REG - Thor Mining PLC - Annual Results for the year ended 30 June 2016 <Origin Href="QuoteRef">THRL.L</Origin> - Part 3
26/09/2016 12:40
- Part 3: For the preceding part double click ID:nRSZ8336Kb
-
Receivable for business disposal (refer Note 22) 832 832
Lanstead LLC - 2 - 2
Prepayments 20 37 19 11
894 44 893 13
12. Current trade and other payables
Trade payables (342) (342) (88) (79)
Other payables (161) (116) (8) (9)
(503) (458) (96) (88)
13. Interest bearing liabilities
Consolidated Company
2016 2015 2016 2015
£'000 £'000 £'000 £'000
Loan
Current - (489) - (489)
- (489) - (489)
The subsidiary companies, Molyhil Mining Pty Ltd and T M Gold Pty Ltd had each granted a mortgage over certain tenements,
generally comprising that company's project at Molyhil and Spring Hill respectively on which it holds mineral licences or
exploration licenses. During the year ended 30 June 2016, the proceeds from the sale of TM Gold Pty Ltd (holding the
Spring Hill tenements) were used to repay the loan in February 2016, and the mortgages were discharged.
14. Non interest bearing liabilities
Consolidated Company
2016 2015 2016 2015
£'000 £'000 £'000 £'000
Current
Director advances1 (96) (74) - -
Novated loan2 - (159) - -
(96) (233) - -
1 The Directors advanced funds on a no security, no interest basis to meet short term funding requirements of the Group.
The loans at 30 June 2015 were repaid during the year ended 30 June 2016. Subsequently, during the year ended 30 June
2016, the Directors again advanced funds to the Group. Certain Directors have undertaken to receive repayment of A$150,000
(£83,235) through the issue of the Company's securities, subject to shareholder approval (refer Note 23).
2 As part of the acquisition of the Pilot Mountain Tungsten Project in November 2014, borrowings of A$625,000 were novated
to the acquired company, Black Fire Industrial Minerals Pty Ltd, prior to the acquisition by Thor. Post acquisition,
during the year ended 30 June 2015, A$300,000 of the borrowings were settled through the issue of Shares in Thor, leaving
borrowings of A$325,000 (£159,000) at 30 June 2015 which were secured over the assets of Black Fire Industrial Minerals Pty
Ltd. During the year ended 30 June 2016, these borrowings were fully repaid and the security discharged.
15. Issued share capital
2016 2015
£'000 £'000
Issued up and fully paid:
982,870,766 deferred shares of £0.0029 each 2,850 2,850
5,736,387,510 ordinary shares of £0.0001 each 573 322
(2015: 982,870,766 deferred shares of £0.0029 each3,228,091,211 ordinary shares of £0.0001 each)
3,423 3,172
Movement in share capital
2016 2015
Ordinary shares of £0.0001 Number £'000 Number £'000
At 1 July 3,228,091,211 3,172 1,703,669,855 3,020
Share issue in lieu of expenses 356,898,014 36 94,641,608 9
Share issued for cash 2,075,000,000 207 844,444,444 84
Shares issued for acquisition (refer Note 21) 76,398,285 8 418,750,000 42
Shares issued to extinguish debt (refer Note 21) - - 166,129,526 17
Exercise of warrants - - 455,778 -
At 30 June 5,736,387,510 3,423 3,228,091,211 3,172
Nominal Value
The nominal value of shares in the company was originally 0.3 pence. At a shareholders meeting in September 2013, the
Company's shareholders approved a re-organisation of the company's shares which resulted in the creation of two classes of
shares, being:
· Ordinary shares with a nominal value of 0.01 pence, which will continue as the company's listed securities.
· Deferred shares with a value of 0.29 pence which, subject to the provisions of the Companies Act 2006, may be
cancelled by the company, or bought back for £1 and then cancelled. These deferred shares are not quoted and carry no
rights whatsoever.
Warrants and Options on issue
The following warrants (in UK) and options (in Australia) have been issued by the Company and have not been exercised as at
30 June 2016:
Number Grant Date Expiry Date Exercise Price
26,763,9871 22 Sep 2014 22 Sep 2016 GBP£0.001
87,500,0004 22 Jun 2015 28 Jul 2016 GBP£0.00075
437,500,0005 27 Jul 2015 28 Jul 2016 GBP£0.00075
336,000,0002 1 Jun 2016 1 Dec 2018 GBP£0.0005
864,000,0003 24 Jun 2016 1 Dec 2018 GBP£0.0005
1,751,763,987 total outstanding
Share options (termed warrants in the UK) carry no rights to dividends and no voting rights.
