George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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They set the bar high, half a pence for the warrants. Next raise in a year or so. I think they're going to have to by some more claims as they're running out of places to drill. That's after the Uranium is a flop, as every thing else has been.
Of course their pleased ....salaries paid up for another year so they can achieve nothing . Thor Energy is in reference to all the energy expended drilling and raising funds. It takes alot of effort. Not my opinion. Track record speaks for itself.
Flippers will be out in force tomorrow
I like the wording "pleased to announce" I think they are the only ones
Toilet share...
I make this roughly £1.48m raised at approx 0.39 pence. Was a 22% discount necessary if there was so much demand. More dilution and joys of investing in an AIM miner. Let’s hope they can put it to good use.
Very tough raise for existing shareholders and a huge headwind ahead now on any SP movement above 0.5p - Looks like 378mil shares @ 0.38p with 378mil warrants @ 0.50p ... the initial raise and fully converted warrants might raise a total of £3.25mil but the dilution would be huge. The share float was circa 2bil last week, it would be closer to 3bil with the warrants fully converted from this raise.
No wonder they have been panic selling POW shares over the past few months!
Same old THR, placings galore. This is another largish one for them. May be yet another consolidation soon. What a lifestyle company they are.
The full announcement is here:
https://www2.asx.com.au/markets/company/thr
Capital Raise
The Company has raised gross proceeds of A$2,650,000 via the placing of 378,571,429 Placing Shares at aprice of A$0.007 per Placing Share.
Subject to shareholder approval, the placees are to receive three options for every four Placing Shares subscribed, exercisable at $0.009 expiring 2 years from issue , being a total of 283,928,583 options. The Shareholder Meeting to consider this matter is expected to occur in early January 2023. The Company will lodge a Notice of Meeting on or by 9 December 2022.
Funds raised to be utilised for exploration activities at the Company’s uranium projectsin the United States, with funds also being used to progress gold, nickel and lithium exploration activities at Ragged Range in the Pilbara region of Western Australia, as well as for general working capital purposes.
The Placing price represents a discount of 22% to the last ASX-traded price of A$0.009 on 24 November 2022 and a 23% discount to the VWAP of the last 15 days traded prior to that date. The Placing Shares being issued represent approximately 19% of the existing issued ordinary share capital of the Company prior to the Placing.
Subject to shareholder approval, the Company will also grant 94,642,858 options to DealAccess as part consideration for services provided as lead manager for the capital raise (“Broker Options”). These will be of the same class as those options issued to Australian placees, having an exercise price of $0.009 and expire two yearsfrom the issue date.
Thor intends to apply for the quotation of the Placement Options and the Broker Options, subject to meeting the ASX’s minimum listing requirements.
Share Issue
The Company expects to issue 378,571,429 Ordinary Shares at $0.007 per share to raise $2.65 million,utilising the Company’s existing shareholder authorities and placement capacity under ASX listing rules 7.1 and 7.1A.
STRATEGIC PLACEMENT RAISES $2.65M
Proceeds to be used to Advance US Uranium Projects.
Proposed Name Change to “Thor Energy Plc”
The directors of Thor Mining Plc (“Thor” or the “Company”) (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce a successful capital raise of A$2.65m to fund exploration activities at the Company’s project interests, with particular emphasis on the uranium exploration licences in Colorado and Utah in the United States.
Following this placement, including existing cash and listed investments, the Company’s total liquidity position is now circa A$4.0m (before costs of the capital raise).
The Company will also seek shareholder approval to change the Company’s name to “Thor Energy Plc” at a General Meeting of shareholders expected to be held on 4
January 2023. The proposed name change is intended to reflect the Company’s greater focus on its uranium assets within its portfolio.
Highlights:
? The Company has raised gross proceeds of A$2.65m via a placing of 378,571,429 new ordinary shares and Australian Securities Exchange-listed (“ASX") CDI’s (“Ordinary Shares”) (the “Placing Shares”) at a price of A$0.007 (0.7 cents) perOrdinary Share (the “Placing”). Applications to participate in the placement were scaled back following strong demand.
? Subject to shareholder approval, all placees will also receive three options for each four Placing Shares subscribed, being a total of 283,928,583 options (the “Placement Options”. All Placement Options are exercisable at $0.009 (0.9 cents)and expire 2 years from issue date.
? Thor intends to apply for the quotation of the options, subject to meeting the ASX’s minimum listing requirements.
? The allotment of the Placing Shares will not be subject to shareholder approval, falling within the Company’s existing shareholder authorities and placement capacity under ASX Listing Rules 7.1 and 7.1A.
? Strong support was received from existing and new shareholders,strengthening the Company’s share register. DealAccess Pty Ltd acted as lead manager for the Placement with support from WH Ireland Limited in the UK.
? Funds raised to be utilised for exploration activities at the Company’s uranium projectsin the United States, as well asto progress drilling at the Kelly’s and Krona gold, nickel and lithium prospects in the Pilbara region of Western Australia, as well as for general working capital purposes.
asx announcement available.
We will see!
they definitely won't.
I think you will find Metal Tiger subscribe. I certainly would if I was them.
It will be interesting to see which companies take up the new shares; presumably, not Artemis or Metal Tiger, both of which sold recently.
Looks like the link is too long for LSE to cope with. In that case here's the link to Energy Fuels, govto the Investor page to read their latest news release. Apologies for the duff links earlier.
https://www.energyfuels.com/
https://www.energyfuels.com/2022-11-14-Energy-Fuels-Executes-Definitive-Agreement-to-Sell-Alta-Mesa-ISR-Project-to-enCore-Energy-for-120-Million,-Facilitating-the-Companys-Plans-to-Accelerate-Both-Uranium-and-Rare-Earth-Production
Sorry link didnt work, try this one. https://www.energyfuels.com/2022-11-14-Energy-Fuels-Executes-Definitive-Agreement-to-Sell-Alta-Mesa-ISR-Project-to-enCore-Energy-for-120-Million,-Facilitating-the-Companys-Plans-to-Accelerate-Both-Uranium-and-Rare-Earth-Production
Interesting news release from Energy Fuels, mentions utilising Urananium production at their White Mesa Mill.
https://www.energyfuels.com/2022-11-14-Energy-Fuels-Executes-Definitive-Agreement-to-Sell-Alta-Mesa-ISR-Project-to-enCore-Energy-for-120-Million,-Facilitating-the-Companys-Plans-to-Accelerate-Both-Uranium-and-Rare-Earth-Production
Mark McGeough investor presentation discusses Uranium exploration in the USA.
https://thormining.com/investor-updates/investor-presentation-broker-briefing-november-2022/
Need a REAL justification for this raise at this specific time given their press releases within the same 24Hr period, not in the least impressed or motivated (Will dump below the .38 you have the weekend to to impress otherwise.)
Im wondering whether to move in for a million more shares next week when they relist on the ASX
It's good to see some buys coming in. The share price has held up much better than I expected. Any good news, and we'll be back up at 0.5, no problem.
Agreed. I presume that the geiger analysis will come out first followed by the assays.
Buys are being marked as sells.
Uranium results due early December apparently