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Maybe they are moving into the personal protection and face mask business like ZEN did.
Either way we’re boned !
A reverse take over on an AIM company is an acquisition by an AIM company of a target company or assets that is bigger than it or that it will change the fundamental nature of the AIM company. It`s much cheaper and quicker for an ambitious private company to become a quoted public company this way than going through the IPO process as I understand it. A fund raise would be done at the same time .
'They're probably going to buy a bit of desert of a mate for some ridiculous sum of money.'
And he will probably get some Polar Bears and open a circus !
Might see some prophet before the END but the wrong sort !
They're probably going to buy a bit of desert of a mate for some ridiculous sum of money.
It always surprises me when there can be a trading halt in Oz but trade continues in UK market.
The RNS refers to an acquisition"by" the company(and a fundraise) so cant be a RTO.
H
I 'd doubt Billing is comp!etely in control now. He shafted eveyone with the 0.2p raise last year and lost the faith of MTR and Johnson & Co and didn't deliver on Molyhill. Now, he still hasn't delivered anything but the cash had run out so MTR/Johnson will be the ones steering the boat if he wants the cash. . The ony minor good news there has been no obvious dumping of shares, infact someone has been buying blocks of 1million.so cant see it being below 0.2p..
I doubt you're wrong gkb47.
Thor could be used to reverse a larger non quoted company into it ie a reverse take-over or is this wishful thinking? A gold miner would be nice.
28 May 2020
THOR MINING PLC
ASX TRADING HALT
The Directors of Thor Mining plc ("the Company") advise that trading in the shares of the Company have been halted on the Australian Securities Exchange ("ASX") effective from Thursday 28 May 2020 in accordance with ASX Listing Rule 17.1, pending an announcement related to the entering into an exclusivity arrangement in respect of a potential acquisition by the Company and an associated fundraising.
The ASX trading halt will remain in place until the earlier of the commencement of trading on Wednesday 3 June 2020 or the release of an announcement by the Company.
Trading in the Company's ordinary shares will continue on AIM during this period.
Enquiries:
Mick Billing
+61 (8) 7324 1935
Thor Mining PLC
Executive Chairman
Ray Ridge
+61 (8) 7324 1935
Thor Mining PLC
CFO/Company
Secretary
Colin Aaronson/
Richard Tonthat/ Niall McDonald
+44 (0) 207 383 5100
Grant Thornton UK LLP
Nominated Adviser
Nick Emerson
Claire Louise Noyce /
John Beresford-Peirse
+44 (0) 1483 413 500
+44 (0) 203 764 2341
SI Capital Ltd
Hybridan LLP
Joint Broker
Joint 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 2018¹ 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 White Violet and Samarkand tungsten deposits and the Bonya copper deposit².
Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ 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 resource4 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 estimate5 for several deposits.
Thor also holds a production royalty entitlemen