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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% | 1.30 | 1.20 | 1.40 | 1.30 | 1.30 | 1.30 | 7,368 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Misc Nonmtl Minrls, Ex Fuels | 0 | -520k | -0.0019 | -6.84 | 3.62M |
From Apr 2019 to Apr 2024
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
Hot Features
Premium
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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