Thor Mining PLC (LON:THR) said it will issue more than 14.5mln shares to raise funds for its A$550,000 acquisition of tenements acquired from Rox Resources Limited.
Last month the miner received ministerial approval for its acquisition of interests in the tungsten, copper, and vanadium hosted Bonya tenements next to its Molyhil project in the Northern Territory of Australia.
READ: Thor Mining receives approval for acquisition of Bonya licences
It is buying a 40% interest in the EL29701 exploration license at the site, which hosts 13 outcropping tungsten deposits, from Rox Resources in addition to a 100% interest in EL29599 which is considered prospective for copper mineralisation.