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Thor Mining raises £750,000 to accelerate work on Australian portfolio

The company has extensive experience of exploration in Australia and elsewhere

Thor Mining PLC -

Thor Mining PLC (LON:THR) (ASX:THR) said it has raised £750,000 via the placing of just over 88mln shares at a price of 0.85p per share.

A London-based specialist resources investor will invest £600,000, while Artemis Resources Limited (ASX:ARV) will invest £150,000.

Artemis has gold exploration and development projects in Western Australia's Pilbara, and shares a director with Thor in Mark Potter.

Each placee will receive one warrant for each two placing shares.

"We are very pleased to have the support of a new London based specialist resource investor who has expressed an interest in the Thor portfolio, and welcome the further support from ASX-listed Artemis Resources Limited, who are actively exploring and developing projects in the Pilbara region, and recognise the potential of our Ragged Range Project," said Thor’s executive chairman Mick Billing in a statement.

"We look towards a very active period during the first half of 2021, with drilling news flow expected from Ragged Range gold, Kapunda and Alford East copper projects, and also uranium and vanadium prospects in the United States."

 

Quick facts: Thor Mining PLC

Price: 0.875 GBX

AIM:THR
Market: AIM
Market Cap: £14.2 m
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on 27/1/21

2 min read