8th Aug 2006 10:06
Thor Mining PLC08 August 2006 THOR MINING PLC PROPOSED ASX LISTING, FUND RAISING AND ACQUISITION Dated: 8 August 2006 The Director's of Thor Mining PLC ("Thor" or the "Company"), the specialistmetals company currently focussed on advancing tungsten and molybdenum projectsin the Northern Territory of Australia, announced on 18 April 2006 its proposedlisting on the Australian Stock Exchange (the "ASX") and Initial Public Offeringin Australia. On 13 June 2006 Thor announced the proposed acquisition of HaleEnergy Limited ("Hale Energy") from Batavia Mining Limited ("Batavia"). HaleEnergy's assets comprise a portfolio of uranium exploration assets in theNorthern Territory of Australia. Thor has today lodged an Australian Prospectus outlining: a conditional Offer ofup to 52,500,000 Offer Shares at AUD 20 cents per New Share to raise up toAUD$10.5 million in Australia; the proposed dual listing of its shares on theASX; and the proposed acquisition of Hale Energy (the "Prospectus"). This Offerdoes not constitute an offer to sell, or a solicitation of an offer to buy,Shares or Warrants in the UK and the Prospectus is provided for information onlyin the UK. Patersons Securities Limited, an Australian stockbroker, hasconditionally agreed to underwrite AUD$10.0 million of the total fund raising. The funds raised will be used for the completion of the definitive feasibilitystudy of the Molyhil Tungsten - Molybdenum Project, for the exploration of theuranium projects detailed in the Prospectus and to pursue other opportunities toexpand the Company's portfolio of mineral assets. The Company will issue a circular to Shareholders together with a copy of theProspectus and the Annual Report and Accounts for the year to 30 June 2006 on 9August 2006. The circular and the Prospectus are for information only, toexplain the background to the proposal and the requirement for holding anExtraordinary General Meeting of the Company on 5 September 2006.The notice ofExtraordinary General Meeting seeks Shareholder approval for: the ASX listing;the acquisition of Hale Energy; the Share Consolidation required to effect theASX listing; Section 80 of the Companies Act 1985 approval; Section 95 of theCompanies Act 1985 approval; the granting of Warrants; and the granting ofOptions to Directors and employees. Admission to AIM Application for Admission will be made for the New Shares and the Warrants to beissued as a result of the proposals to be admitted to trading on AIM as soon aspracticable following the Record Date. It is expected that Admission will becomeeffective at 8.00am on 22 September 2006. Enquiries: John W Barr 00 61 418 912 885 Thor Mining PLC Executive ChairmanJohn Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated AdviserAbigail Singleton 020 7429 6606 Conduit PR Public Relations or 07739 461 061 The Prospectus, the Circular and the Annual Report and Accounts will beavailable on Thor's website www.thormining.com, which includes a facility toregister to receive regular updates by email. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Thor Energy