20th Jan 2009 07:00
THOR MINING PLC
Issue of Equity
Dated: 20 January 2009
Thor Mining PLC ("the Company" or "Thor"), AIM, ASX: THR the specialist metals company focused on advancing tungsten-molybdenum and uranium projects in the Northern Territory of Australia has issued a further 22,000,000 new ordinary shares of 0.3p each in the capital of the Company (the "Shares"), conditional on the Shares being admitted to trading on AIM. The shares will be issued at 1p per share and the funds raised are to supplement the Company's working capital and to provide cash for a small drilling program at the Molyhil Tungsten and Molybdenum Project ("Molyhil") targeting previously identified IP anomalies.
City Equities Limited has agreed to subscribe for 15,000,000 Shares at 1p per Share. Following the subscription, City Equities Limited will hold 15,000,000 Shares, which is approximately 8.75% of the issued share capital of the Company as enlarged by the placing.
Wills & Co Stockbrokers Limited has agreed to subscribe for 6,000,000 Shares at 1p per Share. Following the subscription, Wills & Co Stockbrokers Limited will hold 6,000,000 Shares, which is approximately 3.5% of the issued share capital of the Company as enlarged by the placing.
Following the issue of these Shares the Company's total issued share capital will be 171,470,949 ordinary shares of 0.3p each. Application has been made to the London Stock Exchange for the Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on Monday 26 January 2009.
Enquiries:
|
Mick Billing |
+ 61 (0)414 741 007 |
Thor Mining PLC |
Executive Chairman |
|
Damian Delaney |
+61 (0) 438 921 666 |
Thor Mining PLC |
Company Secretary |
|
John Simpson |
020 7489 4500 |
Blomfield Corporate Finance Ltd |
Nominated Adviser |
Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email.
Related Shares:
Thor Energy