Thor Mining (ASX: THR, LON: THR) has raised UK£410,000 from the placement of around 30.6 million shares at £0.0134 - equating to a funding injection of A$612,000.
The placement is expected to be finalised by the end of this week, and was conducted within the company's 15% placement capacity.
Thor said funds will be used to fund gold exploration at Dundas in Western Australia and Spring Hill in the Northern Territory.
The capital injection will also help progress the Molyhil Tungsten Molybdenum project in northern Australia, where drilling and importantly an update to the 2007 Feasibility Study are in progress.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/18260/thor-mining-in-a612000-placement-for-gold-exploration-at-dundas-and-spring-hill-18260.html