Thor Mining Share Placement

Mineweb reports Thor Mining PLC (LON:THR,ASX:THRO) raised UK£410,000 by placing a total of 30,597,018 shares to UK clients.

The company news is quoted as saying,

Completion of the placement and receipt of funds is expected to be finalized by 5^thAugust 2011.The placement utilises portion of the available 15% capacity of the Company’s issued capital prior to the placement pursuant to ASX Listing Rule 7.1.  Following the allotment of these shares Thor Mining PLC will have 601,512,950 shares on issue.

Thor’s Executive Chairman, Mike Billing says,

The new capital will further fund exploration at the Dundas (WA) and Spring Hill (NT) gold projects, and also the Molyhil Tungsten/Molybdenum Project (NT), where drilling and an update to the 2007 feasibility study are both in progress.

For the complete company news, click here.