1 issued to sophisticated investors as part of a capital raising in September 2014.
2 issued to sophisticated investors as part of a capital raising in June 2016.
3 issued to sophisticated investors as part of a capital raising in June 2016, following shareholder approval.
4 issued to sophisticated investors as part of a capital raising in June 2015.
5 issued to sophisticated investors as part of a capital raising in July 2015, following shareholder approval.
16. Share based payments reserve
2016 2015
£'000 £'000
At 1 July 30 44
Lapse of 600,000 Employees options @ £0.00803 (5) -
Lapse of Debt Facility options @ £0.00018 (16) -
Lapse of 4,000,000 Employees options @ £0.02 - (23)
Valuation of 26,763,989 warrants @ £0.00035 - 9
At 30 June 9 30
Options are valued at an estimate of the cost of the services provided. Where the fair value of the services provided
cannot be estimated, the value of the options granted is calculated using the Black-Scholes model taking into account the
terms and conditions upon which the options are granted. The following table lists the inputs to the model used for the
share options remaining in the Share Based Payments Reserve at the year ended 30 June 2016.
Issued September2014
Dividend yield 0.00%
Underlying Security spot price £0.00115
Exercise price £0.001
Standard deviation of returns 40%
Risk free rate 3.05%
Expiration period 2yrs
Black Scholes valuation per option A$0.00065
Black Scholes valuation per option £0.00035
17. Analysis of changes in net cash and cash equivalents
1 July 2015 Cash flows Non-cash changes 30 June 2016
£'000 £'000 £'000 £'000
Cash at bank and in hand - Group 43 128 (1) 170
18. Contingent liabilities and commitments
a) Exploration commitments
Ongoing exploration expenditure is required to maintain title to the Group mineral exploration permits. No provision has
been made in the financial statements for these amounts as the expenditure is expected to be fulfilled in the normal course
of the operations of the Group.
b) Claims of native title
The Directors are aware of native title claims which cover certain tenements in the Northern Territory. The Group's policy
is to operate in a mode that takes into account the interests of all stakeholders including traditional owners'
requirements and environmental requirements. At the present date no claims for native title have seriously affected
exploration by the Company.
c) Contingent Liability
Under the terms of a debt facility agreement entered into, the Company had jointly guaranteed the performance of its
subsidiary companies, Molyhil Mining Pty Ltd, and T M Gold Pty Ltd in terms of those companies' obligations to the lender.
During the year ended 30 June 2016, the proceeds from the sale of TM Gold Pty Ltd (holding the Spring Hill tenements) were
used to repay the debt facility in February 2016, and the guarantee was discharged.
19. Financial instruments
The Group uses financial instruments comprising cash, liquid resources and debtors/creditors that arise from its
operations.
The Group's exposure to currency and liquidity risk is not considered significant. The Group's cash balances are held in
Pounds Sterling and in Australian Dollars, the latter being the currency in which the significant operating expenses are
incurred.
To date the Group has relied upon equity funding to finance operations. The Directors are confident that they will be able
to raise additional equity capital to finance operations to commercial exploitation but controls over expenditure are
carefully managed.
The net fair value of financial assets and liabilities approximates the carrying values disclosed in the financial
statements. The currency and interest rate profile of the Group's financial assets is as follows:
2016 2015
£'000 £'000
Sterling 169 4
Australian Dollars 1 39
170 43
The financial assets comprise interest earning bank deposits and a bank operating account.
Set out below is a comparison by category of carrying amounts and fair values of all of the Group's financial instruments
recognised in the financial statements, including those classified under discontinued operations. The fair value of cash
and cash equivalents, trade receivables and payables approximate to book value due to their short-term maturity.
The fair values of derivatives and borrowings have been calculated by discounting the expected future cash flows at
prevailing interest rates. The fair values of loan notes and other financial assets have been calculated using market
interest rates.
