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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.