Dual-listed Thor Mining has acquired two Australian private companies, adding gold and uranium to its portfolio in that country, which already includes the Molyhill tungsten/molybdenum and Kapunda copper projects.
Thor will acquire Pilbara Goldfields (PGL) and Hamersley Metals (HML), which together hold interests in two granted licences and seven licence applications at various stages of advancement in the Pilbara region of Western Australia and the Northern Territory.
The total consideration for the acquisition of PGL and HML is £450 500 payable through the issue of 53-million new shares.
The acquisitions comes as Thor has advanced the Molyhill project to mine construction ready status and is currently engaging in a commercialisation process to secure project level finance for the mine construction phase.
Meanwhile, Thor also announced that it had raised £400 000 through the issue of new shares at 0.85p each and that it would look for a new external board member.
Creamer Media Senior Researcher and Deputy Editor Online