Director/PDMR Shareholding

RNS Number : 2565H

Thor Mining PLC

02 December 2020

 

2 December 2020

THOR MINING PLC

("Thor" or the "Company")

Director/PDMR Shareholding

The Directors of Thor Mining PLC (AIM, ASX: THR) provide a notice of the change in securities held by a Director, Mr Mark McGeough.

The change in Mr McGeough's interest follows the exercise of 416,667 warrants announced on 26 November 2020, resulting in an increase of Thor ordinary shares of 0.01p each ("Ordinary Shares") held of 416,667 and the disposal on market of 50,000 Ordinary Shares as CDIs quoted on the ASX.

Following the aforementioned transactions, Mark McGeough holds 1,861,765 Ordinary Shares representing 0.12% of the Company's voting rights.

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.

Enquiries:

Mick Billing [phone] Thor Mining PLC Executive Chairman Ray Ridge [phone] Thor Mining PLC CFO/Company Secretary Colin Aaronson [phone] Grant Thornton UK LLP  Nominated Adviser Nick Emerson [phone] SI Capital Ltd Broker

Updates on the Company's activities are regularly posted on Thor's website www.thormining.com,which includesafacilityto register toreceivethese updates byemail,and ontheCompany's twitter page @ThorMining.

Ab o u t 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 2018 ¹ 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 deposit ² .

Thor also holds a 30% interest 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 in South Australia recoverable by way of in situ recovery ⁴ , and also holds rights to earn a 75% interest in portion of the Moonta Copper project also in South Australia, and is considered amenable to recovery by way of in situ recovery ⁵ .

Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate ³ 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.

At the 100% owned Ragged Range in the Pilbara region of Western Australia, Thor has exciting early stage results for which gold and nickel drilling is planned.

Thor holds mineral claims in the US states of Colorado and Utah with historical high-grade uranium and vanadium drilling and production results.

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 2018 and ASX announcement of 12 February 2018

⁵ Refer ASX and AIM announcement of 15 August 2019

 

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 30/09/01  Amended 01/01/11

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	Mark McGeough
Date of last notice	27 November 2020

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

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	2 December 2020 Shares issued 26 November 2020 Disposal of Shares
No. of securities held prior to change	· 1,495,098 Ordinary Shares/CDIs · 416,667 Unlisted optionsexercise price £0.01 expiring 23 October 2022
Class	· Ordinary Shares or CDI's · Unlisted options exercise price £0.01 expiring 23 October 2022
Number acquired	· 416,667 CDIs/Shares as a result of unlisted options exercised
Number disposed	· 416,667 unlisted options exercised price £0.01 expiring 23 October 2022 · 50,000 CDIs disposed of on market
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	· 416,667 CDIs/Shares acquired for £4,166.67. · 50,000 CDIs disposed of on market at $0.019 per CDI for total proceeds of $950.
No. of securities held after change	· 1,861,765 Ordinary Shares/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	· 416,667 unlisted options exercised at £0.01 per CDIs for 416,667 CDIs · 50,000 CDIs disposed of on market at $0.019 per CDI for total proceeds of $950.

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

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 an 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	Mark McGeough
2	Reason for the notification
a)	Position/status	Non-Executive Director
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	Ordinary share ISIN: GB00BD0NBV71
b)	Nature of the transaction	Issue of shares as a result of warrants exercised.
.c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Ordinary Shares		£0.01 (1 penny)	416,667
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	2 December 2020
f)	Place of the transaction	Outside a trading venue

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	Mark McGeough
2	Reason for the notification
a)	Position/status	Non-Executive Director
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	Ordinary share ISIN: GB00BD0NBV71
b)	Nature of the transaction	Disposal of Ordinary Shares.
.c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Ordinary Shares		A$0.019 (1.9 cents)	50,000
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	26 November 2020
f)	Place of the transaction	ASX

 

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