18th May 2018 12:10
LONDON (Alliance News) - Thor Mining said on Friday it will hold its general meeting on June 7 to propose granting directors the authority to issues shares to help fund the acquisition of Australian copper and tungsten assets from Rox Resources Ltd.
At the end of March, Thor said it is to buy an interest in tenements hosting outcropping tungsten deposits in the Bonya Creek area - along with a high grade copper deposit - approximately 30 kilometres from the Molyhil mine in Australia's Northern Territory.
Thor will issue AUD550,000 worth of shares to Rox for which they will acquire: a 40% interest in the licence which hosts 13 outcropping tungsten deposits and one copper deposit; and a 100% interest in a licence considered prospective for copper exploration.
Shares in Thor Mining were down 3.5% at 2.05 pence on Friday.
Related Shares:
Thor Energy