Director/PDMR Shareholding

RNS Number : 5574S

Thor Mining PLC

09 July 2020

 

9 July 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 each of the Directors.

The change in Directors' interests follows shareholder approval on 7 July 2020, for the following:

· the participation of Messrs Billing and Bradey in the placement announced 1 June 2020, on the same terms as other placees.  Messrs Billing and Bradey each received 2,000,000 CDIs and 1,000,000 ASX options on the basis of one option for every two CDIs subscribed (an ASX listing is being sought for the options);

· the issue 3,174,604 Ordinary Shares or CDIs comprising 1,587,302 Ordinary Shares or CDIs to each of Messrs Billing and Potter at A$0.0063 per Ordinary Share, in lieu of cash payment for 50% of their Directors' fees owing for the period 1 January to 30 June 2020; and

· the granting of 24,000,000 unlisted options, being 8,000,000 options to each of Messrs Billing, Potter and Bradey.

The table below summarises the change in securities and the resultant balance of securities held by the Directors, including the resultant percentage of the issued share capital held by each Director and their closely associated persons.

Director	Existing Shares held	Participation in the placing	Shares in lieu of cash Directors fees	Resultant Shares held		Existing Options held	Participation in the placing	Director Options	Resultant Options held
Michael Billing	45,407,423	2,000,000	1,587,302	48,994,725	3.82%	4,500,000	1,000,000	8,000,000	13,500,000
Richard Bradey	31,792	2,000,000	-	2,031,792	0.16%	8,000,000	1,000,000	8,000,000	17,000,000
Mark Potter	-	-	1,587,302	1,587,302	0.12%	-	-	8,000,000	8,000,000

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 Samantha Harrison/ Richard Tonthat/ Niall McDonald [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   w w w.th o r m i n i ng .c o m , which 
includes a facility to register to receive these updates by email, and on the Company'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 2018¹ suggested attractive returns.

Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred Resource estimates for the White Violet and Samarkand tungsten deposits and the Bonya copper deposit ².

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.

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

· r ights to earn up to a 75% interest in the mineral rights and claims over the resource ⁴ on the p o r tion of the historic Kapunda copper mine in South Australia considered 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 estimate ⁵ for several deposits considered recoverable by way of in situ recovery .

Thor also holds a production royalty entitlement from the Spring Hill Gold project ⁶ of :

· A$5.70 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$13.30 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 per ounce.

N ot e s

¹ Refer ASX and AIM announcement of 23 August 2018

² Refer ASX and AIM announcements of 26 November 2018 and 29 January 2020

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

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 30/09/01  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	Michael Robert Billing
Date of last notice	2 April 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 and 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	8 July 2020
No. of securities held prior to change	Direct · 6,173,340 CDIs · 100,000 AIM listed Shares · 4,500,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21 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
Class	· CDI's · Options exercise price A$0.01 expiring 8 July 2023 (ASX listing being sought - hereafter referred to as Listed Options) · Unlisted options exercisable at A$0.0095 expiring 8 July 2023
Number acquired	· 1,587,302 CDIs · 2,000,000 CDI's (placement) · 1,000,000 Listed options (placement) · 8,000,000 Unlisted options
Number disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	· 1,587,302 CDIs at A$0.0063 per CDI (A$10,000) · 2,000,000 CDIs at A$0.005 per CDI (A$10,000) · 1,000,000 Listed options at nil (1 for every 2 CDI's) · 8,000,000 Unlisted options, nil consideration
No. of securities held after change	Direct · 7,760,642 CDIs · 100,000 AIM listed Shares · 4,500,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21 Indirect Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund. · 16,673,689 CDIs · 8,000,000 Unlisted options exercisable at A$0.0095 expiring 8 July 2023 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 · 16,785,394 CDIs · 1,000,000 Listed Options exercise price A$0.01 expiring 8 July 2023
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	· 1,587,302 CDIs in lieu of cash payment for 50% of Directors fees owed for the period 1 January 2020 to 30 June 2020 · 2,000,000 CDI's on the same terms as the placement to external placees · 1,000,000 Listed options on the basis of 1 for every 2 CDI's subscribed, on the same terms as the placement to other placees · Unlisted options to incentivise Directors (approved by shareholders)

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

 

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	Richard Bradey
Date of last notice	3 July 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 and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Mrs Leanne Bradey (Spouse)
Date of change	8 July 2020
No. of securities held prior to change	Direct · 11,792 Ordinary Shares as CDIs · 5,000,000 Unlisted Options, exercise price 4.5 pence, expiry 29/12/20.  The options vest once the AIM traded price of Thor Shares exceeds 6 pence for 20 consecutive days · 3,000,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21 Indirect · 20,000 Ordinary Shares as CDIs
Class	· CDI's · Listed Options exercise price A$0.01 expiring 8 July 2023 (ASX listing being sought - hereafter referred to as Listed Options) · Unlisted options exercisable at A$0.0095 expiring 8 July 2023
Number acquired	· 2,000,000 CDI's · 1,000,000 Listed options · 8,000,000 Unlisted options
Number disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	· A$0.005 per CDI (A$10,000) · Nil Listed options (1 for every 2 CDI's) · Nil Unlisted options
No. of securities held after change	Direct · 11,792 CDIs · 5,000,000 Unlisted Options, exercise price 4.5 pence, expiry 29/12/20.  The options vest once the AIM traded price of Thor Shares exceeds 6 pence for 20 consecutive days. · 3,000,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21. Indirect · 2,020,000 Ordinary Shares as CDIs · 1,000,000 Listed Options exercise price A$0.01 expiring 8 July 2023 · 8,000,000 Unlisted options exercisable at A$0.0095 expiring 8 July 2023
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	· CDI's on the same terms as the placement to external placees · Listed options on the basis of 1 for every 2 CDI's subscribed, on the same terms as the placement to other placees · Unlisted options to incentivise Directors (approved by shareholders)

