REG - Thor Mining PLC - Notice of AGM <Origin Href="QuoteRef">THRL.L</Origin> - Part 3

Thor EnergyAnnouncement

29/10/2014 09:21

- Part 3: For the preceding part double click  ID:nRSF5129Tb 

                                         
 Summary of terms:                                                                          Fully paid ordinary shares listed on AIM and ranking equally with all other shares on issue.                                                                                                                                                                                                                                                                                                                                            
 Names of persons who received securities or basis on which those persons were determined:  Shares issued to clients of UK based broker, VSA Capital Limited, pursuant to placement.                                                                                                                                                                                                                                                                                                                                                
 Price:                                                                                     £0.001                                                                                                                                                                                                                                                                                                                                                                                                                                  
 Discount to market price (if any):                                                         5% discount to the AIM closing price at 8 July 2014 of £0.00105                                                                                                                                                                                                                                                                                                                                                                         
 For cash issues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 Total cash consideration received:                                                         £204,967                                                                                                                                                                                                                                                                                                                                                                                                                                
 Amount of cash consideration spent:                                                        £204,967                                                                                                                                                                                                                                                                                                                                                                                                                                
 Use of Cash consideration:                                                                 To fund Thor's working capital requirements, focussing on the finalisation of an updated Defined Feasibility Study of its advanced Molyhil tungsten project in Australia's Northern Territory.                                                                                                                                                                                                                                          
 Intended use for the remaining amount of cash (if any):                                    N/A                                                                                                                                                                                                                                                                                                                                                                                                                                     
 For non-cash issues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
 Non-cash consideration paid:                                                               £40,967                                                                                                                                                                                                                                                                                                                                                                                                                                 
 Current value of that non-cash consideration:                                              £68,050 based on the closing price of CDIs on ASX at 15 September 2014, converted to GBP at the exchange rate applicable on 15 September 2014.                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 Date of issue:                                                                             31 July 2014                                                                                                                                                                                                                                                                                                                                                                                                                            
 Number issued:                                                                             (a) 204,199,528(b) 150,000,000                                                                                                                                                                                                                                                                                                                                                                                                          
 Class/Type of equity issued:                                                               Shares                                                                                                                                                                                                                                                                                                                                                                                                                                  
 Summary of terms:                                                                          Fully paid ordinary shares listed on AIM and ranking equally with all other shares on issue.                                                                                                                                                                                                                                                                                                                                            
 Names of persons who received securities or basis on which those persons were determined:  Shares issued to:(a) clients of UK based broker, VSA Capital Limited, pursuant to placement.(b) Lanstead Capital LP.                                                                                                                                                                                                                                                                                                                    
 Price:                                                                                     (a) £0.001(b) £0.001                                                                                                                                                                                                                                                                                                                                                                                                                    
 Discount to market price (if any):                                                         (a) 9% discount to the AIM closing price at 31 July 2014 of £0.0011.(b) 9% discount to the AIM closing price at 31 July 2014 of £0.0011.                                                                                                                                                                                                                                                                                                
 For cash issues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 Total cash consideration received:                                                         (a) £170,167(b) £150,000                                                                                                                                                                                                                                                                                                                                                                                                                
 Amount of cash consideration spent:                                                        (a) £110,000(b) £150,000                                                                                                                                                                                                                                                                                                                                                                                                                
 Use of Cash consideration:                                                                 (a) Working capital requirements, focussing on the development of its advanced Molyhil tungsten project in Australia's Northern Territory. (b) £22,500 has been used To fund Thor's working capital requirements, focussing on the development of its advanced Molyhil tungsten project in Australia's Northern Territory.£127,500 was invested by the company in credit support for the equity swap and will be returned to the Company 
                                                                                            in instalments over 9 months.                                                                                                                                                                                                                                                                                                                                                                                                           
 Intended use for the remaining amount of cash (if any):                                    (a) Continue to fund Thor's working capital requirements, focussing on the development of its advanced Molyhil tungsten project in Australia's Northern Territory. (b) The outstanding instalments from the credit support for the equity swap, together with the equity swap settlements, will be used to continue to fund Thor's working capital requirements, focussing on the development of its advanced Molyhil tungsten project  
                                                                                            in Australia's Northern Territory.                                                                                                                                                                                                                                                                                                                                                                                                      
 For non-cash issues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
 Non-cash consideration paid:                                                               (a) £34,033(b) Nil                                                                                                                                                                                                                                                                                                                                                                                                                      
 Current value of that non-cash consideration:                                              (a) £56,533 based on the closing price of CDIs on ASX at 15 September 2014, converted to GBP at the exchange rate applicable on 15 September 2014.(b) N/A                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 Date of issue:                                                                             19 August 2014                                                                                                                                                                                                                                                                                                                                                                                                                          
 Number issued:                                                                             (a) 38,888,888(b)   7,500,000                                                                                                                                                                                                                                                                                                                                                                                                           
 Class/Type of equity issued:                                                               (a) CDIs(b) Shares                                                                                                                                                                                                                                                                                                                                                                                                                      
 Summary of terms:                                                                          (a) Fully paid ordinary shares (beneficially held as CDIs) and ranking equally with all other shares on issue.(b) Fully paid ordinary shares listed on AIM and ranking equally with all other shares on issue.                                                                                                                                                                                                                          
 Names of persons who received securities or basis on which those persons were determined:  (a) Sophisticated investors identified by the Company as follows: Hush Hush Pty Ltd; Dunham Holdings Pty Ltd; and Trevor & Helen Saward.(b) Lanstead Capital LP.                                                                                                                                                                                                                                                                        
 Price:                                                                                     (a) A$0.0018 (equivalent to approximately £0.001)(b) £0.001                                                                                                                                                                                                                                                                                                                                                                             
 Discount to market price (if any):                                                         (a) 40% discount to the ASX closing price at 19 August 2014 of A$0.003 (17% discount to AIM closing price on the 19 August 2014)(b) 17% discount to the AIM closing price at 19 August 2014 of £0.0012                                                                                                                                                                                                                                  
 For cash issues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 Total cash consideration received:                                                         (a) A$70,250(b) Nil                                                                                                                                                                                                                                                                                                                                                                                                                     
 Amount of cash consideration spent:                                                        (a) Nil(b) Nil                                                                                                                                                                                                                                                                                                                                                                                                                          
 Use of Cash consideration:                                                                 N/A                                                                                                                                                                                                                                                                                                                                                                                                                                     
 Intended use for the remaining amount of cash (if any):                                    To fund Thor's working capital requirements, focussing on the development of its advanced Molyhil tungsten project in Australia's Northern Territory.                                                                                                                                                                                                                                                                                   
 For non-cash issues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
 Non-cash consideration paid:                                                               (a) Nil(b) £7,500.  Issued in satisfaction of commission payable on the 31 July 2014 share issue to Lanstead Capital LP.                                                                                                                                                                                                                                                                                                                
 Current value of that non-cash consideration:                                              £12,458 based on the closing price of CDIs on ASX at 15 September 2014, converted to GBP at the exchange rate applicable on 15 September 2014.                                                                                                                                                                                                                                                                                          
 
 
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