2016 2015
Carrying Amount £'000 Fair Value £'000 Carrying Amount £'000 Fair Value £'000
Financial assets:
Cash and cash equivalents 170 170 43 43
Trade & other receivables 874 874 44 44
Deposits supporting performance guarantees 11 11 13 13
Financial liabilities:
Trade and other payables 503 503 458 458
Non interest bearing liabilities 96 96 233 233
Interest bearing liabilities - - 489 489
In February 2014, the Company entered into a share subscription agreement and an equity swap agreement, with Lanstead
Capital LP ("Lanstead"). These agreements expired in January 2016.
During the year ended 30 June 2016, the proceeds from the sale of TM Gold Pty Ltd (refer Note 22) were used to repay the
'Non interest bearing liabilities' in February 2016.
The following table sets out the carrying amount, by maturity, of the financial instruments exposed to interest rate risk:
Effective Interest Rate % Maturing Total
30-June 2016 - Group < 1 year >1 to <2 Years >2 to <5 Years
£'000 £'000 £'000 £'000
Financial Assets
Fixed rate
At call Account - AUD 0% 169 - - 169
At call Account - STG 0.05% 1 - - 1
170 - - 170
Financial Liabilities
Fixed Rate
Interest bearing liabilities - - - - -
30-June 2015 - Group
Financial Assets
Fixed rate
At call Account - AUD 0% 39 - - 39
At call Account - STG 0.05% 4 - - 4
43 - - 43
Financial Liabilities
Fixed Rate
Interest bearing liabilities 7.0% 489 - - 489
20. Related parties
There is no ultimate controlling party.
Thor has lent funds to its wholly owned subsidiaries to enable those companies to carry out their operations. At 30 June
2016 the estimated recoupable amount converted to £7,886,000 (refer Note 8(b)).
Thor Mining PLC engages the services of Ronaldsons LLP Solicitors, a company in which Mr Stephen Ronaldson is a Partner. Mr
Ronaldson is the UK based Company Secretary. During the year £15,317 (2015 £32,000) was paid to Ronaldsons LLP Solicitors
on normal commercial terms.
21. Business Combination
In the prior financial year, on 27 October 2014, Thor Mining PLC acquired 100% of the issued shares in Black Fire
Industrial Minerals Pty Ltd, an exploration company, for consideration of £687,797. The acquired company controls Mining
Claims situated in south-western Nevada, referred to as the Pilot Mountain project.
Purchase consideration of £687,797 consisted of 418,750,000 Ordinary Shares in Thor. The fair value of the shares issued
was determined by reference to the closing price of Thor Shares on the ASX at the date of acquisition of A$0.003, and
converted at the AUD/GBP exchange rate on that date.
The assets and liabilities recognised, in the prior financial year, as a result of the acquisition were as follows:
£'000
Intangible assets - Deferred Exploration Costs (1) 1,038
Prepayments 37
Trade & other Payables (45)
Non-interest bearing liabilities (2) (342)
Net identifiable assets acquired 688
(1) The book value of the Deferred Exploration costs in the acquired company, Black Fire Industrial Minerals Pty Ltd, was
£1,262,000. A conservative position was taken in the accounting for the acquisition, by writing down the deferred
exploration costs by £224,000 to reflect fair value at acquisition, rather than recognising a gain on bargain purchase.
(2) Borrowings of A$625,000 were novated to the acquired company, Black Fire Industrial Minerals Pty Ltd, prior to the
acquisition by Thor. Prior to 30 June 2015, A$300,000 of these borrowing had been settled through the issue of shares in
Thor. The remaining borrowings of A$325,000 (£159,000) at 30 June 2015 were secured over the assets of Black Fire
Industrial Minerals Pty Ltd. During the year ended 30 June 2016, these remaining borrowings were repaid in full and the
security discharged.
Acquisition-related costs of £77,000 are included in Corporate expenses in the Consolidated Statement of Comprehensive
Income in the prior year, ending 30 June 2015.
