Appendix 5B - Quarterly Report to September 2011
THOR MINING PLC
Appendix 5B - September 2011 Quarterly Report
Dated: 27 October 2011
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the resources company focused on gold and base metals projects and advancing tungsten-molybdenum projects in the Northern Territory of Australia, today released the following report on the Australian Stock Exchange ("ASX"), as required under the listing rules of the ASX.
Appendix 5B
Mining exploration entity quarterly report
|
Name of entity |
|
THOR MINING PLC |
|
ACN or ARBN |
|
Quarter ended ("current quarter") |
|
121 117 673 |
|
30 September 2011 |
Consolidated statement of cash flows
|
Cash flows related to operating activities
|
Current quarter $A'000 |
Year to date (3 months) |
|
|
1.1 |
Receipts from product sales and related debtors |
0 |
0 |
|
1.2 |
Payments for (a) exploration & evaluation (b) development (c) production (d) administration |
(961) 0 0 (358)
|
(961) 0 0 (358)
|
|
1.3 |
Dividends received |
0 |
0 |
|
1.4 |
Interest and other items of a similar nature received |
26 |
26 |
|
1.5 |
Interest and other costs of finance paid |
0 |
0 |
|
1.6 |
Income taxes paid |
0 |
0 |
|
1.7 |
Other (provide details if material)
|
0 |
0 |
|
|
Net Operating Cash Flows |
(1,293) |
(1,293) |
|
|
Cash flows related to investing activities |
|
|
|
1.8 |
Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets |
0 0 (8) |
0 0 (8) |
|
1.9 |
Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets |
0 0 0 |
0 0 0 |
|
1.10 |
Loans to other entities |
0 |
0 |
|
1.11 |
Loans repaid by other entities |
0 |
0 |
|
1.12 |
Other:- Deposits supporting guarantees |
(100) |
(100) |
|
|
Net investing cash flows |
(108) |
(108) |
|
1.13 |
Total operating and investing cash flows (carried forward)
|
(1,401) |
(1,401) |
|
1.13 |
Total operating and investing cash flows (brought forward) |
(1,401) |
(1,401) |
|
|
Cash flows related to financing activities |
|
|
|
1.14 |
Proceeds from issues of shares, options, etc. (Refer Note 6) |
641 |
641 |
|
1.15 |
Proceeds from sale of forfeited shares |
0 |
0 |
|
1.16 |
Proceeds from borrowings |
0 |
0 |
|
1.17 |
Repayment of borrowings |
(3) |
(3) |
|
1.18 |
Dividends paid |
0 |
0 |
|
1.19 |
Other (provide details if material) |
0 |
0 |
|
|
Net financing cash flows |
638 |
638 |
|
|
Net increase (decrease) in cash held |
(763) |
(763) |
|
1.20 |
Cash at beginning of quarter/year to date |
2,377 |
2,377 |
|
1.21 |
Exchange rate adjustments to item 1.20 |
0 |
0 |
|
1.22 |
Cash at end of quarter |
1,614 |
1,614 |
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 |
97 |
|
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 |
|
|
|
$97,250 includes: - Directors fees, including superannuation for 5 Directors, totalling $20,000; Consulting fees totalling $77,250 (M Billing, $49,000, T Ireland, $28,250);
|
|
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 |
|
|
40,000,000 shares issued (escrowed until 2/8/2012) in part payment of 25% of Springhill Project |
|
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
|
1,250
|
|
4.2 |
Development
|
0 |
|
4.3 |
Production
|
0 |
|
4.4 |
Administration
|
370 |
|
|
Total |
1,620 |
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 |
178 |
159 |
|
5.2 |
Deposits at call |
936 |
1,218 |
|
5.3 |
Bank overdraft |
0 |
0 |
|
5.4 |
Other (90 day Term Deposit) |
500 |
1,000 |
|
|
Total: cash at end of quarter (item 1.22) |
1,614 |
2,377 |
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
|
EL 22957 ML 23812 EL 28855 |
Springhill Gold Project Springhill Gold Project Springhill Gold Project |
0% 0% 0% |
25% 25% 100% |
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 (b) Decreases |
|
|
|
|
|
7.3 |
+Ordinary securities |
601,512,950 |
601,512,950 Refer Note 7 |
N/A |
Fully Paid |
|
7.4 |
Changes during quarter (a) Increases through issues (b) Issued shares escrowed until 2/8/2011 (c) Decreases through returns of capital, buy-backs |
31,059,518
40,000,000
0
|
31,059,5018 Refer Note 8 0
0
|
1.34 pence
N/A |
Fully Paid
Fully Paid |
|
7.5 |
+Convertible debt securities (description) |
|
|
|
|
|
7.6 |
Changes during quarter (a) Increases (b) Decreases |
|
|
|
|
|
7.7 |
Options
(description and conversion factor) Options B:
Options C (Directors)
Options D (associates)
Options D (associates)
Share placement -CDI Warrants -UK Warrants |
5,000,000
8,000,000
1,000,000
1,000,000
27,922,800
14,024,173
|
0
0
0
0
27,922,800
14,024,173 |
Exercise price (Cents) 5.0
4.0
5.0
3.5
2.625
1.5 UK pence |
Expiry date
31/03/2012
24/11/2013
20/12/2013
13/06/2014
25/03/2012
31/03/2012 |
|
7.8 |
Issued during quarter Options D
|
0 |
0 |
- |
|
|
7.9 |
Exercised during quarter -CDI Warrants -UK Warrants
|
0 462,500 |
0 462,500 |
0 1.5 UK pence |
|
|
7.10 |
Expired during quarter Options A*
Option B* |
5,000,000
2,000,000 |
0
0 |
18
4.0 |
15/09/2011
24/11/2013 |
|
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: 26/10/2011
(Company Secretary)
Print name: Allan Burchard
Notes
1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities. The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
6 Proceeds are net of issue costs.
7 Ordinary securities comprise of:
Listed on London Stock Exchange (AIM) 314,910,824
Escrowed until 2/8/2012 on Australian Stock Exchange 40,000,000
Listed on Australian Stock Exchange (ASX) - as CDI's 246,602,126
Total Ordinary Shares at 3o September 2011 601,512,950
8 Issues during the quarter comprise of:
Listed on London Stock Exchange (AIM) 31,059,518
Escrowed until 2/8/2012 on ASX - as CDI's 40,000,000
Total Ordinary Shares issued to 30 September 71,059,518
Enquiries:
|
Mick Billing |
+61 (8) 7324 193
|
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 |
|
Alex Walters |
+44 (0) 7771713608 |
Cadogan PR |
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.
This information is provided by RNS
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