Thor Mining PLC Spring Hill Royalty Update (1043F)
12 November 2020 - 7:00PM
UK Regulatory
TIDMTHR
RNS Number : 1043F
Thor Mining PLC
12 November 2020
12 November 2020
THOR MINING PLC
SPRING HILL ROYALTY SALE UPDATE
The directors of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR) are pleased to advise that f urther to the announcement
of 14 July 2020 of the sale of the Spring Hill royalty entitlement,
the Company announces that while approval of the acquisition by
Trident of the Spring Hill Royalty by Australia's Foreign
Investment Review Board has not yet been received, it is expected
shortly and the parties have agreed to extend the period during
which completion can take place to 30 November 2020.
A further announcement will be made as appropriate.
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 Secretary
1935
Samantha Harrison/Niall +44 (0) 207 Grant Thornton Nominated Adviser
McDonald 383 5100 UK LLP
Nick Emerson +44 (0) 1483 SI Capital Ltd Broker
413 500
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 Inferred
resource estimates for the Bonya copper deposit, and the White
Violet and Samarkand tungsten deposits(2).
Thor is also acquiring up to a 30% interest in Australian copper
development company EnviroCopper Limited, 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 also holds rights to earn a 75% interest in portion
of the Alford West copper project also in South Australia, and is
also considered amenable to recovery by way of in situ recovery
.
Thor 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.
At the 100% owned Ragged Range Project in the Pilbara region of
Western Australia, Thor has exciting early stage results for which
gold and nickel drilling is planned."
"Thor holds mineral claims in the US states of Colorado and Utah
with historical high grade uranium and vanadium drilling and
production results."
Notes
(1) Refer ASX and AIM announcement of 23 August 2018
(2) Refer ASX and AIM announcement of 26 November 2018, and 29
January 2020
(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
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END
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