Thor Mining Nets AUD103,000 From Hawkstone Mining Stake Sale

(Alliance News) - Thor Mining PLC on Monday said it has netted just over AUD103,000, around GBP53,000, from the disposal of the company's 1.9% interest in Sydney-listed lithium exploration company Hawkstone Mining Ltd.

The Hawkstone Mining stake sale was conducted over a period between November 2019 and early February 2020, the tungsten and molybdenum explorer noted.

Thor also said it is likely to receive offers for its royalty entitlement in respect of the Spring Hill gold project in Australia during the first quarter of 2020.

London-registered Thor sold the Spring Hill project for AUD3.5 million in February 2017, but retained a royalty on future gold production from the project.

The terms of the royalty agreement entitled Thor to receive AUD14 per ounce if the gold price was above AUD1,500 per ounce and AUD6 per ounce if the price was below AUD1,500.

Thor Mining shares in London were up 14% at 0.33 pence each on Monday afternoon.

By Tapan Panchal; tapanpanchal@alliancenews.com

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