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Print[Ferro-Alloys.com] Thor Mining has raised about A$382,000 via an open offer to shareholders that received an uptake for over 40 million CDIs on the ASX and over 50 million shares to list on London's AIM exchange.
The CDIs were offered at $0.0067 each representing a discount of 16.25% to the closing market price of A$0.008 per CDI on 8 March 2013.
The non-underwritten capital raising was targeting funding its key tungsten and gold projects in the Northern Territory and Western Australia.
The company has planned regional exploration activities at the Molyhil Tungsten-Molybdenum Project in the Northern Territory to test for additional resources, which would supplement production and add to the life of the Molyhil Project.
It is also hoping to test for additional gold resources at Spring Hill Gold Project in NT and to increase its interest in the project to 80% by spending a further A$600,000 on exploration of the relevant tenements.
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