Thor Energy Regulatory News (THR)

Name of entity

THOR MINING PLC

ABN

Quarter ended ("current quarter")

121 117 673

30 September 2016

1.

Cash flows from operating activities

-

-

1.1

Receipts from customers

1.2

Payments for

(203)

(203)

(a) exploration & evaluation

(b) development

-

-

(c) production

-

-

(d) staff costs

(10)

(10)

(e) administration and corporate costs

(241)

(241)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

-

-

1.5

Interest and other costs of finance paid

-

-

1.6

Income taxes paid

-

-

1.7

Research and development refunds

-

-

1.8

Other (provide details if material)

-

-

1.9

Net cash from / (used in) operating activities

(454)

(454)

2.

Cash flows from investing activities

-

-

2.1

Payments to acquire:

(a) property, plant and equipment

(b) tenements (see item 10)

-

-

(c) investments

-

-

(d) other non-current assets

-

-

2.2

Proceeds from the disposal of:

-

-

(a) property, plant and equipment

(b) tenements (see item 10)

-

-

(c) investments

-

-

(d) other non-current assets

-

-

2.3

Cash flows from loans to other entities

-

-

2.4

Dividends received (see note 3)

-

-

2.5

Other (provide details if material)

-

-

2.6

Net cash from / (used in) investing activities

-

-

3.

Cash flows from financing activities

170

170

3.1

Proceeds from issues of shares

3.2

Proceeds from issue of convertible notes

3.3

Proceeds from exercise of share options

3.4

Transaction costs related to issues of shares, convertible notes or options

3.5

Proceeds from borrowings

30

30

3.6

Repayment of borrowings

3.7

Transaction costs related to loans and borrowings

3.8

Dividends paid

3.9

Other (provide details if material)

3.10

Net cash from / (used in) financing activities

200

200

4.

Net increase / (decrease) in cash and cash equivalents for the period

307

307

4.1

Cash and cash equivalents at beginning of period

4.2

Net cash from / (used in) operating activities (item 1.9 above)

(454)

(454)

4.3

Net cash from / (used in) investing activities (item 2.6 above)

-

-

4.4

Net cash from / (used in) financing activities (item 3.10 above)

200

200

4.5

Effect of movement in exchange rates on cash held

(18)

(18)

4.6

Cash and cash equivalents at end of period

35

35

5.

Reconciliation of cash and cash equivalentsat the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts

Current quarter$A'000

Previous quarter$A'000

5.1

Bank balances

35

307

5.2

Call deposits

5.3

Bank overdrafts

5.4

Other (provide details)

5.5

Cash and cash equivalents at end of quarter (should equal item 4.6 above)

35

307

6.

Payments to directors of the entity and their associates

Current quarter$A'000

6.1

Aggregate amount of payments to these parties included in item 1.2

18

6.2

Aggregate amount of cash flow from loans to these parties included in item 2.3

-

6.3

Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

The CEO is paid $6,000 per month in cash. The excess above this monthly amount is accumulated and paid by way of the issue of shares in lieu of salary, subject to shareholder approval at the AGM.

During the quarter, one Director advanced a loan to the Company of $30,000. This was subsequently repaid by the Company through the issue of shares on 11 October 2016.

7.

Payments to related entities of the entity and their associates

Current quarter$A'000

7.1

Aggregate amount of payments to these parties included in item 1.2

-

7.2

Aggregate amount of cash flow from loans to these parties included in item 2.3

-

7.3

Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

8.

Financing facilities availableAdd notes as necessary for an understanding of the position

Total facility amount at quarter end$A'000

Amount drawn at quarter end$A'000

8.1

Loan facilities

8.2

Credit standby arrangements

8.3

Other (please specify)

203,400

203,400

8.4

Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

Directors, and former Directors, have advanced funds to the Company on an unsecured and interest free basis.

Subsequent to the end of the quarter ended 30 September 2016, $70,000 was repaid by the Company through the issue of shares on 11 October 2016.

9.

Estimated cash outflows for next quarter

$A'000

9.1

Exploration and evaluation

(206)

9.2

Development

-

9.3

Production

-

9.4

Staff costs

(10)

9.5

Administration and corporate costs

(180)

9.6

Other (provide details if material)

-

9.7

Total estimated cash outflows

(396)

10.

Changes in tenements(items 2.1(b) and 2.2(b) above)

Tenement reference and location

Nature of interest

Interest at beginning of quarter

Interest at end of quarter

10.1

Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced

E63/1102

Tenement relinquished.

(the Company had 60% precious metals rights)

60%

-

10.2

Interests in mining tenements and petroleum tenements acquired or increased

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/

Daniel Bush/

Richard Tonthat

+44 (0) 207 383 5100

Grant Thornton UK LLP

Nominated Adviser

Gerry Beaney/

David Hignell

John Howes

+44 (0) 20 3861 6625

Northland Capital Partners Limited

Joint Broker

Nick Emerson /

Andy Thacker

+44 (0) 1483 413 500

SI Capital

Joint Broker

Tim Blythe/

Camilla Horsfall

+44 (0) 207 138 3222

Blytheweigh

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