Highlights

  • Thor Energy advances hydrogen and helium exploration at HY-Range Project in South Australia.
  • Company completes major asset sales, enhancing financial flexibility through non-dilutive funding.
  • Cash balance rises to AUD 1.6M at quarter-end, with further inflows expected.

Thor Energy PLC (LSE:THR)reported its activities for the quarter ended September 30, 2025, highlighting a transformative period marked by strategic portfolio realignment and progress in natural hydrogen and helium exploration.

Andrew Hume, CEO and Managing Director of Thor Energy Plc, commented:

"This past quarter, covering July through September 2025, has been fundamentally transformative and strategically important for Thor Energy. We have successfully achieved several major corporate milestones, sharpening our focus entirely on high-potential natural hydrogen and helium exploration, while simultaneously strengthening our balance sheet through the strategic monetisation of legacy assets."

HY-Range Project Delivers Positive Results

Operationally, Thor’s flagship HY-Range Project (RSEL 802) in South Australia reported promising outcomes from a licence-wide geochemical survey. Analysis showed elevated hydrogen values exceeding 1,000ppm in multiple locations, reaching up to 3,000ppm at one sampling point. Elevated helium levels of up to 27ppm were also recorded, supporting the presence of a working helium system.

Based on these findings, the Company identified four key focus areas—Mallala, Locheil, Crystal, and Mt Lock—to guide future exploration and drill target selection.

Asset Sales Strengthen Balance Sheet

During the quarter, Thor executed significant transactions to streamline its portfolio. The Company completed the sale of a 75% interest in its U.S. uranium assets to Metals One PLC (AIM: MET1) for GBP 1.1M (approx. AUD 2.3M) in cash and shares. Metals One also obtained an option to acquire the remaining 25% interest within 12 months.

Additionally, Thor signed a binding term sheet with Tivan Limited (ASX: TVN) for the sale of its 75% interest in the Molyhil Tungsten-Molybdenum Project in the Northern Territory for total consideration of AUD 6.56M, payable through staged cash or share payments.

In the U.S., Thor’s subsidiary Standard Minerals entered into an agreement with DISA Technologies to process abandoned uranium mine waste using High-Pressure Slurry Ablation technology. Thor will receive a gross revenue share from any recovered minerals, with no capital or operating costs.

Equity Interest and Corporate Developments

Post-quarter, EnviroCopper Limited—of which Thor owns 24%—secured an AUD 3.5M investment from an international investor to support copper projects at Kapunda and Alford in South Australia.

During the period, Andrew Hume formally assumed the role of CEO and Managing Director, with Alastair Clayton resuming his position as Non-Executive Chairman.

Financial Overview

Thor reported net cash outflows of AUD 781,000 from operating and investing activities, including AUD 97,000 in exploration spending. Financing inflows of AUD 943,000 lifted the cash balance to AUD 1.6M at the end of September 2025. Payments to directors during the quarter totaled AUD 201,000.

The Company expects further cash inflows over the coming quarters upon completion of the Molyhil sale, supporting continued investment in its HY-Range hydrogen and helium exploration program.

Share Performance

THR’s shares trading at GBX 0.90 per share on 31 October 2025, Up by 12.11% from its previous close of GBX 0.80.