Thor Mining PLC Result of AGM (7510I)

TIDMTHR

RNS Number : 7510I

Thor Mining PLC

28 November 2018

28 November 2018

THOR MINING PLC

RESULT OF ANNUAL GENERAL MEETING

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) are pleased to announce that all resolutions proposed at the Annual General Meeting of the Company held on 28 November 2018 in London, were duly passed without amendment.

In addition to the usual resolutions which are considered at an Annual General Meeting, pursuant to ASX Listing Rule 7.4, shareholders ratified the issue of Equity Securities that were previously issued within the Company's placement capacity under ASX Listing Rule 7.1. The shares issued under ASX Listing Rule 7.1 related to the issue of 10,000,000 Ordinary Shares and 10,000,000 Warrants to an existing Shareholder, Metal Tiger PLC, announced on 23 January 2018 and the issue of 14,527,205 Ordinary Shares to Rox Resources Limited announced on 4 October 2018, in satisfaction of the AUD$550,000 purchase price for the acquisition of an interest in two exploration tenements in the Bonya Creek area, approximately 30 kilometres from Molyhil in Australia's Northern Territory.

The ratification under ASX Listing Rule 7.4 has the effect of refreshing the Company's placement capacity under ASX Listing Rule 7.1.

Enquiries:

 
Mick Billing         [phone]  Thor Mining PLC    Executive Chairman 
Ray Ridge            [phone]  Thor Mining PLC    CFO/Company 
                                                            Secretary 
Colin Aaronson/      [phone]    Grant Thornton UK  Nominated Adviser 
 Richard Tonthat/     5100               LLP 
 Ben Roberts 
Nick Emerson         [phone]   SI Capital Ltd     Joint Broker 
                      500 
David Hignell        [phone]     Northland Capital  Joint Broker 
 / Rob Rees /         6625               Partners Limited 
 Isabella Pierre 
Tim Blythe/ Camilla  [phone]    Blytheweigh        Financial PR 
 Horsfall             3222 
 

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.

Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate(2) 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 is also acquiring up to a 60% interest Australian copper development company Environmental Copper Recovery SA Pty Ltd, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource(3) on the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery.

Thor has an interest in Hawkstone Mining Limited, an Australian ASX listed company with a 100% Interest in a Lithium project 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 AIM announcement of 22 May 2017 and ASX announcement of 23 May 2017

(3) Refer AIM announcement of 10 February 2016 and ASX announcement of 12 February 2018

Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2017

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November 28, 2018 05:17 ET (10:17 GMT)