London-listed Thor Mining Plc has announced it se-cured a private placement financing of GBP 800,000 (US$1.1 million) to fund exploration activities at the firm’s project interests, with particular em-phasis on the Ragged Range gold and nickel prospects in Pilbara, West-ern Australia.
"This additional capital for Thor Mining will allow us to continue the inten-sive exploration work program at our exciting Ragged Range gold & nickel project, including RC drilling of priority drill targets, as well as exploration drilling at Molyhil tungsten-molybdenum Project,” said Nicole Galloway Warland, the managing director of Thor Mining.
The raised funds will be used for exploration activities at the Ragged Range gold and nickel project, but also for exploration drilling at Molyhil tungsten and molybdenum project in Australia’s Northern Territory, and for general working capital purposes, Thor Mining said.
“We are very pleased to have ongoing support from the Company's share-holders Artemis Resources Limited, and welcome new shareholders to our share register, who recognise the potential of our Ragged Range and Molyhil Projects,” the managing director said.