Business
US LITHIUM UPDATE
US LITHIUM UPDATE.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9780B Thor Mining PLC 16 January 2018 \n\n16 January 2018\nTHOR MINING PLC\nUS LITHIUM UPDATE\nThe Board of Thor Mining Plc (\"Thor\" or the \"Company\") (AIM, ASX: THR), is pleased to provide an update on the Company's interest in US Lithium Pty Ltd (\"US Lithium\"), which hold lithium exploration interests in Arizona in the USA. This follows receipt of advice from US Lithium outlining project progress and corporate activities.\nHighlights\n· A capital raise, issuing 2,000,000 shares @ A$0.12/share raising A$240,000 before expenses associated with the raise. This compares with the Thor acquisition of 2,500,000 shares @ US$0.03/share (approximately A$0.04/share). Thor equity has been diluted to a 20.83% interest in US Lithium.\n· Commencement of activities associated with preparation to list on ASX in Australia.\n· Additional claims have been lodged to the south of the Big Sandy project in Arizona, to approximately double the area of the project.\n· Recent field exploration work including additional auger drilling and site mapping. Assay results are pending from this auger drilling.\n· The appointment of MDS of California, USA to complete first stage metallurgical test work. MDS are reported to have considerable experience with lithium processing from clay based projects.\n \nMick Billing, Executive Chairman, commented:\n\"US Lithium has made very positive progress in recent months, and we welcome the additional investment at a substantial premium to the original Thor investment.\"\n\"The market for lithium continues to grow, and quality assets will be rewarded. We look forward to a successful listing of US Lithium on ASX in due course.\"\n\"We look forward to updating investors further as news becomes available.\"\n \nEnquiries:\n\n\n\n\nMick Billing\n\n\n+61 (8) 7324 1935\n\n\nThor Mining PLC\n\n\nExecutive Chairman\n\n\n\n\nRay Ridge\n\n\n+61 (8) 7324 1935\n \n\n\nThor Mining PLC\n\n\nCFO/Company\nSecretary\n\n\n\n\nColin Aaronson/\nRichard Tonthat\n \n\n\n+44 (0) 207 383 5100\n \n\n\nGrant Thornton UK LLP\n \n\n\nNominated Adviser\n\n\n\n\nNick Emerson\n \n\n\n+44 (0) 1483 413 500\n\n\nSI Capital Ltd\n\n\nBroker\n\n\n\n\nTim Blythe/ Camilla Horsfall\n\n\n+44 (0) 207 138 322...