22. Business Disposal
TM Gold Pty Ltd ("TM Gold") was a 100% owned subsidiary of Thor, with activities in the state of Western Australia (Dundas
tenements) and the Northern Territory of Australia (Spring Hill tenements). On the 26 February 2016, the Group completed a
share purchase and subscription agreement to dispose of the Spring Hill tenements, through the disposal of 100% of Thor's
shareholding in TM Gold to PC Gold Pty Ltd ("PC Gold"). Prior to completion of the sale, the Dundas tenements were
transferred to another 100% owned subsidiary of Thor, Hale Energy Limited at book value. The share purchase and
subscription agreement was then enacted, with PC Gold subscribing for new ordinary shares equating to a 60% shareholding of
the issued shares in TM Gold for A$2.0m (£1.11m) cash. The Group and PC Gold are legally committed to the transfer of the
remaining 40% shareholding held by Thor no later than February 2017, in exchange for the remaining instalment of A$1.5m
(£0.832m). As a result, TM Gold is no longer a part of the consolidated group from 26 February 2016. The A$1.5m
instalment is included in the Group's receivables (refer Note 11).
The consideration payable to Thor also includes a royalty of:
• A$6.00 per ounce of gold produced from the Spring Hill tenements where the gold is sold for up to A$1,500 per ounce;
and
• A$14 per ounce of gold produced from the Spring Hill tenements where the gold so produced is sold for amounts over
A$1,500 per ounce.
Given the inherent uncertainties in determining the likely amount of the potential future royalties, the Directors have
elected to not to ascribe a value to the royalty at this point.
The Income Statement impact of this transaction for the Consolidated Group is as follows:
£'000
Deferred exploration asset for Spring Hill at sale completion (1) 1,942
Sale proceeds received (1,110)
Remaining proceeds receivable (refer Note 11) (832)
Nil Profit / (Loss) on disposal -
(1) As at 31 December 2015, the Group had executed an option agreement for the sale of Spring Hill. That agreement
provided a third party with the option to acquire the Spring Hill tenements though the acquisition of 100% of TM Gold Pty
Ltd for total consideration of A$3.5m and production royalties. Based on this, the Directors revalued the carrying value of
the Spring Hill tenement downwards by £719,000 to its realisable value.
The Income Statement impact of this transaction for the Company is as follows:
£'000
Loan balance owing by TM Gold at sale completion 4,159
Less existing impairment provision against the loan (1,675)
Net loan balance at sale completion 2,484
Loan repaid from share subscription received (1,110)
Loan offset by remaining proceeds receivable (refer Note 11) (832)
Realised loss on financial asset 542
23. Post balance sheet events
On 26 July 2016, the Company announced the appointment of Mr Gervaise Heddle as a Non-Executive Director to the Board.
On 29 July 2016, the Company announced the lapse of 525,000,000 unlisted options with an exercise price of 0.075p per
share.
On 2 September 2016 the Company announced a planned raising of £350,000 before expenses, through the placing of
1,400,000,000 Ordinary Shares of 0.01p each at a price of 0.025p each (the "Placing"). In addition, certain Thor directors
have undertaken, subject to the approval of shareholders, to convert A$150,000 (£83,235) of amounts owed to them into
346,000,000 Ordinary Shares at a price of 0.025p each (the "Debt Conversion"). Under the Placing and Debt Conversion,
subscribers for the Ordinary Shares will also be granted one free attaching Warrant for every share subscribed for, to
enable them to subscribe for further Ordinary Shares at a price of 0.05p per share, valid for a period of 30 months
("Warrants") from the date of issue.
The first tranche of the Placing, being 400,000,000 Ordinary shares and 400,000,000 Warrants were issued on 5 September
2016, utilising the existing authorities conferred by shareholders and available capacity under ASX Listing Rule 7.1. The
second tranche of 1,000,000,000 Ordinary shares and 1,000,000,000 Warrants remain subject to shareholder approval. A
Shareholders Meeting is scheduled for 6 October 2016.
On 2 September 2016, the Company announced the appointment of Mr Paul Johnson as a Non-Executive Director to the Board.
Subject to the above matters, there were no material events arising subsequent to 30 June 2016 to the date of this report
which may significantly affect the operations of the Company, the results of those operations and the state of affairs of
the Company in the future.
ASX Additional Information
Additional information required by the Australian Stock Exchange Limited Listing Rules and not disclosed elsewhere in this
report is set out below.
Date and Place of Incorporation, and Application of Takeover Provisions
a) The company was incorporated in England on 3 November 2004 as Thor Mining Ltd and was re-registered as a public
company, with the name Thor Mining Plc, on 6 June 2005.
b) The company is not subject to Chapters 6, 6A, 6B and 6C of the Australian Corporations Act dealing with the
acquisition of shares (including substantial shareholdings and takeovers).
c) As a public company incorporated in England and Wales, Thor Mining Plc is subject to the City Code on Takeovers and
Mergers (the Code). Subject to certain exceptions and limitations, a mandatory offer is required to be made under Rule 9 of
the Code broadly where:
(i) a bidder and any persons acting in concert with it acquire shares carrying 30% or more of the voting rights of a
target company; or
(ii) if a bidder, together with any concert parties, increases its holding where its holding is not less than 30% but not
more than 50% of the voting rights.
