(Alliance News) – Thor Explorations Ltd on Thursday updated its plans to place its shares in London, with the gold miner set to enter London’s junior AIM market on June 22.
Thor Explorations is a West Africa-focused gold mining company with the flagship Segilola gold mine under construction in Nigeria. The company also owns an interest in early stage exploration assets in Senegal and is in the process of applying for a license in Burkina Faso.
After admission to AIM, the company is expected to have a market value of £ 127 million. It plans to list on June 22nd. He will not raise funds as part of the placement.
Canaccord Genuity Ltd is Thor’s appointed advisor and joint broker, along with Hannam & Partners as joint broker.
The company first announced plans to place the shares back in March as an additional listing to its listing on the TSX venture capital exchange in Canada. It plans to go through a London listing in the second quarter of 2021, it said at the time.
The company expects the dual listing to enhance its prestige, increase access to UK and European investors and provide additional liquidity for Thor shareholders.
The Segilola project, which is slated for first production in June, has a total probable reserves of 517,800 ounces at 4.02 grams per tonne of gold. The project has a net present value of US $ 311 million at a 5% discount rate.
Eric Cunha; [email protected]
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