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Pin to quick picksThor Energy Regulatory News (THR)

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EXERCISE OF WARRANTS

23 Nov 2017 08:13

RNS Number : 3306X
Thor Mining PLC
23 November 2017
 

23 November 2017

 

THOR MINING PLC

EXERCISE OF WARRANTS

The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to advise that it has received binding warrant exercise notices for the conversion of 18,113,051 warrants at the exercise prices shown below, resulting in aggregate gross proceeds being receivable by the Company of £216,598.

This brings the total gross proceeds from the exercise of warrants and options since the beginning of November 2017 to £966,882.

Number of warrants Exercised

Exercise price

Proceeds received

252,914

0.9 pence

₤2,276

17,860,137

1.2 pence

₤214,322

 

Settlement and dealings

Application will be made to the AIM Market of the London Stock Exchange ("AIM") for 18,113,051 Thor ordinary shares of 0.01p each ("Ordinary Shares"), pursuant to the warrant exercise, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at 8:00am on or around 29 November 2017 ("Admission").

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Thor will have 533,964,556 Ordinary Shares in issue with voting rights attached. Thor holds no shares in treasury. This figure of 533,964,556 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the DTRs.

Subject to receiving shareholder approval at the forthcoming AGM to complete the conditional placing announced on 20 October 2017, and assuming that Thor issues no further Ordinary Shares in the meantime, following the completion of the conditional placing, Thor will have 575,115,870 Ordinary Shares in issue.

Enquiries:

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

Elliot Hance

 +44 (0) 207382 8300

Beaufort Securities Limited

Joint Broker

Nick Emerson

 

+44 (0) 1483 413 500

SI Capital Ltd

Joint Broker

Tim Blythe/ Camilla Horsfall

+44 (0) 207 138 3222

Blytheweigh

Financial PR

 

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.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

About Thor Mining PLC

Thor Mining PLC 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 2015¹ suggested attractive returns. Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated Resources Estimate² on 1 of the 4 known deposits.

Thor is also acquiring up to a 60% interest Australian copper development company Environmental Copper Recovery SA Pty Ltd, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery.

Thor also holds a production royalty entitlement from the Spring Hill Gold project³ of:

· A$6 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$14 per ounce of gold⁴ 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 12 January 2015

· ² Refer AIM announcement of 22 May 2017 and ASX announcement of 23 May 2017

· ³ Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016

·  At the date of this announcement gold is trading at approximately A$1,690/oz

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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