Thor Mining PLC Result of General Meeting (9195Z)

TIDMTHR

RNS Number : 9195Z

Thor Mining PLC

23 May 2019

23 May 2019

THOR MINING PLC

RESULT OF GENERAL MEETING

The Board of Thor Mining Plc ("Thor" or "the Company")) (AIM, ASX: THR) is pleased to announce that at the general meeting held earlier today, all resolutions were duly passed.

As a result, the Company will proceed to issue Thor 26,500,000 warrants as part consideration for the acquisition of two Australian private companies, Hamersley Metals Pty Ltd and Pilbara Goldfields Pty Ltd as announced on 27 March 2019. The warrants have an exercise price of GBP0.013 (1.3 pence) and an expiry date three years from the date of issue.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

 
Mick Billing           +61 (8) 7324     Thor Mining PLC             Executive Chairman 
                        1935 
Ray Ridge              +61 (8) 7324     Thor Mining PLC             CFO/Company 
                        1935                                         Secretary 
Colin Aaronson/        [phone]  Grant Thornton UK LLP       Nominated Adviser 
 Richard Tonthat/ Ben   5100 
 Roberts 
Nick Emerson           +44 (0) 1483     SI Capital Ltd              Joint Broker 
                        413 500 
David Hignell / Rob    [phone]  SP Angel Corporate Finance  Joint Broker 
 Rees                   0470             LLP 
Tim Blythe/ Camilla    [phone]  Blytheweigh                 Financial PR 
 Horsfall               3222 
 

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

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May 23, 2019 04:35 ET (08:35 GMT)