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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% | 1.20 | 1.10 | 1.30 | 1.20 | 1.20 | 1.20 | 121,601 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Misc Nonmtl Minrls, Ex Fuels | 0 | -520k | -0.0019 | -6.32 | 3.34M |
From Apr 2019 to Apr 2024
TIDMTHR
RNS Number : 1511V
Thor Mining PLC
29 November 2019
Friday, 29 November 2019
THOR MINING PLC
("Thor" or the "Company")
Issue of Equity
Issue of Options
Appendix 3B
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.
The Appendix 3B has been released following completion of the placing of 141,666,667 Thor ordinary shares of 0.01p each ("Ordinary Shares") as announced on 28 November 2019 ("the Placing").
In addition, the Company has issued options to acquire up to 9,450,000 Ordinary Shares at a price of 0.2p per share to Hybridan LLP, the Company's joint broker in consideration of its efforts in securing subscribers under the Placing. The options have an expiry date of 29 November 2024.
Enquiries:
Hot Features
Premium
Mick Billing +61 (8) 7324 1935 Thor Mining Executive
PLC Chairman
Ray Ridge +61 (8) 7324 1935 Thor Mining CFO/Company
PLC Secretary
Colin Aaronson/ +44 (0) 207 383 Grant Nominated
Richard Tonthat/ 5100 Thornton UK Adviser
Ben Roberts LLP
Claire Louise +44 (0) 203 764 Hybridan LLP Joint
Noyce / 2341 Broker,
John lead
Beresford-Peirse broker to
the placing
Nick Emerson +44 (0) 1483 413 SI Capital Joint
500 Ltd Broker
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, and on the Company's twitter page @ThorMining.
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 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.
Thor holds a 25% interest Australian copper development company EnviroCopper Limited (with rights to increase its interest to 30%). EnviroCopper Limited 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
-- rights to earn up to 75% of the Moonta copper project, also in South Australia comprising the northern portion of exploration licence EL5984 and includes a resource estimate for several deposits.
Thor has an interest in Hawkstone Mining Limited, an Australian ASX listed company with a 100% Interest in a Lithium project with a JORC compliant resource in Arizona, USA.
Finally, Thor also holds a production royalty entitlement from the Spring Hill Gold project of:
-- A$6 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for up to A$1,500 per ounce; and
-- A$14 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 per ounce.
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
Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B
New issue announcement,
application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12
Name of entity Thor Mining PLC ABN 121 117 673
We (the entity) give ASX the following information.
Part 1 -- All issues
You must complete the relevant sections (attach sheets if there is not enough space).
1 +Class of +securities (a) Ordinary shares / CDIs
issued or to be issued (b) Ordinary shares
(c) Unlisted options (termed
warrants in the UK)
2 Number of +securities (a) Transfers of 28,854,908 from
issued or to be issued AIM listed shares on the AIM
(if known) or maximum Market of the London Stock Exchange,
number which may be to ASX listed CDI's, during the
issued period 29 October 2019 to 29
November 2019.
(b) Issue of 141,666,667 Ordinary
Shares as a placement to new
and existing shareholders.
The total number of securities,
listed on both AIM and ASX, is
now 1,076,646,863 as at 29 November
2019.
(c) Grant of 9,450,000, unlisted
options on 29 November 2019,
to the Company's joint sponsoring
broker Hybridan LLP, as part
payment for services provided.
3 Principal terms of This represents:
the +securities (eg, (a) Transfers between AIM listed
if options, exercise shares on the AIM Market of the
price and expiry date; London Stock Exchange, and ASX
if partly paid +securities, listed CDI's.
the amount outstanding (b) Issue of Ordinary Shares
and due dates for payment; ranking pari passu with existing
if +convertible securities, Ordinary Shares.
the conversion price (c) Grant of 9,450,000 Options
and dates for conversion) on 29 November 2019, to the Company's
joint sponsoring broker Hybridan
LLP. The Options have an exercise
price of GBP0.002 (0.2 pence)
and an expiry date of 29 November
2024.
4 Do the +securities (a) Yes.
rank equally in all (b) Yes.
respects from the date (c) Each Option entitles the
of allotment with an holder to acquire one Ordinary
existing +class of Share in Thor. Once exercised
quoted +securities? the Shares will rank equally
with existing Ordinary Shares.
