Issue of Equity - Update

RNS Number : 9767Z

Thor Mining PLC

24 January 2011

 

THOR MINING PLC

Issue of Equity - Update

Dated: 24 January 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, announced on 14 January 2011 the successful raising of a total of approximately £1,100,000 by way of a placing of a total of 49,777,778 new ordinary shares of 0.3p each in the capital of the Company (the "Placing"). Approximately £670,000 by way of a placing of 29,777,778 new ordinary shares of 0.3p each in the capital of the Company (the "UK Placing Shares") to UK sophisticated clients of Simple Investments at 2.25p per UK Placing Share and approximately AUD$700,000 (approximately £440,000 at current exchange rates) by way of a placing of 20,000,000 new ordinary shares of 0.3p each in the capital of the Company (the "AUS Placing Shares") through the issue of 20,000,000 voting CDI's in the Company (the "CDI's") at 3.5 cents per CDI to sophisticated investor clients of Patersons Securities Limited in Australia. The Placing is conditional on the UK Placing Shares and the AUS Placing Shares being admitted to trading on AIM.

An application has been made to the London Stock Exchange for the UK Placing Shares and the AUS Placing Shares, which will rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading and dealings are expected to commence at 8:00 a.m. (BST) on Friday 28 January 2011. In Australia an application will be made to the Australian Securities Exchange (the "ASX") for the quotation of New CDI's. Dealings are expected to commence on Friday 28 January 2011.

Following the issue of the UK Placing Shares and the AUS Placing Shares and the issue and allotment of the 1,139,951 Ordinary Shares following the exercise of Warrants announced on 19 January 2011 Company's total issued share capital is 490,198,605 ordinary shares of 0.3p each. In accordance with the Financial Services Authority Disclosure and Transparency Rules, the Company has 490,198,605 Ordinary Shares of 0.3p each in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury.

The above figure of 490,198,605 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

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.

 

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