Thor Energy PLC secures A$1.3m deferred payment from Molyhil sale

Thor Energy PLC has received its first installment of A$1.3 million from the sale of its 75% stake in the Molyhil tungsten, molybdenum and copper project, part of the FRAM joint venture. The payment, representing the first of three annual deferred installments, was settled on September 16, 2025, with 50% paid in cash and 50% in Tivan Limited ordinary shares, the latter subject to a six-month voluntary escrow period. The company’s unaudited cash balance now stands at A$2.95 million after the transaction. Remaining deferred payments are due in September 2027 and 2028, each at A$1.3 million. The total consideration for the sale was A$8.75 million, with Thor retaining A$6.56 million of that amount. CEO Andrew Hume noted the funds will support exploration and development of South Australian projects in natural hydrogen, helium, gas storage, and critical minerals, including a planned 2D seismic survey in the fourth quarter of 2026.