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.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24172/thor-mining-directors-billing-and-ashton-increase-shareholdings-24172.html