22nd Jan 2016 09:01
LONDON (Alliance News) - Thor Mining PLC on Friday said its AUD3.5 million deal to sell its interests in two gold projects in Australia has progressed, though the Dundas project will no longer be part of the deal.
Thor said PC Gold Pty Ltd, which will acquire the licences, is now close to securing the necessary financing for the purchase, after the private equity fund which will provide the financing completed its due diligence.
The financing offer is expected to become unconditional late next week, Thor said.
Thor added, however, that the Dundas gold project will no longer be part of the deal, with PC Gold only acquiring the Spring Hill project. The purchase price, however, remains the same.
Shares in Thor were down 8.4% to 0.03 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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