REG - Thor Mining PLC - Response to ASX Price Query

Thor EnergyAnnouncement

13/06/2019 07:06

RNS Number : 0802C
Thor Mining PLC
13 June 2019
 


13 June 2019
 
THOR MINING PLC
ASX RESPONSE TO PRICE QUERY
 
The Board of Thor Mining Plc ("Thor" or "the Company")) (AIM, ASX: THR) has issued a response to a price query from the Australian Securities Exchange ("ASX") in which it confirmed that it was not aware of any information which could explain the recent movement in the price of the Company's ordinary shares on ASX.
The full text of the response can be found at:
https://www.asx.com.au/asxpdf/20190613/pdf/445tl7fkpx8kv0.pdf 
 
 
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/
Richard Tonthat/ Ben Roberts


+44 (0) 207 383 5100
 


Grant Thornton UK LLP
 


Nominated Adviser




Nick Emerson


+44 (0) 1483 413 500


SI Capital Ltd


Joint Broker




David Hignell / Rob Rees 


+44 (0) 20 3470 0470


SP Angel Corporate Finance LLP


Joint Broker




Tim Blythe/ Camilla Horsfall


+44 (0) 207 138 3222


Blytheweigh


Financial PR



 
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including an Inferred resource for the Bonya copper deposit².
Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known deposits.  The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.
Thor is also acquiring up to a 60% interest Australian copper development company Environmental Copper Recovery SA Pty Ltd, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource⁴ on the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery. 
Thor has an interest in Hawkstone Mining Limited, an Australian ASX listed company with a 100% Interest in a Lithium project in Arizona, USA.
Finally, Thor also holds a production royalty entitlement from the Spring Hill Gold project⁵ of:
•  A$6 per ounce of gold produced from the Spring Hill tenements where the gold produced 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 produced is sold for amounts over A$1,500 per ounce.
 
Notes
¹ Refer ASX and AIM announcement of 23 August 2018
² Refer ASX and AIM announcement of 26 November 2018
³ Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018
⁴ Refer AIM announcement of 10 February 2016 and ASX announcement of 12 February 2018
⁵ Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016




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