Last checked at 3 Feb 2016 11:50
3 February 2016
THOR MINING PLC
Thor Mining PLC ("Thor" or the "Company")
SALE OF SPRING HILL GOLD PROJECT UPDATE
The Board of Thor Mining Plc ("Thor") (AIM, ASX: THR) provide the following update on the sale of its Spring Hill Gold Project to private Australian company, PC Gold Pty Ltd ("PC Gold"), for A$3.5 million, plus royalties, originally announced on 16 December 2015.
As announced at the time, the agreement with PC Gold is subject to receipt by that company of an unconditional financing offer from a precious metal private equity fund based in San Francisco, USA.
Thor has been advised that the financier and PC Gold have completed their technical due diligence, and have moved towards finalisation of formal agreements.
It is expected that settlement of the initial 60% interest in Spring Hill will take place during February.
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 |
Gerry Beaney/ David Hignell/ John Howes | +44 (0) 207 382 1100
| Northland Capital Partners Limited | 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.