Rule 9 requires a mandatory offer to be made in cash and at the highest price paid by the bidder (or any persons acting in
concert with it) for any interest in shares of the relevant class during the 12 months prior to the announcement of the
offer.
In addition, save in certain specified circumstances, rule 5 of the code imposes restrictions on acquisitions which
increase a person's total number of voting rights in Thor Mining Plc (when aggregated with those of his concert parties) to
30% or more of the total voting rights of the company or if he, together with his concert parties, having an interest in
30% or more of such voting rights, acquires more voting rights up to (and including) a total of 50%.
Where a bidder obtains acceptances of at least 90% of the shares subject to a takeover offer (which excludes any shares
held by it or its concert parties) and acceptances of at least 90% of the voting rights carried by the shares subject to
the offer, it can require the remaining shareholders who have not accepted the offer to sell their shares on the terms of
the offer.
Shareholdings (as at 9 September 2016)
Class of shares and voting rights
(a) at meetings of members or classes of members each member entitled to vote may vote in person or by proxy or
attorney; and
(b) on a show of hands every person present who is a member has one vote, and on a poll every person present in person
or by proxy or attorney has one vote for each Ordinary Share held.
On-market buy-back
There is no current on-market buy-back.
Distribution of listed equity securities
Category (number of shares/warrants) Number of Shareholders
1 - 1,000 716
1,001 - 5,000 418
5,001 - 10,000 301
10,001 - 100,000 1,168
100,001 and over 965
3,568
The number of Australian shareholders holding less than a marketable parcel is 2,869.
The minimum parcel size is 500,000 shares.
Twenty largest shareholders as at 9 September 2016
Name Number of shares held Percentage of shares held
HARGREAVE HALE NOMINEES LIMITED LON 432,045,000 7.04%
BEAUFORT NOMINEES LIMITED SSLNOMS 422,378,289 6.88%
BARCLAYSHARE NOMINEES LIMITED 421,373,651 6.87%
MR MICHAEL BILLING 304,311,378 4.96%
SPREADEX LIMITED 270,619,145 4.41%
HARGREAVES LANSDOWN (NOMINEES) LIMITED HLNOM 225,851,682 3.68%
TD DIRECT INVESTING NOMINEES (EUROPE) LIMITED SMKTNOMS 220,234,176 3.59%
HSDL NOMINEES LIMITED 219,066,200 3.57%
DUNHAM INVESTMENTS PTY LTD 200,448,285 3.27%
JIM NOMINEES LIMITED JARVIS 189,616,680 3.09%
HSBC CLIENT HOLDINGS NOMINEE (UK) LIMITED 731504 181,135,981 2.95%
HARGREAVES LANSDOWN (NOMINEES) LIMITED VRA 151,295,601 2.47%
HARGREAVES LANSDOWN (NOMINEES) LIMITED 15942 133,145,789 2.17%
PEEL HUNT HOLDINGS LIMITED PMPRINC 113,441,633 1.85%
WINTERFLOOD SECURITIES LIMITED WINSCREP 88,444,516 1.44%
INVESTOR NOMINEES LIMITED NOMINEE 84,594,551 1.38%
MR DAVID & MRS BARBARA THOMAS 75,660,470 1.23%
WEALTH NOMINEES LIMITED WRAP 75,303,028 1.23%
SHARE NOMINEES LTD 74,960,456 1.22%
INVESTOR NOMINEES LIMITED WRAP 74,785,203 1.22%
TOTAL 3,958,711,714 64.51%
Unlisted Option and Warrant holders as at 9 September 2016
Name Expiry Date Number of Warrants held Percentage of warrants held
VSA Capital 22/09/2016 26,763,987 1.65%
Placees June 2016 01/12/2018 1,200,000,000 73.76%
Metal Tiger PLC 05/03/2019 400,000,000 24.59%
Total unlisted options/warrants 1,626,763,987 100.00%
Securities held on Escrow
Total shares and CDIs on issue of 6,136,387,510 include 356,898,014 CDI's held on voluntary escrow until 29 October 2016.
