Last checked at 6 Jul 2020 07:00
6 July 2020
THOR MINING PLC
Change of Director's Interest Notice
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) announced, as required under the listing rules of the Australian Stock Exchange ("ASX"), a Change of Director's Interest Notice relating to warrants that have lapsed.
Enquiries:
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Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred Resource estimates for the White Violet and Samarkand tungsten deposits and the Bonya copper deposit².
Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known deposits. The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.
Thor holds a 25% interest Australian copper development company EnviroCopper Limited (with rights to increase its interest to 30%). EnviroCopper Limited holds:
· rights to earn up to a 75% interest in the mineral rights and claims over the resource⁴ on the portion of the historic Kapunda copper mine in South Australia considered recoverable by way of in situ recovery; and
· rights to earn up to 75% of the Moonta copper project, also in South Australia comprising the northern portion of exploration licence EL5984 and includes a resource estimate⁵ for several deposits considered recoverable by way of in situ recovery.
Thor also holds a production royalty entitlement from the Spring Hill Gold project⁶ of:
· A$5.70 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for up to A$1,500 per ounce; and
· A$13.30 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 per ounce.
Notes
¹ Refer ASX and AIM announcement of 23 August 2018
² Refer ASX and AIM announcements of 26 November 2018 and 29 January 2020
³ Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018
⁴ Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018
⁵ Refer ASX and AIM announcement of 15 August 2019
⁶ Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016
Rule 3.19A.2
Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/09/01 Amended 01/01/11
Name of entity: Thor Mining PLC |
ARBN: 121 117 673 |
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
Name of Director | Richard Bradey |
Date of last notice | 13 June 2018
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Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
Direct or indirect interest | Direct and Indirect |
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
| Mrs Leanne Bradey (Spouse)
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Date of change | 27 June 2020 |
No. of securities held prior to change | Direct · 11,792 Ordinary Shares as CDIs
· 5,000,000 Unlisted Options, exercise price 4.5 pence, expiry 29/12/20. The options vest once the AIM traded price of Thor Shares exceeds 6 pence for 20 consecutive days.
· 3,000,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21.
Indirect · 20,000 Ordinary Shares as CDIs
· 1,500,000 Unlisted options exercisable at £0.018 expiring 27 June 2020.
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Class | Unlisted options exercisable at £0.018 expiring 27 June 2020. |
Number acquired | N/A |
Number disposed | 1,500,000 |
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
| N/A |
No. of securities held after change | Direct · 11,792 Ordinary Shares as CDIs
· 5,000,000 Unlisted Options, exercise price 4.5 pence, expiry 29/12/20. The options vest once the AIM traded price of Thor Shares exceeds 6 pence for 20 consecutive days.
· 3,000,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21.
Indirect · 20,000 Ordinary Shares as CDIs
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Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Unlisted options lapsed on the expiry date of 27 June 2020 |
Part 2 - Change of director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.
Detail of contract | |
Nature of interest
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Name of registered holder (if issued securities)
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Date of change | |
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
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Interest acquired | |
Interest disposed | |
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
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Interest after change |
Part 3 - +Closed period
Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? | No |
If so, was prior written clearance provided to allow the trade to proceed during this period? | N/A |
If prior written clearance was provided, on what date was this provided? | N/A |