Thor Energy plc (THR) said it has completed the sale of its 75% holding in the Molyhil tungsten‑molybdenum project to Tivan Limited, a move that delivered "significant cash inflows" and "obviated the need to raise capital", according to the filing.
Sale of the 75% Molyhil stake generated "significant cash inflows" and removed the need for an immediate capital raise, the company said.
The company signalled a strategic shift toward its HY‑Range natural hydrogen and helium project in South Australia. Field work "demonstrated the presence of working hydrogen and helium systems" and, the company added, "the program continues at pace with seismic planning nearing completion" ahead of planned seismic data acquisition in mid‑2026.
Thor is also simplifying its legacy portfolio through farm‑outs. It farmed down its US uranium interests to Metals One PLC while retaining a 25% interest free of holding and administration costs, the filing said. Separately, Thor agreed with DISA Technologies to assess a patented metals‑recovery process on mine waste across its acreage, which could yield future production payments and environmental benefits.
The filing noted the carrying value of the sold tenements was transferred to Assets Held for Sale as at 31 December 2025. Board changes were implemented during the period, with Andrew Hume appointed managing director and CEO and Alastair Clayton returning to a non‑executive chairman role.
The company confirmed contracted cash‑trail payments from the transaction will continue to 2028 and said it is not aware of any new information that would materially affect previous resource or reserve announcements, according to the filing.
The recap
• Sold 75% of Molyhil to Tivan Limited, generating significant cash inflows and avoiding an immediate capital raise.
• Retained 25% interest in US uranium projects after farm‑down to Metals One PLC, free of holding and administration costs.
• HY‑Range showed working hydrogen and helium systems; seismic acquisition planned for mid‑2026.
