- Thor Mining said it had signed a non-binding agreement to sell its its interest in the Kapunda project in Australia to a new copper-focused company, Enviro Copper.

Enviro Copper, of which Thor would own a 30% take, would seek a listing on a recognised securities exchange in the near term, Thor said.

It would hold earn-in rights for up to 75% of both the Kapunda and Moonta copper projects and aim to develop other opportunities, initially in South Australia state.

'The opportunity for eligible Thor Mining shareholders to have a priority investment opportunity in the new vehicle is seen as a core ingredient in the establishment and listing of this new entity,' chairman Mick Billing said.

At 1:58pm: [LON:THR] Thor Mining PLC share price was +0.15p at 1.18p

Story provided by