If the additional securities
do not rank equally,
please state:
* the date from which they do
* the extent to which they participate for the next
dividend, (in the case of a trust, distribution)
or
interest payment
* the extent to which they do not rank equally, oth
er
than in relation to the next dividend, distributi
on
or interest payment
5 Issue price or consideration (a) N/A
(b) Issued at a price of GBP0.002
(0.2 pence) per Ordinary Share,
for total consideration of
GBP283,333.33
(c) Nil. The Options were granted
to the Company's joint sponsoring
broker for services provided.
Purpose of the issue (a) N/A
(If issued as consideration (b) Funds raised will be applied
6 for the acquisition to progressing work primarily
of assets, clearly at the Company's core Molyhil
identify those assets) and Bonya tungsten and molybdenum
project in the Northern Territory,
and the In-Situ Copper Recovery
project Thor holds a 25% stake
in with EnviroCopper Ltd., in
South Australia. The funds raised
will also provide the Company
with additional working capital.
(c) The Options were granted
to the Company's joint sponsoring
broker for services provided.
Is the entity an +eligible No
entity that has obtained
6a security holder approval
under rule 7.1A?
If Yes, complete sections
6b - 6h in relation
to the +securities
the subject of this
Appendix 3B, and comply
with section 6i
The date the security N/A
holder resolution under
6b rule 7.1A was passed
Number of +securities (a) N/A
issued without security (b) N/A
6c holder approval under (c) 9,450,000
rule 7.1
Number of +securities N/A
issued with security
6d holder approval under
rule 7.1A
Number of +securities (a) N/A
issued with security (b) 141,666,667 Ordinary Shares
6e holder approval under approved by shareholders on 28
rule 7.3, or another November 2019
specific security holder (c) N/A
approval (specify date
of meeting)
Number of securities N/A
issued under an exception
6f in rule 7.2
If securities issued N/A
under rule 7.1A, was
6g issue price at least
75% of 15 day VWAP
as calculated under
rule 7.1A.3? Include
the issue date and
both values. Include
the source of the VWAP
calculation.
If securities were N/A
issued under rule 7.1A
6h for non-cash consideration,
state date on which
valuation of consideration
was released to ASX
Market Announcements.
Calculate the entity's Refer attached Annexure 1
remaining issue capacity
6i under rule 7.1 and
rule 7.1A - complete
Annexure 1 and release
to ASX Market Announcements
7 Dates of entering +securities (a) Transfers 29 October 2019
into uncertificated to 29 November 2019
holdings or despatch (b) 29 November 2019
of certificates (c) 29 November 2019
Number +Class
Number and +class of
all +securities quoted Ordinary Shares quoted
on ASX (including the by
securities in section ASX ("THR" as CDIs)
8 2 if applicable) 219,543,820 as at 29 November 2019.
-----------------------------------------
9 Number and +class of 857,103,043 Ordinary Shares admitted
all +securities not 10,000,000 to the AIM Market of
quoted on ASX (including 15,000,000 the London Stock Exchange,
the securities in section 1,500,000 as at 29 November 2019.
2 if applicable) 10,000,000 Unlisted Options:
5,000,000 5.0 pence unlisted
15,000,000 warrants expiring 29
47,058,823 January 2020.
26,500,000 1.8 pence unlisted
9,450,000 warrants
expiring 31 March 2020.
1.8 pence unlisted
warrants
expiring 27 June 2020.
1.5 pence unlisted
options expiring 2
November 2020.
4.5 pence unlisted
options expiring 29
December 2020.
3.5625 pence unlisted
options expiring 7
June 2021.
1.3 pence unlisted
options expiring 10
April 2022
1.3 pence unlisted
options expiring 23
May 2022
0.2 pence unlisted
options expiring 29
November 2024
-----------------------------------------
10 Dividend policy (in No Policy
the case of a trust,
distribution policy)
on the increased capital
(interests)
Part 2 -- Bonus issue or pro rata issue - Not Applicable
Part 3 -- Quotation of securities
You need only complete this section if you are applying for quotation of securities
34 Type of securities
(tick one)
(a) ü Securities described in Part 1
(b) All other securities
Example: restricted securities at the end of the
escrowed period, partly paid securities that become
fully paid, employee incentive share securities
when restriction ends, securities issued on expiry
or conversion of convertible securities
Entities that have ticked box 34(a)
Additional securities forming a new class of securities
Tick to indicate you are providing
the information or documents
35 If the +securities are +equity securities, the
names of the 20 largest holders of the additional
+securities, and the number and percentage of
additional +securities held by those holders
36 If the +securities are +equity securities, a distribution
schedule of the additional +securities setting
out the number of holders in the categories
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over
37 A copy of any trust deed for the additional +securities
Entities that have ticked box 34(b)
38 Number of securities
for which +quotation
is sought
39 Class of +securities
for which quotation
is sought
40 Do the +securities
rank equally in all
respects from the date
of allotment with an
existing +class of
quoted +securities?
