Appendix 5B - Quarter to 31 D
THOR MINING PLC
Appendix 5B - December 2011 Quarterly Report
Dated: 1 February 2011
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the exploration company focussed on gold and base metal projects and advancing tungsten-molybdenum projects in the Northern Territory of Australia, lodged the following Appendix 5B quarterly report with the Australian Securities Exchange (ASX) as required by the listing rules of ASX.
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.
|
Name of entity |
|
THOR MINING PLC
|
|
ACN or ARBN |
|
Quarter ended ("current quarter") |
|
121 117 673 |
|
31 December 2010 |
Consolidated statement of cash flows
|
Cash flows related to operating activities
|
Current quarter $A'000 |
Year to date (6 months) $A'000 |
|
|
1.1 |
Receipts from product sales and related debtors |
0 |
0 |
|
1.2 |
Payments for (a) exploration & evaluation (b) development (c) production (d) administration |
(95) 0 0 (288)
|
(232) 0 0 (611)
|
|
1.3 |
Dividends received |
0 |
0 |
|
1.4 |
Interest and other items of a similar nature received |
10 |
14 |
|
1.5 |
Interest and other costs of finance paid |
0 |
(1) |
|
1.6 |
Income taxes paid |
0 |
0 |
|
1.7 |
Other (provide details if material)
|
0 |
0 |
|
|
Net Operating Cash Flows |
(373) |
(830) |
|
|
Cash flows related to investing activities |
|
|
|
1.8 |
Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets |
0 0 (25) |
0 0 (25) |
|
1.9 |
Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets |
0 0 0 |
0 0 20 |
|
1.10 |
Loans to other entities |
0 |
0 |
|
1.11 |
Loans repaid by other entities |
0 |
0 |
|
1.12 |
Other (provide details if material) |
0 |
0 |
|
|
Net investing cash flows |
(25) |
(5) |
|
1.13 |
Total operating and investing cash flows (carried forward)
|
(398) |
(835) |
|
1.13 |
Total operating and investing cash flows (brought forward) |
(398) |
(835) |
|
|
Cash flows related to financing activities |
|
|
|
1.14 |
Proceeds from issues of shares, options, etc. (Refer Note 6) |
895 |
1865 |
|
1.15 |
Proceeds from sale of forfeited shares |
0 |
0 |
|
1.16 |
Proceeds from borrowings |
0 |
0 |
|
1.17 |
Repayment of borrowings |
0 |
(3) |
|
1.18 |
Dividends paid |
0 |
0 |
|
1.19 |
Other (provide details if material) |
0 |
0 |
|
|
Net financing cash flows |
895 |
1862 |
|
|
Net increase (decrease) in cash held |
497 |
1027 |
|
1.20 |
Cash at beginning of quarter/year to date |
578 |
62 |
|
1.21 |
Exchange rate adjustments to item 1.20 |
(11) |
(25) |
|
1.22 |
Cash at end of quarter |
1064 |
1064 |
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
|
|
Current quarter $A'000 |
|
|
1.23 |
Aggregate amount of payments to the parties included in item 1.2 |
102 |
|
1.24 |
Aggregate amount of loans to the parties included in item 1.10 |
0 |
|
1.25 |
Explanation necessary for an understanding of the transactions |
|
|
|
$101,673 includes: - Directors fees, including superannuation for 5 Directors, totalling $19,533; Consulting fees totalling $26,140 (M Billing, $19000, T Ireland, $7,140); and payments to Western Desert Resources of $56,000 for office accommodation, secretarial and accounting services.
|
|
Non-cash financing and investing activities
|
2.1 |
Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows |
|
|
In September quarter, issue of 57 million shares, as consideration for the acquisition of tenements at the Dundas Gold resource near Norseman, WA.
|
|
2.2 |
Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest |
|
|
Nil
|
Financing facilities available
Add notes as necessary for an understanding of the position.
|
|
|
Amount available $A'000 |
Amount used $A'000 |
|
3.1 |
Loan facilities
|
|
|
|
3.2 |
Credit standby arrangements |
0 |
0 |
Estimated cash outflows for next quarter
|
|
|
$A'000 |
|
4.1 |
Exploration and evaluation
|
250
|
|
4.2 |
Development
|
0 |
|
4.3 |
Production
|
0 |
|
4.4 |
Administration
|
250 |
|
|
Total |
500 |
Reconciliation of cash
|
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. |
Current quarter $A'000 |
Previous quarter $A'000 |
|
|
5.1 |
Cash on hand and at bank |
1064 |
578 |
|
5.2 |
Deposits at call |
|
2 |
|
5.3 |
Bank overdraft |
0 |
0 |
|
5.4 |
Other (provide details) |
0 |
0 |
|
|
Total: cash at end of quarter (item 1.22) |
1064 |
578 |
Changes in interests in mining tenements
|
|
|
Tenement reference |
Nature of interest (note (2)) |
Interest at beginning of quarter |
Interest at end of quarter |
|
6.1 |
Interests in mining tenements relinquished, reduced or lapsed
|
|
|
|
|
|
6.2 |
Interests in mining tenements acquired or increased
|
|
|
|
|
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
|
|
Total number |
Number quoted |
Issue price per security (see note 3) (cents) |
Amount paid up per security (see note 3) (cents) |
|
|
7.1
|
Preference +securities (description) |
|
|
|
|
|
7.2 |
Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions |
|
|
|
|
|
7.3 |
+Ordinary securities |
439,934,407 |
439,934,407 Refer Note 7 |
N/A |
Fully Paid |
|
7.4 |
Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs |
58,373,495 |
58.373,495 Refer Note 8 |
1.62 cents |
Fully Paid |
|
7.5 |
+Convertible debt securities (description) |
|
|
|
|
|
7.6 |
Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
|
|
|
|
|
7.7 |
Options
(description and conversion factor)
Options A: (Directors)
Options B:
Options C (Directors)
Share placement -CDI Warrants -UK Warrants |
5,000,000
5,000,000
10,000,000
28,135,126
17,158,451
|
0
0
0
28,135,126
0
|
Exercise price (Cents)
18.00
5.00
4.00
2.625
1.5 UK pence
|
Expiry date
15/09/2011
31/03/2012
24/11/2013
25/03/2012
31/03/2012
|
|
7.8 |
Issued during quarter Options C (Directors)
|
10,000,000 |
0 |
4.0 |
24/11/2013 |
|
7.9 |
Exercised during quarter -CDI Warrants
-UK Warrants
|
6,735
1,367,760 |
6,735
1,367,760 |
2.625
1.5 UK pence |
|
|
7.10 |
Expired during quarter Options A* |
|
|
|
|
|
7.11 |
Debentures (totals only) |
|
|
|
|
|
7.12 |
Unsecured notes (totals only) |
|
|
|
|
Compliance statement
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
2 This statement does give a true and fair view of the matters disclosed.
Sign here: ............................................................
Date: 31/01/2011
(Company Secretary)
Print name: Allan Burchard
Enquiries:
|
Mick Billing
|
+61 (8) 7324 1935
|
Thor Mining PLC
|
Executive Chairman
|
|
Allan Burchard
|
+61 (8) 7324 1935
|
Thor Mining PLC
|
CFO/Company Secretary
|
|
John Simpson
|
+44 (0)20 7776 6550
|
Daniel Stewart & Co plc
|
Nominated Adviser
|
|
Nick Emerson/
Renato Rufus
|
+44 (0) 1483 413500
|
Simple Investments
|
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.
This information is provided by RNS
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