Sale of Shares in Ram Resources (ASX: RMR)

RNS Number : 0865N

Thor Mining PLC

23 July 2014

 



23 July 2014

Thor Mining PLC ("Thor" or the "Company")

Sale of Shares in Ram Resources (ASX: RMR)

As announced on 20th May 2014, Thor Mining PLC ("Thor") (AIM, ASX: THR) has sold its 60% interest in the base metal rights at the Dundas project in Western Australia (with Thor retaining its 60% interest in gold and associated metals).  Consideration for the disposal included A$70,000 payable to Thor in ordinary fully paid shares in RMR.

The Directors of Thor advise that 6,363,636 ordinary fully paid shares in RMR were subsequently issued to Thor at a value of A$0.011 per share, and Thor has since sold these shares for A$102,107 (being an average price of A$0.016 per share).

The proceeds of A$102,107 will be used primarily to finalise an upgraded Definitive Feasibility Study at Thor's Molyhil tungsten project in Australia's Northern Territory.

 Enquiries:

Mick Billing	[phone]	Thor Mining PLC	Executive Chairman
Ray Ridge	[phone]	Thor Mining PLC	CFO/Company Secretary
Colin Aaronson/ David Hignell/ Jamie Barklem	[phone]	Grant Thornton UK LLP	Nominated Adviser
Andrew Monk/ Bhavesh Patel	[phone]	VSA Capital Ltd	Broker
Alex Walters	[phone] [phone]	Cadogan PR	FinancialPR

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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