Thor Mining PLC - exploration and development company - Raises gross proceeds of GBP750,000 via the placing of 88.2 million shares at a price of 0.85 pence per share. Placing Price represents a discount of 5.6% to the closing price on Friday. Thor Mining says each placee to receive, one warrant for each two placing shares, to subscribe for a further new share at 1.6 pence, valid for two years from the date of issue. Funds raised to be utilised for exploration activities at the Ragged Range, gold & nickel project in the Pilbara Western Australia, copper evaluation at Alford East in South Australia, initial drilling of the uranium and vanadium projects in the US, and general working capital.
Current stock price: 1.00p, up 9.7% on Tuesday
Year-to-date change: up 28%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Thor Energy (THR)