REG - Thor Mining PLC - Issue of Equity - Exercise of Options

Thor EnergyAnnouncement

17/12/2021 07:55

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RNS Number : 0188W  Thor Mining PLC  17 December 2021

17 December 2021

THOR MINING PLC

EXERCISE OF OPTIONS

ISSUE OF EQUITY

The directors of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR,
OTCQB: THORF) announce the following issue of shares:

Exercise of options:

The Company has received a binding option exercise notice for the exercise of
options with an exercise price of A$0.01 per ordinary share resulting in the
issue of 3,800,000 ordinary shares of 0.01p each (the "New Ordinary Shares"),
to be issued as ASX CHESS Depositary Interests, with proceeds of A$38,000
received by the Company.

Settlement and dealings

Application has been made to the London Stock Exchange for admission of the
New Ordinary Shares to trading on AIM and dealings are expected to commence on
or around 23 December 2021 ("Admission"). The New Ordinary Shares will rank
pari passu with the Company's existing ordinary shares.

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules ("DTRs"), following Admission, Thor will have 2,003,421,411
Ordinary Shares in issue with voting rights attached. Thor holds no shares in
treasury. This figure includes the 227,200,000 Ordinary Shares to be issued on
21 December 2021, as announced to the market on 14 December 2021.  This
figure of 2,003,421,411 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.

- Ends  -

For further information on the Company, please visit www.thormining.com
(http://www.thormining.com)  or contact the following:

 Thor Mining PLC
 Nicole Galloway Warland, Managing Director               Tel: +61 (8) 7324 1935

 Ray Ridge, CFO / Company Secretary                       Tel: +61 (8) 7324 1935

 WH Ireland Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0) 207 220 1666
 Jessica Cave / Darshan Patel

 Jasper Berry (Corporate Broking)

 SI Capital Limited (Joint Broker)                        Tel: +44 (0) 1483 413 500
 Nick Emerson

 Yellow Jersey (Financial PR)                             thor@yellowjerseypr.com
 Sarah Hollins / Henry Wilkinson                          Tel: +44 (0) 20 3004 9512

 

 

 

Updates on the Company's activities are regularly posted on Thor's website
www.thormining.com (http://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; OTCQB: THORF) is a diversified resource
company quoted on the AIM Market of the London Stock Exchange, ASX in
Australia and OTCQB Market in the United States.

The Company is advancing its diversified portfolio of precious, base, energy
and strategic metal projects across USA and Australia. Its focus is on
progressing its copper, gold, uranium and vanadium projects, while seeking
investment/JV opportunities to develop its tungsten assets.

Thor owns 100% of the Ragged Range Project, comprising 92 km(2) of exploration
licences with highly encouraging early stage gold and nickel results in the
Pilbara region of Western Australia, for which drilling is planned in the
first half of 2021.

At Alford East in South Australia, Thor is earning an 80% interest in copper
deposits considered amenable to extraction via Insitu Recovery techniques
(ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate
of 177,000 tonnes contained copper & 71,000 oz gold¹.

Thor also holds a 30% interest in Australian copper development company
EnviroCopper Limited, which in turn holds rights to earn up to a 75% interest
in the mineral rights and claims over the resource on the portion of the
historic Kapunda copper mine and the Alford West copper project, both situated
in South Australia and both considered amenable to recovery by way of ISR.²³

Thor holds 100% interest in two private companies with mineral claims in the
US states of Colorado and Utah with historical high-grade uranium and vanadium
drilling and production results.

Thor holds 100% of the advanced Molyhil tungsten project, including indicated
and inferred resources⁴, in the Northern Territory of Australia, which was
awarded Major Project Status by the Northern Territory government in July
2020.

Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of
tungsten, copper, and vanadium, including Inferred resource estimates for the
Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.⁵

Notes

(1) www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf)
 

(2
)www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf)
 

³
www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(http://www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf)

 (4)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20191011-molyhil-mineral-resource-estimate-enhanced.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20191011-molyhil-mineral-resource-estimate-enhanced.pdf)
 

(5
)www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf)
 

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