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Thor Mining PLC (THR)

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Thursday 02 April, 2020

Thor Mining PLC

Change of Director's Interest Notice

RNS Number : 5636I
Thor Mining PLC
02 April 2020
 

2 April 2020

 

THOR MINING PLC

Change of Director's Interest Notice

 

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) announced earlier today, as required under the listing rules of the Australian Stock Exchange ("ASX"), a Change of Director's Interest Notice relating to warrants that have lapsed.

 

Enquiries:

Mick Billing

    +61 (8) 7324 1935

Executive Chairman

Ray Ridge

    +61 (8) 7324 1935

Thor Mining PLC

CFO/Company

Secretary

Colin Aaronson/

Richard Tonthat/ Niall McDonald

+44 (0) 207 383 5100

Grant Thornton UK LLP 

Nominated Adviser

Nick Emerson

Claire Louise Noyce /

John Beresford-Peirse

 

+44 (0) 1483 413 500

    +44 (0) 203 764 2341

SI Capital Ltd

Hybridan LLP

Joint Broker

Joint Broker

 

 

 

 

 

Updates on the Company's activities are regularly posted on Thor's website   w w w.th o r m i n i ng .c o m , which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.

 

Ab o u t Thor Mining PLC

Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.

Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.

Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred Resource estimates for the White Violet and Samarkand tungsten deposits and the Bonya copper deposit ².

Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate ³ on 2 of the 4 known deposits.  The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.

Thor holds a 25% interest Australian copper development company EnviroCopper Limited (with rights to increase its interest to 30%).  EnviroCopper Limited holds:

· r ights to earn up to a 75% interest in the mineral rights and claims over the resource on the p o r tion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery; and

· rights to earn up to 75% of the Moonta copper project, also in South Australia comprising the northern portion of exploration licence EL5984 and includes a resource estimate for several deposits.

Thor also holds a production royalty entitlement from the Spring Hill Gold project of :

  A$5.70 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for up to A$1,500 per ounce; and

  A$13.30 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 per ounce.

N ot e s

¹ Refer ASX and AIM announcement of 23 August 2018

² Refer ASX and AIM announcements of 26 November 2018 and 29 January 2020

³ Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018

  Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018

Refer ASX and AIM announcement of 15 August 2019

Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016

 

 

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 30/9/2001.

 

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

4 December 2019

 

 

 

 

 

 

 

 

 

 

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

 

Direct or indirect interest

Direct & 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

31 March 2020

No. of securities held before change - Direct

· 6,173,340 CDIs

· 100,000 AIM listed Shares

· 3,000,000 Unlisted options, exercise price 1.8 pence, expiry 31/3/20.

· 4,500,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21.

 

No. of securities held before change - Indirect

Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund.

· 16,673,689 CDIs

 

Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap BB Super Fund.

· 7,675,000 CDIs

 

Held by MBB Trading Pty Ltd

· 14,785,394 CDIs

 

Class

CDIs

Number acquired - Direct

Nil

 

Number acquired - Indirect

 

 

Nil

 

Number disposed

· 3,000,000 Unlisted options lapsed (exercise price 1.8 pence, expiry 31/3/20).

 

 

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

Nil.  Unlisted options lapsed.

No. of securities held after change - Direct

· 6,173,340 CDIs

· 100,000 AIM listed Shares

· 4,500,000 Unlisted options, exercise price 3.5625 pence, expiry 07/06/21.

 

No. of securities held after change - Indirect

Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap Super Fund.

· 16,673,689 CDIs

 

Held by Mr M Billing and Mrs B Billing as trustees and beneficiaries of the Lapun Kamap BB Super Fund.

· 7,675,000 CDIs

 

Held by MBB Trading Pty Ltd

· 14,785,394 CDIs

 

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Unlisted options lapsed.

 

Part 2 - Change of director's interests in contracts

 

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 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

 


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