Appendix 5B - Quarter to 31 D

RNS Number : 4631A

Thor Mining PLC

01 February 2011

 

THOR MINING PLC

Appendix 5B - December 2011 Quarterly Report

Dated: 1 February 2011

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the exploration company focussed on gold and base metal projects and advancing tungsten-molybdenum projects in the Northern Territory of Australia, lodged the following Appendix 5B quarterly report with the Australian Securities Exchange (ASX) as required by the listing rules of ASX.

 

Mining exploration entity quarterly report

Introduced 1/7/96.  Origin:  Appendix 8.  Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

THOR MINING PLC

ACN or ARBN		Quarter ended ("current quarter")
121 117 673		31 December 2010

 

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter $A'000	Year to date              (6 months) $A'000
1.1	Receipts from product sales and related debtors	0	0
1.2	Payments for   (a)  exploration & evaluation                       (b)  development                       (c)  production                       (d)  administration	(95) 0 0 (288)	(232) 0 0 (611)
1.3	Dividends received	0	0
1.4	Interest and other items of a similar nature received	10	14
1.5	Interest and other costs of finance paid	0	(1)
1.6	Income taxes paid	0	0
1.7	Other (provide details if material)	0	0
	Net Operating Cash Flows	(373)	(830)
	Cash flows related to investing activities
1.8	Payment for purchases of:     (a)  prospects                       (b)  equity investments                       (c)  other fixed assets	0 0 (25)	0 0 (25)
1.9	Proceeds from sale of:          (a)  prospects                       (b)  equity investments                       (c)  other fixed assets	0 0 0	0 0 20
1.10	Loans to other entities	0	0
1.11	Loans repaid by other entities	0	0
1.12	Other (provide details if material)	0	0
	Net investing cash flows	(25)	(5)
1.13	Total operating and investing cash flows (carried forward)	(398)	(835)
1.13	Total operating and investing cash flows (brought  forward)	(398)	(835)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc. (Refer Note 6)	895	1865
1.15	Proceeds from sale of forfeited shares	0	0
1.16	Proceeds from borrowings	0	0
1.17	Repayment of borrowings	0	(3)
1.18	Dividends paid	0	0
1.19	Other (provide details if material)	0	0
	Net financing cash flows	895	1862
	Net increase (decrease) in cash held	497	1027
1.20	Cash at beginning of quarter/year to date	578	62
1.21	Exchange rate adjustments to item 1.20	(11)	(25)
1.22	Cash at end of quarter	1064	1064

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities

		Current quarter $A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	102
1.24	Aggregate amount of loans to the parties included in item 1.10	0
1.25	Explanation necessary for an understanding of the transactions
	$101,673 includes:  - Directors fees, including superannuation for 5 Directors, totalling  $19,533; Consulting fees totalling $26,140 (M Billing, $19000, T Ireland, $7,140); and payments to Western Desert Resources of $56,000 for office accommodation, secretarial and accounting services.

Non-cash financing and investing activities

2.1	Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
	In September quarter, issue of 57 million shares, as consideration for the acquisition of tenements at the Dundas Gold resource near Norseman, WA.

2.2	Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
	Nil

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available $A'000	Amount used $A'000
3.1	Loan facilities
3.2	Credit standby arrangements	0	0

Estimated cash outflows for next quarter

		$A'000
4.1	Exploration and evaluation	250
4.2	Development	0
4.3	Production	0
4.4	Administration	250
	Total	500

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.		Current quarter $A'000	Previous quarter $A'000
5.1	Cash on hand and at bank	1064	578
5.2	Deposits at call		2
5.3	Bank overdraft	0	0
5.4	Other (provide details)	0	0
	Total: cash at end of quarter (item 1.22)	1064	578

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed
6.2	Interests in mining tenements acquired or increased

 

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1	Preference +securities  (description)
7.2	Changes during quarter (a)  Increases through issues (b)  Decreases through returns of capital, buy-backs, redemptions
7.3	+Ordinary securities	439,934,407	439,934,407 Refer Note 7	N/A	Fully Paid
7.4	Changes during quarter (a)  Increases through issues (b)  Decreases through returns of capital, buy-backs	58,373,495	58.373,495 Refer Note 8	1.62 cents	Fully Paid
7.5	+Convertible debt securities (description)
7.6	Changes during quarter (a)  Increases through issues (b)  Decreases through securities matured, converted
7.7	Options  (description and conversion factor) Options A: (Directors) Options B: Options C (Directors) Share placement  -CDI Warrants -UK Warrants	5,000,000 5,000,000 10,000,000 28,135,126 17,158,451	0 0 0 28,135,126 0	Exercise  price (Cents) 18.00 5.00 4.00 2.625 1.5 UK pence	Expiry date 15/09/2011 31/03/2012 24/11/2013 25/03/2012 31/03/2012
7.8	Issued during quarter Options C (Directors)	10,000,000	0	4.0	24/11/2013
7.9	Exercised during quarter -CDI Warrants -UK Warrants	6,735 1,367,760	6,735 1,367,760	2.625 1.5 UK pence
7.10	Expired during quarter Options A*
7.11	Debentures (totals only)
7.12	Unsecured notes (totals only)

 

Compliance statement

1          This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

2          This statement does give a true and fair view of the matters disclosed.

Sign here:         ............................................................                                          
           Date: 31/01/2011

           (Company Secretary)

Print name:        Allan Burchard

 

Enquiries:

Mick Billing	[phone]	Thor Mining PLC	Executive Chairman
Allan Burchard	[phone]	Thor Mining PLC	CFO/Company Secretary
John Simpson	[phone]	Daniel Stewart & Co plc	Nominated Adviser
Nick Emerson/ Renato Rufus	[phone]	Simple Investments	Broker

 

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.

 

END

 

 

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