If the additional securities
do not rank equally,
please state:
* the date from which they do
* the extent to which they participate for the next
dividend, (in the case of a trust, distribution) or
interest payment
* the extent to which they do not rank equally, other
than in relation to the next dividend, distribution
or interest payment
41 Reason for request
for quotation now
Example: In the case
of restricted securities,
end of restriction
period
(if issued upon conversion
of another security,
clearly identify that
other security)
Number +Class
42 Number and +class of
all +securities quoted
on ASX (including the
securities in clause
38)
-------------
Quotation agreement
1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
-- The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
-- There is no reason why those +securities should not be granted +quotation.
-- An offer of the (+) securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.
Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty
-- Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
-- If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.
3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.
Sign here: .............................. Date: 29 November 2019
(Company Secretary)
Print name: Ray Ridge
== == == == ==
Appendix 3B - Annexure 1
Calculation of placement capacity under rule 7.1 and rule 7.1A for (+) eligible entities
Introduced 01/08/12
Part 1
Rule 7.1 - Issues exceeding 15% of capital
Step 1: Calculate "A", the base figure from which the
placement capacity is calculated
Insert number of fully paid as at 28 November 2018 678,196,593
ordinary securities on issue
12 months before date of
issue or agreement to issue
------------------------------------------------
Add the following:
* Number of fully paid ordinary securities issued in Options exercised 7,500,000
that 12 month period under an exception in rule 7.2 (Issued 5/12/18)
Options exercised 31,203,947
* Number of fully paid ordinary securities issued in (Issued 10/12/18)
that 12 month period with shareholder approval
Placement 47,058,823
(issued 10/4/19, EGM 23/5/19)
* Number of partly paid ordinary securities that became
fully paid in that 12 month period Acquisition 53,000,000
(issued 10/4/19, EGM 23/5/19)
Note: Placement 4,687,500
* Include only ordinary securities here - other classes (issued 5/7/19, AGM 28/11/19)
of equity securities cannot be added
Placement 113,333,333
(issued 29/10/19, AGM 28/11/19)
* Include here (if applicable) the securities the
subject of the Appendix 3B to which this form is Placement 141,666,667
annexed (issued 29/11/19, AGM 28/11/19)
* It may be useful to set out issues of securities on
different dates as separate line items
------------------------------------------------
Subtract the number of fully
paid ordinary securities
cancelled during that 12
month period 0
------------------------------------------------
"A" 1,076,646,863
------------------------------------------------
Step 2: Calculate 15% of "A"
"B" 0.15
[Note: this value cannot be
changed]
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Multiply "A" by 0.15 161,497,029
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Step 3: Calculate "C", the amount of placement capacity
under rule 7.1 that has already been used
Insert number of equity securities
issued or agreed to be issued
in that 12 month period not
counting those issued:
* Under an exception in rule 7.2
Options 9,450,000
(Granted 29/11/19)
* Under rule 7.1A
* With security holder approval under rule 7.1 or rule
7.4
Note:
* This applies to equity securities, unless
specifically excluded - not just ordinary securities
* Include here (if applicable ) the securities the
subject of the Appendix 3B to which this form is
annexed
* It may be useful to set out issues of securities on
different dates as separate line items
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
"C" 9,450,000
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Step 4: Subtract "C" from ["A" x "B"] to calculate remaining
placement capacity under rule 7.1
"A" x 0.15
Note: number must be same
as shown in Step 2 161,497,029
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Subtract "C"
Note: number must be same
as shown in Step 3 9,450,000
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Total ["A" x 0.15] - "C" 152,047,029
[Note: this is the remaining
placement capacity under rule
7.1]
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
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.
END
MSCGCBDBIUDBGCC
(END) Dow Jones Newswires
November 29, 2019 05:01 ET (10:01 GMT)
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