THOR ENERGY PLC — AGM Information 2019

Nov 28, 2019

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RNS Number : 0127V

Thor Mining PLC

28 November 2019

28 November 2019

THOR MINING PLC 

RESULTS OF AGM

ISSUE OF EQUITY

The directors of Thor Mining Plc ("Thor" or "the Company") (AIM, ASX: THR) announce that at the AGM held earlier today, all resolutions were passed other than resolution 2. As announced earlier today, Resolutions 3 and 8 which were withdrawn prior to the meeting.

Proxy results for resolutions other than resolutions 3 and 8, were as follows:

Resolution	For	Against	Discretion of the Chairman	Withheld
1	210,753,297	24,268,384	466	483,294
2	81,311,026	153,613,867	160,466	420,482
4	212,762,602	22,162,291	160,466	420,482
5	193,926,627	37,364,146	466	4,214,602
6	191,621,642	43,757,988	466	125,745
7	205,208,153	29,562,590	466	734,632
9	162,039,173	72,771,495	160,466	534,707
10	107,000,655	43,101,279	160,466	677,977
11	106,353,321	43,732,413	160,466	633,857
12	124,818,833	74,891,271	466	34,995,271
13	150,006,773	75,647,151	466	9,851,451

ISSUE OF EQUITY

As a result of the passage of resolutions 11, 12 and 13, the Company will issue 141,666,667 Thor ordinary shares of 0.01p each ("Ordinary Shares") in order to complete the placing of Ordinary Shares at 0.2p per share announced on 22 October 2019. Included in the issue of shares are 10,000,000 Ordinary Shares to Mick Billing and 2,500,000 to David Thomas, as announced on 22 October 2019.

Application has been made for the admission of the 141,666,667 Ordinary Shares to trading on AIM with admission expected to take place on 29 November 2019.

Following the issue of the 141,666,667 Ordinary Shares, Thor will have 1,076,646,863 Ordinary Shares in issue.

Following the issue of the 10,000,000 Ordinary Shares, Mick Billing holds 45,407,423 Ordinary Shares representing 4.22 per cent. of the Company's issued share capital. In addition, Mr Billing holds 7,500,000 warrants to subscribe for Ordinary Shares.

TOTAL VOTING RIGHTS

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Thor will have 1,076,646,863 Ordinary Shares in issue with voting rights attached. Thor holds no shares in treasury. This figure of 1,076,646,863 ay 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 Company, under the ASX Listing Rules or the DTRs.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

Mick Billing	+61 (8) 7324 1935	Thor Mining PLC	Executive Chairman
Ray Ridge	+61 (8) 7324 1935	Thor Mining PLC	CFO/Company Secretary
Colin Aaronson/ Richard Tonthat/ Ben Roberts	+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  www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.

About 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 an Inferred resource for the Bonya copper deposit².

Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ 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:

·      rights to earn up to a 75% interest in the mineral rights and claims over the resource⁴ on the portion 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 estimate⁵ for several deposits.

Thor has an interest in Hawkstone Mining Limited, an Australian ASX listed company with a 100% Interest in a Lithium project with a JORC compliant resource in Arizona, USA.

Finally, Thor also holds a production royalty entitlement from the Spring Hill Gold project⁶ of:

•  A$6 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$14 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 per ounce.

Notes

¹ Refer ASX and AIM announcement of 23 August 2018

² Refer ASX and AIM announcement of 26 November 2018

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

⁴ Refer AIM announcement of 10 February 2016 and ASX announcement of 12 February 2018

⁵ Refer ASX and AIM announcement of 15 August 2019

⁶ Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2016

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