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Thor Mining PLC (THR)

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Friday 28 May, 2021

Thor Mining PLC

Director/PDMR Shareholding

RNS Number : 1137A
Thor Mining PLC
28 May 2021
 

28 May 2021

THOR MINING PLC

Director/PDMR Shareholding

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) provide a notice of the change in securities held by the Company's Executive Chairman Mr Billing.

 

The change in Mr Billing's interest follows the exercise of 1,000,000 warrants announced on 25 May 2021, resulting in an increase of 1,000,000 Thor ordinary shares of 0.01p each ("Ordinary Shares") held by MBB Trading Pty Ltd, as CHESS Depositary Interests ("CDIs") quoted on the ASX.  MBB Trading Pty Ltd, is a company closely associated with Mr Billing.

 

Following the aforementioned transaction, Mr Billing holds an interest in 53,156,490 Ordinary Shares, representing 3.27% of the Company's voting rights.

 

The relevant details are provided in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation and the Australian Securities Exchange.

 

 

- Ends  -

For further information on the Company, please visit  www.thormining.com  or contact the following: 

Thor Mining PLC

 

Mick Billing, Executive Chairman

Nicole Galloway Warland, Managing Director

Ray Ridge, CFO / Company Secretary

Tel: +61 (8) 7324 1935

Tel: +61 (8) 7324 1935

Tel: +61 (8) 7324 1935

 

 

WH Ireland Limited (Nominated Adviser and Joint Broker)

Tel: +44 (0) 207 220 1666

Jessica Cave / Darshan Patel

Jasper Berry (Corporate Broking)

 

 

 

SI Capital Limited (Joint Broker)

Tel: +44 (0) 1483 413 500

Nick Emerson

 

 

 

Yellow Jersey (Financial PR)

[email protected]

Sarah Hollins / Henry Wilkinson

Tel: +44 (0) 20 3004 9512

 

 

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; OTCQB: THORF) is a diversified resource company quoted on the AIM Market of the London Stock Exchange, ASX in Australia and OTCQB Market in the United States.

The Company is advancing its diversified portfolio of precious, base, energy and strategic metal projects across USA and Australia. Its focus is on progressing its copper, gold, uranium and vanadium projects, while seeking investment/JV opportunities to develop its tungsten assets.

Thor owns 100% of the Ragged Range Project, comprising 92 km2 of exploration licences with highly encouraging early stage gold and nickel results in the Pilbara region of Western Australia, for which drilling is planned in the first half of 2021.

At Alford East in South Australia, Thor is earning an 80% interest in copper deposits considered amenable to extraction via Insitu Recovery techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate of 177,000 tonnes contained copper & 71,000 oz gold¹.

Thor also holds a 30% interest in Australian copper development company EnviroCopper Limited, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource on the portion of the historic Kapunda copper mine and the Alford West copper project, both situated in South Australia and both considered amenable to recovery by way of ISR.²

Thor holds 100% interest in two private companies with mineral claims in the US states of Colorado and Utah with historical high-grade uranium and vanadium drilling and production results.

Thor holds 100% of the advanced Molyhil tungsten project, including indicated and inferred resources⁴, in the Northern Territory of Australia, which was awarded Major Project Status by the Northern Territory government in July 2020.

Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred resource estimates for the Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.⁵

Thor holds 100% of the Pilot Mountain tungsten project in Nevada, USA which has a JORC 2012 Indicated and Inferred Resources Estimate on 2 of the 4 known deposits.⁶

Notes

1   www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf  

2 www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf    

3 www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf

 4 www.thormining.com/sites/thormining/media/pdf/asx-announcements/20191011-molyhil-mineral-resource-estimate-enhanced.pdf  

5 www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf  

6   www.thormining.com/sites/thormining/media/pdf/asx-announcements/20162017/20170522-tungsten-resource-increase.pdf  

www.thormining.com/sites/thormining/media/pdf/asx-announcements/20182019/20181214-pilot-mountain-resource-update.pdf  

 

 

 

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 30/09/01  Amended 01/01/11

 

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

27 November 2020

 

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

 

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

 

Direct or indirect interest

Direct and 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

28 May 2021

No. of securities held prior to change

Direct

· 8,522,407 Ordinary Shares/CDIs

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

 

Indirect

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

· 17,423,689 Ordinary Shares/CDIs

· 8,000,000 Unlisted options exercisable at A$0.0095 expiring 8 July 2023

· 375,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022

 

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

· 8,425,000 ordinary Shares/CDIs

·375,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022

 

Held by MBB Trading Pty Ltd

·17,785,394 Ordinary Shares/CDIs

·1,000,000 Listed Options exercise price A$0.01 expiring 8 July 2023

·500,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022

 

Class

· Ordinary Shares or CDI's

· 1,000,000 Listed Options exercise price A$0.01 expiring 8 July 2023

Number acquired

1,000,000 Ordinary Shares/CDIs acquired by MBB Trading Pty Ltd, as a result of options exercised

Number disposed

1,000,000 Listed Options exercised by MBB Trading Pty Ltd (price A$0.01 expiring 8 July 2023)

Value/Consideration

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

 

1,000,000 Ordinary Shares/CDI's at an exercise price of $0.01 per Ordinary Share/CDI

No. of securities held after change

Direct

· 8,522,407 Ordinary Shares/CDIs

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

 

Indirect

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

· 17,423,689 Ordinary Shares/CDIs

· 8,000,000 Unlisted options exercisable at A$0.0095 expiring 8 July 2023

· 375,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022

 

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

· 8,425,000 ordinary Shares/CDIs

·375,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022

 

Held by MBB Trading Pty Ltd

· 18,785,394 Ordinary Shares/CDIs

·500,000 Unlisted optionsexercise price £0.01 expiring 23 October 2022

 

Nature of change

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

1,000,000 Ordinary Shares/CDI's issued as a result of options exercised, at an exercise price of $0.01 per Ordinary Share/CDI

 

Part 2 - Change of director's interests in contracts

 

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

 

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 an 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

 

 

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them

 

 

 

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