The Board of Thor Mining Plc (“Thor”) (AIM, ASX:THR) is pleased to advise the execution of documents to acquire the balance of the Spring Hill Gold Project in Australia’s Northern Territory.
On 30 April 2015 Thor advised it had agreed terms to acquire the 49% equity interest in Spring Hill that it did not own from WDR Gold Pty Ltd, a subsidiary entity of Western Desert Resources Limited which is presently in Receivership/Liquidation – the previous equity holder of the gold project stake acquired by Thor. Formal documentation has now been agreed and executed by both parties.
The agreement is subject to ministerial assent, and approval from the Foreign Investment Review Board. Submissions for these reviews have been prepared, however it is expected that these approvals will take several weeks before completion can then occur.
For further information please download PDF attached: