Business
Strategic Placement
Strategic Placement.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2750I\n Thor Mining PLC\n 11 August 2021\n \n \n \n \n 11 August 2021\n \n \n THOR MINING PLC\n \n \n STRATEGIC PLACEMENT\n \n \n The directors of Thor Mining Plc (\"Thor\" or the \"Company\") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce a private placement financing of UK£800,000, to fund exploration activities at the Company's project interests, with particular emphasis on the Ragged Range gold and nickel prospects in the Pilbara, Western Australia.\n \n \n \n \n \n Highlights:\n \n \n · \n The Company has raised gross proceeds of £800,000 via the placing of 123,076,923 new ordinary shares of 0.01p each (\"Ordinary Shares\") (the \"Placing Shares\") at a price of 0.65 pence per Ordinary Share (the \"Placing\")\n \n \n · \n Strong support was received from existing and new shareholders, adding strength to the Company's share register. Existing shareholder, Artemis Resources Limited (ASX:ARV), a company with major gold exploration and development projects in Western Australia's Pilbara, of which Thor director Mark Potter is Non-Executive Chairman, has invested £118,850 in the private placement\n \n · \n All placees to receive, one warrant for each two Placing Shares, to subscribe for a further new Ordinary Share at UK 1.3 pence per Ordinary Share (\"Warrant\"), valid for two years from the date of issue.\n \n \n · \n The Placing will not be subject to shareholder approval, falling within the Company's existing shareholder authorities and placement capacity.\n \n \n · \n Funds raised to be utilised for exploration activities at the Ragged Range gold & nickel project in the Pilbara region of Western Australia, and for exploration drilling at Molyhil tungsten and molybdenum project in the Northern Territory, as well as for general working capital purposes.\n \n \n \n \n \n Nicole Galloway Warland, Managing Director of Thor Mining, commented:\n \n \n \"This additional capital for Thor Mining will allow us to continue the intensive exploration work program at our exciting Ragged Range gold & nickel project, including RC drilling of priority drill targets, as well as exploration drilling at Molyhil tungsten-molybdenum Project.\n \n \n \n We are very pleased to have ongoing support from the Company's shareholders Artemis R...