26th Apr 2007 11:18
Thor Mining PLC26 April 2007 THOR MINING PLC HUNAN WITHDRAW FROM MOU Dated: 26 April 2007 Thor Mining PLC, AIM, ASX: "THR" ("the Company" or "Thor"), the specialistmetals company focused on advancing tungsten-molybdenum and uranium projects inthe Northern Territory of Australia, has today received written notificationfrom Hunan Nonferrous Metals Holding Group Co Ltd ("Hunan") that they will notparticipate in the development of the Molyhil Tungsten-Molybdenum Project ("Molyhil"). Hunan gave no indication of the reasons for their actions. Thisnotice effectively terminates the Memorandum of Understanding and theexclusivity agreement signed with Hunan in March this year. The Company has executed Confidentiality Agreements with several other partieswho have been awaiting a decision from Hunan before being able to proceed tofull due diligence. Thor will immediately accelerate discussions with theseparties and anticipates a fresh series of due diligence to commence shortly. The Company has requested a trading halt in its shares and warrants on theAustralian Stock Exchange (the "ASX") pending the release of this announcementon the ASX. The announcement will be released on the ASX prior to the start oftrading tomorrow, Friday 27 April 2007. Enquiries: John Young + 61 (0)419 954 020 Thor Mining PLC Chief Executive Officer John Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Leesa Peters 020 7429 6600 Conduit PR Limited Public Relations or Jos Simson 020 7429 6603 Nicolas Read + 61 (0) 8 9388 1474 Read Corporate Public Relations/ Australia Updates on the Company's activities are regularly posted on Thor's websitewww.thormining.com, which includes a facility to register to receive theseupdates by email. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Thor Energy