Director/PDMR Shareholding

RNS Number : 1137A

Thor Mining PLC

28 May 2021

 

28 May 2021

THOR MINING PLC

Director/PDMR Shareholding

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) provide a notice of the change in securities held by the Company's Executive Chairman Mr Billing.

The change in Mr Billing's interest follows the exercise of 1,000,000 warrants announced on 25 May 2021, resulting in an increase of 1,000,000 Thor ordinary shares of 0.01p each ("Ordinary Shares") held by MBB Trading Pty Ltd, as CHESS Depositary Interests ("CDIs") quoted on the ASX.  MBB Trading Pty Ltd, is a company closely associated with Mr Billing.

Following the aforementioned transaction, Mr Billing holds an interest in 53,156,490 Ordinary Shares, representing 3.27% 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.

- Ends  -

For further information on the Company, please visit  www.thormining.com  or contact the following: 

Thor Mining PLC
Mick Billing, Executive Chairman Nicole Galloway Warland, Managing Director Ray Ridge, CFO / Company Secretary	Tel: [phone] Tel: [phone] Tel: [phone]
WH Ireland Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
Jessica Cave / Darshan Patel Jasper Berry (Corporate Broking)
SI Capital Limited (Joint Broker)	Tel: [phone]
Nick Emerson
Yellow Jersey (Financial PR)	[e-mail]
Sarah Hollins / Henry Wilkinson	Tel: [phone]

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; OTCQB: THORF) is a diversified resource company quoted on the AIM Market of the London Stock Exchange, ASX in Australia and OTCQB Market in the United States.

The Company is advancing its diversified portfolio of precious, base, energy and strategic metal projects across USA and Australia. Its focus is on progressing its copper, gold, uranium and vanadium projects, while seeking investment/JV opportunities to develop its tungsten assets.

Thor owns 100% of the Ragged Range Project, comprising 92 km² of exploration licences with highly encouraging early stage gold and nickel results in the Pilbara region of Western Australia, for which drilling is planned in the first half of 2021.

At Alford East in South Australia, Thor is earning an 80% interest in copper deposits considered amenable to extraction via Insitu Recovery techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate of 177,000 tonnes contained copper & 71,000 oz gold¹.

Thor also holds a 30% interest in 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 and the Alford West copper project, both situated in South Australia and both considered amenable to recovery by way of ISR.²

Thor holds 100% interest in two private companies with mineral claims in the US states of Colorado and Utah with historical high-grade uranium and vanadium drilling and production results.

Thor holds 100% of the advanced Molyhil tungsten project, including indicated and inferred resources⁴, in the Northern Territory of Australia, which was awarded Major Project Status by the Northern Territory government in July 2020.

Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred resource estimates for the Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.⁵

Thor holds 100% of the Pilot Mountain tungsten project in Nevada, USA which has a JORC 2012 Indicated and Inferred Resources Estimate on 2 of the 4 known deposits.⁶

Notes

¹   www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf  

² www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf    

³ www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf

 ⁴ www.thormining.com/sites/thormining/media/pdf/asx-announcements/20191011-molyhil-mineral-resource-estimate-enhanced.pdf  

⁵ www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf  

⁶   www.thormining.com/sites/thormining/media/pdf/asx-announcements/20162017/20170522-tungsten-resource-increase.pdf  

www.thormining.com/sites/thormining/media/pdf/asx-announcements/20182019/20181214-pilot-mountain-resource-update.pdf  

 

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	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 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	28 May 2021
No. of securities held prior to change	Direct · 8,522,407 Ordinary Shares/CDIs · 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. · 17,423,689 Ordinary Shares/CDIs · 8,000,000 Unlisted options exercisable at A$0.0095 expiring 8 July 2023 · 375,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022 Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap BB Super Fund. · 8,425,000 ordinary Shares/CDIs ·375,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022 Held by MBB Trading Pty Ltd ·17,785,394 Ordinary Shares/CDIs ·1,000,000 Listed Options exercise price A$0.01 expiring 8 July 2023 ·500,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022
Class	· Ordinary Shares or CDI's · 1,000,000 Listed Options exercise price A$0.01 expiring 8 July 2023
Number acquired	1,000,000 Ordinary Shares/CDIs acquired by MBB Trading Pty Ltd, as a result of options exercised
Number disposed	1,000,000 Listed Options exercised by MBB Trading Pty Ltd (price A$0.01 expiring 8 July 2023)
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	1,000,000 Ordinary Shares/CDI's at an exercise price of $0.01 per Ordinary Share/CDI
No. of securities held after change	Direct · 8,522,407 Ordinary Shares/CDIs · 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. · 17,423,689 Ordinary Shares/CDIs · 8,000,000 Unlisted options exercisable at A$0.0095 expiring 8 July 2023 · 375,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022 Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap BB Super Fund. · 8,425,000 ordinary Shares/CDIs ·375,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022 Held by MBB Trading Pty Ltd · 18,785,394 Ordinary Shares/CDIs ·500,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	1,000,000 Ordinary Shares/CDI's issued as a result of options exercised, at an exercise price of $0.01 per Ordinary Share/CDI

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	MBB Trading Pty Ltd
2	Reason for the notification
a)	Position/status	An entity closely associated with Executive Director, Michael Billing
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		A$0.01 (1 cent)	1,000,000
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	28 May 2021
f)	Place of the transaction	Outside a trading venue

 

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