Stock Exchanges
Thor Mining PLC shares are dual listed on the AIM market and the Australian Stock Exchange. On the ASX they are traded as
CDIs.
ASX CORPORATE GOVERNANCE DISCLOSURE
The Board is committed to maintaining high standards of corporate governance. The Board has given consideration to the code
provisions set out in the UK Corporate Governance Code (the "UK Code") issued by the Financial Conduct Authority and in
accordance with the AIM Rules. Whilst the Company is not required to comply with the UK Code, the Company's corporate
governance procedures take due regard of the principles of Good Governance set out in the UK Code in relation to the size
and the stage of development of the Company. The Board has also given consideration to the ASX Corporate Governance
Principles and Recommendations (ASX Corporate Governance Council, 3rd Edition).
A copy of the Company's corporate governance policy is available on the Company's website
http://www.thormining.com/aboutus#governance.
Skills, experience, expertise and term of office of each Director
A profile of each Director containing the applicable information is set out on the Company's website and elsewhere within
this document.
Identification of Independent Directors
Mr G Heddle and Mr D Thomas are independent in accordance with the criteria set out in the ASX Principles and
Recommendations.
Statement concerning availability of independent professional advice
Subject to the approval of the chairman, an individual Director may engage an outside adviser at the expense of Thor Mining
Plc for the purposes of seeking independent advice in appropriate circumstances.
Names of nomination committee members and their attendance at committee meetings
Whilst the Company does not have a formal nomination committee, it does formally consider Board succession issues and
whether the Board has the appropriate balance of skills, knowledge, experience, independence and diversity. .
Names and qualifications of audit committee members
The full Board performs the functions of the Audit Committee. Messrs Billing, Heddle and Johnson are financially literate.
The Board last undertook an evaluation of its performance on 30 July 2015.
TENEMENT SCHEDULE
At 30 June 2016, the consolidated entity holds an interest in the following Australian tenements:
Project Tenement Area kms2 Area ha. Holders Company Interest
Molyhil EL22349 228.10 Molyhil Mining Pty Ltd 100%
Molyhil EL28948 16.50 Molyhil Mining Pty Ltd 100%
Molyhil EL311130 60.23 Molyhil Mining Pty Ltd 100%
Molyhil ML23825 95.92 Molyhil Mining Pty Ltd 100%
Molyhil ML24429 91.12 Molyhil Mining Pty Ltd 100%
Molyhil ML25721 56.2 Molyhil Mining Pty Ltd 100%
Molyhil AA29732 38.6 Molyhil Mining Pty Ltd 100%
Molyhil MLS77 16.18 Molyhil Mining Pty Ltd 100%
Molyhil MLS78 16.18 Molyhil Mining Pty Ltd 100%
Molyhil MLS79 8.09 Molyhil Mining Pty Ltd 100%
Molyhil MLS80 16.18 Molyhil Mining Pty Ltd 100%
Molyhil MLS81 16.18 Molyhil Mining Pty Ltd 100%
Molyhil MLS82 8.09 Molyhil Mining Pty Ltd 100%
Molyhil MLS83 16.18 Molyhil Mining Pty Ltd 100%
Molyhil MLS84 16.18 Molyhil Mining Pty Ltd 100%
Molyhil MLS85 16.18 Molyhil Mining Pty Ltd 100%
Molyhil MLS86 8.05 Molyhil Mining Pty Ltd 100%
Dundas EL63/872 62.40 Hale Energy Limited 60%
At 30 June 2016, the consolidated entity holds an interest in the following tenements in the US State of Nevada:
Claim Group Prospect Claim Number Area Holders Company Interest
Platoro Desert Scheelite NT #55 - 64 45blocks (611ha or 1,510 acres) 100%
Garnet NT #9 - 18 Pilot Metals Inc
Gunmetal NT #19 - 22, 6, 7
Good Hope NT #1 - 5, 41 - 54
BFM 1 Black Fire Claims BFM1 - BFM109 109blocks (1,481ha or 3,660 acres) BFM Resources Inc 100%
BFM 2 Des Scheel East BFM109 - BFM131 22blocks (299ha or 739Acre) BFM Resources Inc 100%
This information is provided by RNS
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