Director/PDMR Shareholding

RNS Number : 5240V

Thor Mining PLC

03 December 2019

 

Tuesday, 3 December 2019

THOR MINING PLC

 ("Thor" or the "Company")

Director/PDMR Shareholding

The Directors of Thor Mining PLC (AIM, ASX: THR) are pleased to advise of the acquisition on 29 November 2019 by a Director, Michael Billing, of ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares") through participation in a placement on the same terms as other placees, as approved by shareholders at the Annual General Meeting held on 28 November 2019.

The relevant details are provided in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation and the Australian Securities Exchange.

Mick Billing	[phone]	Thor Mining PLC	Executive Chairman
Ray Ridge	[phone]	Thor Mining PLC	CFO/Company Secretary
Colin Aaronson/ Richard Tonthat/ Ben Roberts	[phone]	Grant Thornton UK LLP	Nominated Adviser
Claire Louise Noyce / John Beresford-Peirse	[phone]	Hybridan LLP	Joint Broker
Nick Emerson	[phone]	SI Capital Ltd	Joint Broker

Enquiries:

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, and on the Company's twitter page @ThorMining.

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 holds a 25% interest Australian copper development company EnviroCopper Limited (with rights to increase its interest to 30%).  EnviroCopper Limited 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; and

·    rights to earn up to 75% of the Moonta copper project, also in South Australia comprising the northern portion of exploration licence EL5984 and includes a resource estimate⁵ for several deposits.

Thor has an interest in Hawkstone Mining Limited, an Australian ASX listed company with a 100% Interest in a Lithium project with a JORC compliant resource in Arizona, USA.

Finally, Thor also holds a production royalty entitlement from the Spring Hill Gold project⁶ 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 ASX and AIM announcement of 15 August 2019

⁶ Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016

 

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity:   Thor Mining PLC

ARBN:   121 117 673

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act. 

Name of Director	Michael Robert Billing
Date of last notice	9 November 2018

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Direct & Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Michael Billing is: ·    a trustee and beneficiary of the Lapun Kamap Super Fund ·    a trustee and beneficiary of the Lapun Kamap BB Super Fund ·    a director and shareholder of MBB Trading Pty Ltd.
Date of change	29 November 2019
No. of securities held before change - Direct	·    6,173,340 CDIs ·    100,000 AIM listed Shares ·    3,000,000 Unlisted options, exercise price 1.8 pence, expiry 31/3/20. ·    4,500,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21.
No. of securities held before change - Indirect	Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund. ·      13,373,689 CDIs Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap BB Super Fund. ·      4,375,000 CDIs Held by MBB Trading Pty Ltd ·      11,385,394 CDIs
Class	CDIs
Number acquired - Direct	Nil
Number acquired - Indirect	3,300,000 CDIs acquired by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund 3,300,000 CDIs acquired by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap BB Super Fund 3,400,000 CDIs acquired by MBB Trading Pty Ltd
Number disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	£0.002 per CDI, or total consideration of £20,000.
No. of securities held after change - Direct	·    6,173,340 CDIs ·    100,000 AIM listed Shares ·    3,000,000 Unlisted options, exercise price 1.8 pence, expiry 31/3/20. ·    4,500,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21.
No. of securities held after change - Indirect	Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund. ·      16,673,689 CDIs Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap BB Super Fund. ·      7,675,000 CDIs Held by MBB Trading Pty Ltd ·      14,785,394 CDIs
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	CDIs acquired as a result of participation in the recent placement on the same terms as other placees.  Approved by Shareholders on 28 November 2019.

 

Part 2 - Change of director's interests in contracts

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
Interest after change

Part 3 - +Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	No.
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Billing Details of legal persons: (a)   Lapun Kamap Super Fund (Michael Billing is a trustee and beneficiary). (b)   Lapun Kamap BB Super Fund (Michael Billing is a trustee and beneficiary). (c)   MBB Trading Pty Ltd (Michael Billing is a director and shareholder).
2	Reason for the notification
a)	Position/status	Executive Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thor Mining Plc
b)	LEI	213800WO61Y9GPALD478
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 0.01 pence each
	Identification code	GB00BD0NBV71
b)	Nature of the transaction	Participation in a placement, on the same terms as other investors. Ordinary Shares allotted as follows: (a)   Lapun Kamap Super Fund 3,30,000. (b)   Lapun Kamap BB Super Fund 3,300,000. (c)   MBB Trading Pty Ltd 3,400,000.
.c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.2 pence	10,000,000
d)	Aggregated information
	- Aggregated volume	Aggregate volume: 10,000,000
	- Price	Aggregate price: 0.2 pence Aggregate total: £20,000.00
e)	Date of the transaction	29 November 2019
f)	Place of the transaction	London Stock Exchange's AIM Market

 

END

 

 

DSHUOAURKBAURAA