to these parties included in item 2.3 ---------------- 7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2 ---- -------------------------------------------------------- 8. Financing facilities Total facility Amount drawn available amount at at quarter Add notes as necessary quarter end end for an understanding $A'000 $A'000 of the position --------------- ------------- 8.1 Loan facilities --------------- ------------- 8.2 Credit standby arrangements --------------- ------------- 8.3 Other (please specify) 203,400 203,400 --------------- ------------- 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well. ---- ------------------------------------------------------------ Directors, and former Directors, have advanced funds to the Company on an unsecured and interest free basis. Subsequent to the end of the quarter ended 30 September 2016, $70,000 was repaid by the Company through the issue of shares on 11 October 2016.
------------------------------------------------------------------ 9. Estimated cash outflows $A'000 for next quarter ---- ------------------------------ ------- 9.1 Exploration and evaluation (206) 9.2 Development - 9.3 Production - 9.4 Staff costs (10) Administration and corporate 9.5 costs (180) 9.6 Other (provide details if - material) ------- 9.7 Total estimated cash outflows (396) ---- ------------------------------ -------
The Company has received GBP232,500 (approximately A$387,000) in October, from a capital raise. The Company will also be finalising its annual claim for the Research & Development Refund during the next quarter.
10. Changes in Tenement Nature of interest Interest Interest tenements reference at beginning at end (items 2.1(b) and location of quarter of quarter and 2.2(b) above) ----- ---------------------- -------------- ----------------------- -------------- ------------ Interests in mining tenements and petroleum Tenement relinquished. tenements (the Company lapsed, relinquished had 60% precious 10.1 or reduced E63/1102 metals rights) 60% - ----- ---------------------- -------------- ----------------------- -------------- ------------ 10.2 Interests in mining tenements and petroleum tenements acquired or increased ----- ---------------------- -------------- ----------------------- -------------- ------------
Compliance statement
1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters disclosed.
Sign here: ............................................................ Date: .......27 October 2016............
(Company secretary)
Print name: ..Ray Ridge.........................................
Notes
1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining PLC Executive 1935 Chairman Ray Ridge +61 (8) 7324 Thor Mining PLC CFO/Company 1935 Secretary Colin Aaronson/ +44 (0) 207 Grant Thornton UK Nominated Daniel Bush/ 383 5100 LLP Adviser Richard Tonthat Gerry Beaney/ +44 (0) 20 Northland Capital Joint Broker David Hignell 3861 6625 Partners Limited John Howes Nick Emerson +44 (0) 1483 SI Capital Joint Broker / 413 500 Andy Thacker Tim Blythe/ +44 (0) 207 Blytheweigh Financial Camilla Horsfall 138 3222 PR
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGUBDGUSDBGLR
(END) Dow Jones Newswires
October 27, 2016 02:01 ET (06:01 GMT)
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