Thor Energy PLC (LSE:THR) has reached an agreement to sell a 75% stake in its U.S.-based uranium and vanadium projects to Metals One PLC. The transaction, valued at £100,000 in cash and £1,000,000 in Metals One equity, allows Thor to retain a 25% interest while unlocking a potential funding source for its HY-Range hydrogen and helium exploration project. By bringing in Metals One’s operational expertise, Thor aims to streamline its portfolio and focus more intensively on clean energy initiatives.
This deal marks a strategic pivot for Thor as it seeks non-dilutive financing options amid ongoing financial headwinds. The company continues to face significant challenges, including a lack of revenue and constrained liquidity. Nevertheless, its participation in the growing hydrogen and helium sectors offers long-term promise, even as technical and valuation indicators remain weak in the near term.
About Thor Energy PLC
Thor Energy PLC is a resource exploration company targeting key elements in the clean energy transition. Its core focus is on hydrogen and helium exploration, while its broader portfolio includes uranium and other energy-related metals. The company’s strategy aims to align with global moves toward low-carbon energy sources and sustainable resource development.
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