Thor Mining directors Billing and Ashton increase shareholdings
Thor Mining (LON:THR, ASX:THR) today revealed that directors Michael Billing and Michael Ashton have increased their stakes in the business following the exercise of options.
Between them the two directors exercised more than 4 million options, gaining new shares priced at 2.625 Australian cents each.
Chairman Billing exercised 2,040,816 options for a consideration of A$53,571.42 while non executive director Ashton exercised 2,050,000 options for a total of A$53,812.50.
Subsequently, including their previous holdings, the directors now hold 1.42 per cent and 2.12 per cent of the company's existing share capital.
Thor Mining owns an advanced tungsten/molybdenum project, called Molyhil, where the findings of a pivotal assessment are expected later in the current quarter. It also has precious and base metal exploration assets.
Earlier this month Thor revealed that a number of parties are interested in signing off-take agreements for the future tungsten and molybdenum production from Molyhil. These potential partners also made various proposals to provide alternative financing options for the project, it said.
Related news
- London Mining remains on track to hit 2012 production target at Marampa
- Ceres Power Holdings reports significant improvements of its fuel cell products
- Oxford Catalysts Group shares advance as it announces first start-up of FT reactor
- Mariana Resources kicks off drilling programme at Las Calandrias gold-silver project
- Orogen Gold begins Phase 1 drilling programme at Deli Jovan
- Magnolia Petroleum on track to hit 100 wells target by end-2012
- Mwana Africa sells 15pct stake in Freda Rebecca gold mine for $405k - UPDATE
