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Thor Mining completes sale of Australian gold project

Fri, 17th Feb 2017 10:59

(ShareCast News) - Thor Mining has completed the sale of its Australian gold project to miner PC Gold in order to start drill programmes at other projects.The AIM-listed company has completed the sale of the Spring Hill gold project with a final settlement of AU$1.5m.Last February, Thor said it would sell Spring Hill for AU$3.5m, of which the AU$1.5m was for the remaining 40% stake in the project.The deal also includes royalties of AU$6 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for up to AU$1,500 per ounce, and AU$14 per ounce of gold produced where the gold produced is sold for over AU$1,500 per ounce.Executive chairman Mick Billing said the AU$1.5m received will allow the company to accelerate its exploration programmes starting with the Pilot Mountain drilling program, due to start in the next two weeks, and the new drilling programme planned at the Dundas gold project in the first half of 2017.He also said that the strengthened balance sheet will also provide Thor with greater financing flexibility as its assesses new project opportunities.Billing added: "Based on work carried out to date, we believe that PC Gold plans to advance the Spring Hill gold project into production in the medium term, an outcome which would generate a potentially substantial royalty stream for Thor."Shares in Thor Mining were down 0.86% to 0.694p at 1046 GMT.
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Thor Energy PLCGM re proposed share consolidation
  
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4 Aug 2023 11:25

IN BRIEF: Thor Energy proposes share consolidation to reduce shares

Thor Energy PLC - uranium and vanadium explorer - Calls general meeting on August 23 to seek shareholder approval for a new share consolidation of one share for every 10 existing shares; to issue and allot shares to Spencer Metals Pty Ltd following its acquisition of a 29% interest in a portion of exploration licenses; and an issue of performance shares to directors. Thor Energy says it has a large number of shares on issue, at a disproportionate number relative to its peers.

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4 Aug 2023 10:41

AIM WINNERS & LOSERS: Ilika up as inks 10-year manufacturing licence

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1 Aug 2023 19:45

TRADING UPDATES: Spectral does not expect delay to Rosecliff deal

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27 Jul 2023 18:22

TRADING UPDATES: Pod Point cuts outlook; CVS Group buys in Australia

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31 May 2023 14:19

IN BRIEF: Thor Energy initiates surveys to identify mineralisation

Thor Energy PLC - London-based uranium and vanadium explorer - Says airborne magnetic, radiometric surveys begin in its wholly owned uranium and vanadium projects within the Uravan mineral belt in Colorado and Utah, US. The surveys are at Wedding Bell, Radium Mountain and Vanadium King, and are being carried out to identify potential extensions of mineralisation. Expects work to continue for the next six weeks.

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26 Apr 2023 19:33

TRADING UPDATES: Thor Energy reports significant drill intercepts

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26 Apr 2023 13:14

Thor Energy reports positive results from Alford East review

(Sharecast News) - Thor Energy announced new rare earth element (REE) drill results from a review of the previously-announced 2021 copper and gold drilling at the Alford East Project in South Australia on Tuesday.

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24 Apr 2023 10:45

Thor Energy confirms vanadium mineralisation at Colorado projects

(Alliance News) - Thor Energy PLC said on Monday assays from its Wedding Bell and Radium Mountain uranium and vanadium projects validate downhole gamma readings for uranium and confirm broader vanadium mineralisation.

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24 Apr 2023 09:50

AIM WINNERS & LOSERS: Karelian rises as exploration programmes begin

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17 Apr 2023 19:43

TRADING UPDATES: BATM reports Edgility progress, Rambler starts sale

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17 Apr 2023 11:14

Thor Energy upbeat on EnviroCopper survey results

(Sharecast News) - Thor Energy announced on Monday that its 30%-owned subsidiary EnviroCopper (ECL) has completed an ambient noise tomography (ANT) survey at the Alford West Project in South Australia, with successful results.

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14 Mar 2023 17:39

EARNINGS SUMMARY: Eagle Eye profit up; Litigation Capital optimistic

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2 Mar 2023 17:26

Thor Energy says advanced survey technique in use at Alford West

(Alliance News) - Thor Energy PLC on Thursday said its 30% owned portfolio company EnviroCopper Ltd has commenced an advanced geophysical survey technique at the Alford West project in South Australia.

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2 Mar 2023 13:22

Thor subsidiary starts using innovative geophysical technique

(Sharecast News) - Thor Energy announced on Thursday that its 30%-owned subsidiary EnviroCopper had begun working on an innovative geophysical technique at the Alford West Project in South Australia.

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