Thor Mining

Thor Energy has received the first of three deferred annual payments of AUD 1.3m from the sale of its interest in the Molyhil project to Tivan. The payment represents Thor’s 75% share and was made 50% in cash and 50% in Tivan shares, half of which are subject to a voluntary six‑month escrow. Unaudited cash holdings rise to AUD 2.95m; Thor’s total proceeds from the sale are estimated at AUD 6.56m, with further AUD 1.3m payments planned for September 2027 and 2028. The funds will be used to finance exploration and development activities for natural hydrogen, helium, gas storage, and copper and critical minerals projects in South Australia, including a 2D seismic survey planned for Q4 2026. » Mere på de.investing.com

Thor Energy reported that the phase 2 soil gas survey in the HY‑Range project in South Australia detected natural hydrogen concentrations of up to 3% (30,000 ppm), about 60,000 times the atmospheric background. The survey confirmed three previously identified exploration focus areas (Mallala, Lochiel, Crystal) and showed higher readings than in phase 1, attributed to improved sampling technique and seasonal effects. The company plans a fully funded 2D seismic acquisition program over the licence area to further delineate the targets. » Mere på de.investing.com

Thor Energy has completed the three-month geochemical phase-2 investigation of the HY‑Range project in South Australia on schedule and on budget. The company holds an 80.2% interest in the licence and, together with SGS, developed sampling methods to prevent anthropogenic contamination. Preliminary data are currently being analysed; results are expected to be released in the coming weeks. Thor Energy is also in the final stage of the tender for a 2D seismic survey, which is intended to prepare exploration drilling later this year. » Mere på de.investing.com