Last checked at 23 Jul 2014 09:11
23 July 2014
Thor Mining PLC ("Thor" or the "Company")
Sale of Shares in Ram Resources (ASX: RMR)
As announced on 20th May 2014, Thor Mining PLC ("Thor") (AIM, ASX: THR) has sold its 60% interest in the base metal rights at the Dundas project in Western Australia (with Thor retaining its 60% interest in gold and associated metals). Consideration for the disposal included A$70,000 payable to Thor in ordinary fully paid shares in RMR.
The Directors of Thor advise that 6,363,636 ordinary fully paid shares in RMR were subsequently issued to Thor at a value of A$0.011 per share, and Thor has since sold these shares for A$102,107 (being an average price of A$0.016 per share).
The proceeds of A$102,107 will be used primarily to finalise an upgraded Definitive Feasibility Study at Thor's Molyhil tungsten project in Australia's Northern Territory.
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/ David Hignell/ Jamie Barklem | +44 (0) 207 383 5100
| Grant Thornton UK LLP
| Nominated Adviser |
Andrew Monk/ Bhavesh Patel | +44 (0) 20 3005 5000 | VSA Capital Ltd
| Broker |
Alex Walters | +44 (0) 7771 713608 +44 (0) 207 839 9260
| Cadogan PR | FinancialPR |
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.