Friday, 31 July 2015

THOR MINING PLC

Thor Mining PLC ("Thor" or the "Company")

The Directors of Thor Mining PLC (AIM, ASX: THR) today released the following announcement on the Australian Securities Exchange ("ASX") as required under the listing rules of the ASX.

Rule 5.3

Mining exploration entity quarterly report

Consolidated statement of cash flows

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities

Non-cash financing and investing activities

Financing facilities available

Add notes as necessary for an understanding of the position.

Estimated cash outflows for next quarter (Note 10)

Reconciliation of cash

Changes in interests in mining tenements

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

Compliance statement

1             This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

2             This statement does give a true and fair view of the matters disclosed.              

Sign here:            ...                       Date: 31/7/2015

(Company Secretary)

Print name:         Ray Ridge

Notes

1             The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position.  An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

2             The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period.  If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

3             Issued and quoted securities. The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.

4            The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

5             Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities.  If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

6            Proceeds are net of issue costs.  Proceeds include the Lanstead instalments received, net of the swap settlements.  Refer Section 2.1.

7             Ordinary securities comprise of:

Listed on London Stock Exchange (AIM)                             1,688,600,316

Listed on Australian Stock Exchange (ASX) - as CDIs        1,120,740,895

Listed on Australian Stock Exchange (ASX) - as CDIs 

Voluntary escrow until 29 October 2015                                                418,750,000

Total Ordinary Securities at 30 June 2014                                    3,228,091,211

8            Issues during the quarter comprise of:

Listed on London Stock Exchange (AIM)                               175,000,000

Listed on Australian Stock Exchange (ASX) - as CDI's                           0    

Listed on Australian Stock Exchange (ASX) - as CDIs 

Voluntary escrow until 29 October 2015                                                                 0

Total Ordinary Securities issued in the quarter                              175,000,000

9            During the quarter, the number of shares transferred

              From London Stock Exchange (AIM) to ASX as CDIs was:            23,000,000

10           Funds raised subsequent to 30 June 2015.

On 16 June 2015 the Company announced a placement of a total of 1,050,000,000 Shares together with 525,000,000 free attaching Warrants to placees, to raise a total of £525,000 (A$1,075,000) before expenses.  On 19 June 2015, the Company issued and allotted the first tranche of those securities, comprising 175,000,000 Shares together with 87,500,000 free attaching Warrants (Tranche 1 Securities).  The proceeds of £87,500 (A$180,000) from the Tranche 1 Securities is included in the reported cash flows for the quarter ended 30 June 2015.  The issue and allotment of the remaining 875,000,000 Shares and 437,500,000 free attaching Warrants (Tranche 2 Securities) was approved at a meeting of Shareholders on 23 July 2015.  The Tranche 2 Securities were issued on 24 July 2015, with proceeds of £437,500 (A$895,000).

Enquiries:

Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email.