27th Apr 2015 07:26
LONDON (Alliance News) - Thor Mining PLC Monday said it has noted the recent increase in trading volumes in the company's shares and "bulletin board speculation", but said it is unaware of any reason for the rise, adding it has not held any talks regarding the Molyhil project in Indonesia.
On Monday morning, Thor shares dropped 24.6% to 0.0603.00 pence per share, after they rose strongly on Friday in heavier-than-normal volumes.
"The board confirms that they are not aware of any reason for the increase in trading volumes and specifically confirm that the company has not held any discussions regarding the Molyhil project in Indonesia nor have publicly made any comments to this effect," it said.
However, the company admitted there are several companies "reviewing the Molyhil project", but said none are guaranteed to lead to a deal.
"The directors are hopeful that a financing arrangement will be achieved in the near term and any financing will be announced to the market if and when it occurs," said Thor.
In March, Thor appointed London-based Grant Thornton UK LLP Corporate Finance and Brookville Capital Ltd and its Australian associate Grand Private Equities Pty Ltd as corporate advisers to secure project finance for Molyhil.
By Joshua Warner; [email protected]; @JoshAlliance
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