logo-loader
viewThor Mining PLC

Thor Mining makes progress in sale of Spring Hill gold royalty, in spite of coronavirus hurdles

Thor Mining has extensive exploration and development assets in Australia

Thor Mining PLC - Thor Mining makes progress in sale of Spring Hill gold royalty, in spite of coronavirus hurdles

Thor Mining PLC (LON:THR)(ASX:THR) said it has received indicated offers and has entered into an exclusivity agreement with regard to the sale of the royalty it holds in respect of the Spring Hill gold project in spite of the coronavirus pandemic.

The royalty entitlement comprises A$5.70 per ounce of gold produced from the Spring Hill tenements, where the gold produced is sold for up to A$1,500 per ounce, and A$13.30 per ounce of gold produced from the Spring Hill tenements, where the gold produced is sold for amounts over A$1,500 per ounce.

The gold is currently trading at around A$2,600 per ounce.

Because aspects of the due diligence process, in particular a site visit, have been delayed due to coronavirus travel restrictions, Thor has extended the timeframe for due diligence completion to April 30.

Quick facts: Thor Mining PLC

Price: 0.315 GBX

AIM:THR
Market: AIM
Market Cap: £3.39 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Thor Mining PLC named herein, including the promotion by the Company of Thor Mining PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Thor Mining PLC nearing a deal for its Spring Hill gold royalty

Thor Mining PLC's (LON:THR) Mick Billing caught up with Proactive London's Andrew Scott following the release of its half year report to December 2019. Billing recaps on main developments across its core portfolio of projects and says they're nearing a deal to sell their royalty on the Spring...

on 16/3/20

2 min read