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

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 Potter
Date of last notice	29 August 2019

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.	N/A.
Date of change	8 July 2020
No. of securities held prior to change	Nil
Class	· Ordinary Shares/CDIs · Unlisted options exercisable at A$0.0095 expiring 8 July 2023
Number acquired	· 1,587,302 Ordinary Shares/CDIs · 8,000,000 Unlisted options
Number disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	· 1,587,302 CDIs at A$0.0063 per CDI (A$10,000) · 8,000,000 Unlisted options, nil consideration
No. of securities held after change	· 1,587,302 Ordinary Shares/CDIs · 8,000,000 Unlisted options exercisable at A$0.0095 expiring 8 July 2023
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 in lieu of cash payment for 50% of Directors fees owed for the period 1 January 2020 to 30 June 2020 · Unlisted options to incentivise Directors (approved by shareholders)

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	Michael Billing Details of legal persons: 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
		Options over ordinary shares of 0.01 pence each, exercise price AUD$0.01, expiring on 8 July 2023
	Identification code	Ordinary share ISIN: GB00BD0NBV71
b)	Nature of the transaction	Participation in a placement on the same terms as other Placces, including one option for every two Ordinary Shares.  Approved by shareholders on 7 July 2020.
.c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Ordinary Shares		AUD$0.005	2,000,000
	Options		nil	1,000,000
d)	Aggregated information
	- Aggregated volume	Aggregate volume: 2,000,000 (plus 1,000,000 options)
	- Price	Aggregate price: AUD$0.005 Aggregate total: AUD$10,000
e)	Date of the transaction	8 July 2020
f)	Place of the transaction	ASX (CHESS)

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	Richard Bradey Details of legal persons: Mrs L Bradey (closely associated person)
2	Reason for the notification
a)	Position/status	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
		Options over ordinary shares of 0.01 pence each, exercise price AUD$0.01, expiring on 8 July 2023
	Identification code	Ordinary share ISIN: GB00BD0NBV71
b)	Nature of the transaction	Participation in a placement on the same terms as other Placces, including one option for every two Ordinary Shares.  Approved by shareholders on 7 July 2020.
.c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Ordinary Shares		AUD$0.005	2,000,000
	Options		nil	1,000,000
d)	Aggregated information
	- Aggregated volume	Aggregate volume: 2,000,000 (plus 1,000,000 options)
	- Price	Aggregate price: AUD$0.005 Aggregate total: AUD$10,000
e)	Date of the transaction	8 July 2020
f)	Place of the transaction	ASX (CHESS)

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
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	Issued in lieu of cash for 50% of Directors fees owed for the period 1 January 2020 to 30 June 2020.
.c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			AUD$0.0063	1,587,302
d)	Aggregated information
	- Aggregated volume	Aggregate volume: 1,587,302
	- Price	Aggregate price: AUD$0.0063 Aggregate total: AUD$10,000
e)	Date of the transaction	8 July 2020
f)	Place of the transaction	ASX (CHESS)

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 Potter
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	GB00BD0NBV71
b)	Nature of the transaction	Issued in lieu of cash for 50% of Directors fees owed for the period 1 January 2020 to 30 June 2020.
.c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			AUD$0.0063	1,587,302
d)	Aggregated information
	- Aggregated volume	Aggregate volume: 1,587,302
	- Price	Aggregate price: AUD$0.0063 Aggregate total: AUD$10,000
e)	Date of the transaction	8 July 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	Michael Billing Details of legal persons: Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund
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	Options over ordinary shares of 0.01 pence each, exercise price AUD$0.0095, expiring on 8 July 2023
	Identification code	Ordinary share ISIN: GB00BD0NBV71
b)	Nature of the transaction	Grant of options over ordinary shares to Directors, as approved by shareholders on 7 July 2020.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	8,000,000
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	8 July 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 Potter
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	Options over ordinary shares of 0.01 pence each, exercise price AUD$0.0095, expiring on 8 July 2023
	Identification code	Ordinary share ISIN: GB00BD0NBV71
b)	Nature of the transaction	Grant of options over ordinary shares to Directors, as approved by shareholders on 7 July 2020.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	8,000,000
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	8 July 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	Richard Bradey Details of legal persons: Mrs L Bradey (closely associated person)
2	Reason for the notification
a)	Position/status	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	Options over ordinary shares of 0.01 pence each, exercise price AUD$0.0095, expiring on 8 July 2023
	Identification code	Ordinary share ISIN: GB00BD0NBV71
b)	Nature of the transaction	Grant of options over ordinary shares to Directors, as approved by shareholders on 7 July 2020.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	8,000,000
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	8 July 2020
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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