Change of Director's Interest Notice

RNS Number : 0993S

Thor Mining PLC

06 July 2020

 

6 July 2020

THOR MINING PLC

Change of Director's Interest Notice

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) announced, as required under the listing rules of the Australian Stock Exchange ("ASX"), a Change of Director's Interest Notice relating to warrants that have lapsed.

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	Richard Bradey
Date of last notice	13 June 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

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	27 June 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 · 1,500,000 Unlisted options exercisable at £0.018 expiring 27 June 2020.
Class	Unlisted options exercisable at £0.018 expiring 27 June 2020.
Number acquired	N/A
Number disposed	1,500,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	N/A
No. of securities held after 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
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Unlisted options lapsed on the expiry date of 27 June 2020

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

 

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