Thor Mining PLC EXERCISE OF WARRANTS (3306X)
23 November 2017 - 7:13PM
UK Regulatory
TIDMTHR
RNS Number : 3306X
Thor Mining PLC
23 November 2017
23 November 2017
THOR MINING PLC
EXERCISE OF WARRANTS
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR), is pleased to advise that it has received binding
warrant exercise notices for the conversion of 18,113,051 warrants
at the exercise prices shown below, resulting in aggregate gross
proceeds being receivable by the Company of GBP216,598.
This brings the total gross proceeds from the exercise of
warrants and options since the beginning of November 2017 to
GBP966,882.
Number of warrants Exercise price Proceeds received
Exercised
------------------- --------------- ------------------
252,914 0.9 pence LIR2,276
17,860,137 1.2 pence LIR214,322
Settlement and dealings
Application will be made to the AIM Market of the London Stock
Exchange ("AIM") for 18,113,051 Thor ordinary shares of 0.01p each
("Ordinary Shares"), pursuant to the warrant exercise, which rank
pari passu with the Company's existing issued Ordinary Shares, to
be admitted to trading. Dealings on AIM are expected to commence at
8:00am on or around 29 November 2017 ("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission, Thor
will have 533,964,556 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
533,964,556 may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in the Company, under the ASX Listing Rules or the
DTRs.
Subject to receiving shareholder approval at the forthcoming AGM
to complete the conditional placing announced on 20 October 2017,
and assuming that Thor issues no further Ordinary Shares in the
meantime, following the completion of the conditional placing, Thor
will have 575,115,870 Ordinary Shares in issue.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining Executive
1935 PLC Chairman
Ray Ridge +61 (8) 7324 Thor Mining CFO/Company
1935 PLC Secretary
Colin Aaronson/ +44 (0) 207 Grant Thornton Nominated
Daniel Bush/ 383 5100 UK LLP Adviser
Richard Tonthat
Elliot Hance +44 (0) 207382 Beaufort Securities Joint Broker
8300 Limited
Nick Emerson +44 (0) 1483 SI Capital Ltd Joint Broker
413 500
Tim Blythe/ Camilla +44 (0) 207 Blytheweigh Financial
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, and on the Company's
twitter page @ThorMining.
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.
About Thor Mining PLC
Thor Mining PLC 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 2015(1) suggested attractive returns. Thor also holds 100%
of the Pilot Mountain tungsten project in Nevada USA which has a
JORC 2012 Indicated Resources Estimate(2) on 1 of the 4 known
deposits.
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 portion of the historic Kapunda copper
mine in South Australia recoverable by way of in situ recovery.
Thor also holds a production royalty entitlement from the Spring
Hill Gold project(3) 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 12 January 2015
-- (2) Refer AIM announcement of 22 May 2017 and ASX announcement of 23 May 2017
-- (3) Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016
-- At the date of this announcement gold is trading at approximately A$1,690/oz
This information is provided by RNS
The company news service from the London Stock Exchange
END
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