Sale of Spring Hill Gold Project Update

RNS Number : 9569N

Thor Mining PLC

03 February 2016

 

3 February 2016

THOR MINING PLC

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

SALE OF SPRING HILL GOLD PROJECT UPDATE

The Board of Thor Mining Plc ("Thor") (AIM, ASX: THR) provide the following update on the sale of its Spring Hill Gold Project to private Australian company, PC Gold Pty Ltd ("PC Gold"), for A$3.5 million, plus royalties, originally announced on 16 December 2015. 

As announced at the time, the agreement with PC Gold is subject to receipt by that company of an unconditional financing offer from a precious metal private equity fund based in San Francisco, USA. 

Thor has been advised that the financier and PC Gold have completed their technical due diligence, and have moved towards finalisation of formal agreements. 

It is expected that settlement of the initial 60% interest in Spring Hill will take place during February.

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.

 

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