Response to ASX Query

RNS Number : 0094I

Thor Mining PLC

24 August 2016

 

24 August 2016

THOR MINING PLC

RESPONSE TO ASX QUERY

Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), advises that it has issued a response to an enquiry from ASX in relation to the Company's working capital position which was notified in its most recent Appendix 5B, lodged with ASX on 29 July 2016 for the three month period to 30 June 2016. 

The Board of Thor have confirmed that they expect the Company to continue operations and meet its business objectives on the basis of its current cash forecasts and its committed spending.

In particular the Company, in its response, confirmed that the final instalment of A$1.5m from the sale of Spring Hill is due to be received by Thor in February 2017 and that the Company is in discussions with the purchaser of Spring Hill, with a view to negotiating an early settlement of the A$1.5m. Thor's response also noted that the Company is considering other forms of finance secured on the outstanding instalment due from the purchaser of Spring Hill and that it is also considering other options that address the cash balance.

The full text of the ASX Appendix 5B query and the Company's response can be found at the following link:

http://www.rns-pdf.londonstockexchange.com/rns/0094I_-2016-8-24.pdf

Enquiries:

Mick Billing	[phone]	Thor Mining PLC	Executive Chairman
Ray Ridge	[phone]	Thor Mining PLC	CFO/Company Secretary
Colin Aaronson/ Daniel Bush/ Richard Tonthat	[phone]	Grant Thornton UK LLP	Nominated Adviser
Gerry Beaney/ David Hignell John Howes	[phone]	Northland Capital Partners Limited	Broker
Tim Blythe/ Camilla Horsfall	[phone]	Blytheweigh	Financial PR

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

 

 

MSCGRGDISUDBGLS