16th Jun 2015 07:54
LONDON (Alliance News) - Thor Mining PLC said Tuesday it has raised GBP525,000 through the placing of 1.05 billion shares at 0.05 pence each, which it plans to use to progress its Spring Hill gold project in Australia.
Subscribers for shares in the placing also have been granted one warrant for every two shares to subscribe for further shares at a price of 0.075 pence per share, valid for a year.
Shares in the company are trading down 33% at 0.0600 pence Tuesday morning.
Thor Mining is in the process of buying up the stake in Spring Hill it does not already own from WDR Gold Pty Ltd, a subsidiary of Western Desert Resources, after it went into liquidation. If approved by authorities, Thor will own 100% of the project.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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