REG - Thor Energy PLC - Notice of General Meeting

Thor EnergyAnnouncement

03/06/2024 07:15

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RNS Number : 8133Q  Thor Energy PLC  03 June 2024

3 June 2024

Thor Energy Plc

 

("Thor" or the "Company")

 

Notice of General Meeting

 

Thor Energy PLC ("Thor" or "the Company") (AIM, ASX: THR, OTCQB: THORF)
announces that it has today posted to shareholders a Notice of General Meeting
("GM") to be held on 20 June 2024 at 10 a.m. (British Summer Time) at the
offices of WH Ireland Limited, 24 Martin Lane, London, EC4R 0DR.

The purpose of the GM is to seek shareholder approvals relating to a
A$1,300,000 placement, comprising 100,000,000 Ordinary Shares at an issue
price of A$0.013 (1.3 cents) per Share, together with one attaching Option for
every two Ordinary Shares subscribed, as announced on 13 May 2024.  All
Options have an exercise price of A$0.026 (2.6 cents) and expire three years
following their issue date.  Each resolution is outlined further below:

·      Resolution 2 seeks shareholder approval to ratify, under ASX
Listing Rule 7.4, the issue of 35,991,508 Ordinary Shares that were previously
issued within the Company's placement capacity under ASX Listing Rule 7.1, on
or around 20 May 2024 to 27 May 2024.  The ratification under ASX Listing
Rule 7.4 has the effect of refreshing the Company's placement capacity under
ASX Listing Rule 7.1.

·      Resolution 3 seeks shareholder approval for the purposes of ASX
Listing Rule 7.1, to the issue and allotment of 55,316,184 Ordinary Shares
together with up to 27,658,092 Options.

·      Resolution 4 seeks shareholder approval, for the purposes of ASX
Listing Rule 7.1, to the issue of up to 17,995,754 Options on the basis of one
Option for every two placement shares issued on or around 20 May 2024 to 27
May 2024 (the subject matter of Resolution 2).

·      Resolution 5 seeks shareholder approval, for the purposes of ASX
Listing Rule 7.1, to the issue and allotment of up to 20,000,000 Options to
Prenzler Group Limited, as part consideration for services provided as lead
manager to the capital raising.

·      Resolutions 6 and 7, seek shareholder approval for the purposes
of ASX Listing Rule 10.11, for two of the Company's Directors (Mr Clayton and
Ms Galloway Warland) to participate, contributing a combined $113,000 to the
placement on the same terms as all other placees. ASX Listing Rules requires
shareholder approvals for the issue of these securities, as Directors are
considered a Related Party of the Company for ASX Listing Rule purposes.

·      Resolutions 1 and 8 provide the directors with appropriate
authorities to complete the placement of the above securities and dis-apply
pre-emption rights for existing shareholders.  Resolution 1 is a requirement
under English company law where the Company wishes to allot new relevant
securities.  Resolution 8 is a requirement under English company law where
the Company wishes to do so for cash without first offering those securities
on a pro rata basis to existing shareholders. Resolution 8 is a Special
Resolution.

If you are a registered holder of Thor's Ordinary Shares, whether or not you
are able to attend the meeting, you can use a form of proxy, enclosed in the
Notice of GM, to appoint one or more persons to attend and vote on a poll on
your behalf. A proxy need not be a member of the Company. Further details on
how to vote are included within the Notice of GM.

 

A copy of the Notice of GM will also be made available on the Company's
website at www.thorenergyplc.com (http://www.thorenergyplc.com) .

 

For further information, please contact:

 Thor Energy PLC

 Nicole Galloway Warland, Managing Director               Tel: +61 (8) 7324 1935

 Ray Ridge, CFO & Company Secretary                       Tel: +61 (8) 7324 1935

 WH Ireland Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0) 207 220 1666

 Antonio Bossi / Darshan Patel / Isaac Hooper

 SI Capital Limited (Joint Broker)                        Tel: +44 (0) 1483 413 500

 Nick Emerson

 Yellow Jersey (Financial PR)                             thor@yellowjerseypr.com

 Sarah Hollins / Shivantha Thambirajah / Bessie Elliot    Tel: +44 (0) 20 3004 9512

 

 

Updates on the Company's activities are regularly posted on Thor's website
https://thorenergyplc.com (https://thorenergyplc.com/) which includes a
facility to register to receive these updates by email, and on the Company's X
page @thorenergyplc

 

About Thor Energy Plc

The Company is focused on uranium and energy metals that are crucial in the
shift to a 'green' energy economy. Thor has a number of highly prospective
projects that give shareholders exposure to uranium, nickel, copper, lithium
and gold. Our projects are located in Australia and the USA.

Thor holds 100% interest in three uranium and vanadium projects (Wedding Bell,
Radium Mountain and Vanadium King) in the Uravan Belt in Colorado and Utah,
USA with historical high-grade uranium and vanadium drilling and production
results.

At Alford East in South Australia, Thor has earnt an 80% interest in oxide
copper deposits considered amenable to extraction via In Situ Recovery
techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource
Estimate¹.

Thor also holds a 26.3% interest in Australian copper development company
EnviroCopper Limited (ECL), which in turn holds rights to earn up to a 75%
interest in the mineral rights and claims over the resource on the portion of
the historic Kapunda copper mine and the Alford West copper project, both
situated in South Australia, and both considered amenable to recovery by way
of ISR.²³ Alligator Energy recently invested A$0.9M for a 7.8% interest in
ECL with the rights to gain a 50.1% interest by investing a further A$10.1m
over four years.

Thor holds 100% of the advanced Molyhil tungsten project, including measured,
indicated and inferred resources⁴, in the Northern Territory of Australia,
which was awarded Major Project Status by the Northern Territory government in
July 2020. Thor executed a A$8m Farm-in and Funding Agreement with
Investigator Resources Limited (ASX: IVR) to accelerate exploration at the
Molyhil Project on 24 November 2022.(6)

Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of
tungsten, copper, and vanadium, including Inferred resource estimates for the
Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.
⁵ Thor's interest in the Bonya tenement EL29701 is planned to be divested as
part of the Farm-in and Funding agreement with Investigator Resources
Limited.(6)

 

 

Thor owns 100% of the Ragged Range Project, comprising 92 km(2) of exploration
licences with highly encouraging early-stage gold and nickel results in the
Pilbara region of Western Australia.

 

Notes

(1)
https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/

(2)
www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf)

³
www.thorenergyplc.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(http://www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf)

(4)
https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/

(5)
www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf)

(6)
https://thorenergyplc.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf

The Company notes that for the relevant market announcements noted above, that
it is not aware of any new information or data that materially affects this
information and that all material assumptions and technical parameters
underpinning any estimates continue to apply and have not materially changed.

 

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