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Thor Energy Plc (ASX:THR)

ALERT: Price-sensitive ASX Announcement for THR
Current share price for THR : $0.009 -0.002 (-14.29%)+
Announcement
Release
19 Jan 2026 9:25AM
Price at Release
$0.011
Full Release
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Summary
Thor Energy Plc announced the receipt of a A$2,250,000 cash completion payment from ASX-listed Tivan Limited, marking a significant milestone in the sale of its 75% interest in the FRAM Joint Venture, which includes the Molyhil Tungsten/Molybdenum/Copper Project in Northern Territory, Australia. This transaction, following the fulfillment of all conditions precedent, enhances Thor's cash reserves significantly, enabling further investments in its core projects like the HY-Range Hydrogen and Helium Project and the Alford East Copper-Gold Project in South Australia. The total financial consideration for this sale will amount to A$6,562,500 by September 2028, distributed through a combination of cash and potentially shares, at Tivan's discretion. This deal strengthens Thor's financial position without diluting its equity, allowing for accelerated project development in line with its strategic objectives.
Key Points
  • Thor Energy receives A$2,250,000 completion payment from Tivan Limited.
  • Total sale proceeds from Molyhil Project expected to be A$6,562,500 by 2028.
  • Funds to support Thor's Hydrogen and Helium Project in South Australia.
  • Molyhil sale boosts Thor's cash position without equity dilution.
  • Deal involves potential share payment options from Tivan for deferred payments.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.