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    THR   GB00BD0NBV71

THOR MINING PLC

(THR)
  Report
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Thor Mining : Notification of Major Interest in Shares

10/24/2020 | 03:35pm EDT

ASX Code: "THR"

14 October 2020

THOR MINING PLC

Registered Numbers:

United Kingdom 05276 414

Australia 121 117 673

Registered Office:

58 Galway Avenue

MARLESTON, SA, 5035

Australia

Ph: +61 8 7324 1935

Fx: +61 8 8351 5169

Email: corporate@thormining.com

Website:

www.thormining.com

Twitter @ThorMining

Enquiries:

Mick BillingExecutive Chairman Thor Mining PLC +61 8 7324 1935

Nominated Advisor Colin Aaronson Grant Thornton

+44 (0) 20 7383 5100

AIM & ASX Listings:

Shares: THR

Directors:

Michael Billing

Mark Potter

Mark McGeough

Richard Bradey

Key Projects:

  • Tungsten Molyhil NT
    Pilot Mountain USA
  • Copper Kapunda SA Moonta SA

NOTIFICATION OF MAJOR INTEREST IN SHARES

The Directors of Thor Mining PLC (AIM, ASX THR) ("Thor" or "Company") wish to advise of the receipt of a notification of a change in the holding of a substantial shareholder (Form TR-1, attached). The Form TR-1 has been released in the UK, under the AIM rules of the London Stock Exchange and Thor makes this equivalent announcement to the ASX.

Authorised for release by Ray Ridge, Company Secretary

For further information please contact

THOR MINING PLC

Ray Ridge, Company Secretary +61 8 7324 1935

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, and on the Company's twitter page @ThorMining.

About Thor Mining PLC

Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.

Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.

Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including an Inferred resource for the Bonya copper deposit².

Thor is also acquiring up to a 30% interest Australian copper development company EnviroCopper Limited, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource on the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery⁴, and also holds rights to earn a 75% interest in portion of the Moonta Copper project also in South Australia, and is considered amenable to recovery by way of in situ recovery⁵.

Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known deposits. The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.

Page | 1

ASX Code: "THR"

14 October 2020

The Company also has exciting gold interests at Ragged Range in the Pilbara region of Western Australia.

Notes

¹ Refer ASX and AIM announcement of 23 August 2018

² Refer ASX and AIM announcement of 26 November 2018

  • Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018 Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018
  • Refer ASX and AIM announcement of 15 August 2019

Page | 2

Commercial in confidence

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer andto the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer

of existing shares to which voting rights are at-

Thor Mining plc

tachedii:

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

Paul and Michelle Johnson

City and country of registered office (if applicable)

4. Full name of shareholder(s) (if different from 3.)v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or

8 October 2020

reachedvi:

6. Date on which issuer notified (DD/MM/YYYY):

12 October 2020

7. Total positions of person(s) subject to the notification obligation

% of voting rights at-

% of voting rights

Total number of

through financial instru-

Total of both in %

tached to shares (to-

voting rights of is-

ments

(8.A + 8.B)

tal of 8. A)

suervii

(total of 8.B 1 + 8.B 2)

Resulting situation

on the date on which

3.92%

3.92%

1,439,371,467

threshold was

crossed or reached

Position of previous

4.81%

4.81%

notification (if

applicable)

1

Commercial in confidence

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type of

Number of voting rightsix

% of voting rights

shares

Direct

Indirect

Direct

Indirect

ISIN code (if possible)

(Art 9 of Directive

(Art 10 of Directive

(Art 9 of Directive

(Art 10 of Directive

2004/109/EC) (DTR5.1)

2004/109/EC)

2004/109/EC) (DTR5.1)

2004/109/EC)

(DTR5.2.1)

(DTR5.2.1)

GB00BD0NBV71

Ordinary Shares

56,432,307

3.92%

SUBTOTAL 8. A

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Number of voting rights

Type of financial in-

Expiration

Exercise/

that may be acquired if

% of voting rights

strument

datex

Conversion Periodxi

the instrument is

exercised/converted.

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial

Expiration

Exercise/

Physical or

Number of

Conversion Pe-

cash

% of voting rights

instrument

datex

voting rights

riod xi

settlementxii

SUBTOTAL 8.B.2

2

Commercial in confidence

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not

X

control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

Fullchain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv

(please add additional rows as necessary)

% of voting rights if it

Namexvequals or is higher than the notifiable

threshold

  • of voting rights through financial in- struments if it equals or is higher than the notifiable threshold

Total of both if it

equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Place of completion

Farnborough, UK

Date of completion

12 October 2020

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Thor Mining plc published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2020 19:34:07 UTC


© Publicnow 2020
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Financials
Sales 2020 - - -
Net income 2020 -0,92 M -1,28 M -1,28 M
Net cash 2020 0,19 M 0,27 M 0,27 M
P/E ratio 2020 -3,28x
Yield 2020 -
Capitalization 17,1 M 23,8 M 23,8 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 7
Free-Float 61,5%
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Technical analysis trends THOR MINING PLC
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts 1
Average target price 2,60 GBX
Last Close Price 1,05 GBX
Spread / Highest target 148%
Spread / Average Target 148%
Spread / Lowest Target 148%
Managers and Directors
NameTitle
Nicole Marie Galloway Warland Managing Director & Director
Ray Ridge Chief Financial Officer & Co-Secretary
Michael Robert Billing Executive Chairman
Mark Roderick Potter Non-Executive Director
Mark McGeough Non-Executive Director
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