Thor Mining PLC (AIM:THR) signed a non-binding Term Sheet to acquire E46/1340 and E46/1354 from Redstone Metals Pty Ltd. for AUD 0.76 million on November 23, 2020. Consideration comprise of 12.5 million ordinary shares in Thor, 8.333 million options to acquire Thor shares at AUD 3 cents, Thor to transfer 100% of its interest in E52/3679 and Net Smelter Royalty of 1% from production from each tenement area acquired. Upon three drill intercepts of, or equivalent to, 3 metres @ 2.0grams/tonne, Thor pay further consideration of AUD 250,000, as follows: 50% in Thor shares and 50% in cash. The parties have agreed, using reasonable commercial endeavours, to negotiate and execute a binding Sale and Purchase Agreement within 30 days of the execution of the Term Sheet for this transaction. Colin Aaronson of Grant Thornton Corporate Finance acted as financial adviser for Thor.