Thor Energy PLC (LSE:THR) has finalized a Sale and Purchase Agreement to sell a 75% stake in its US subsidiaries, which hold uranium and vanadium projects in Colorado and Utah, to Metals One PLC. The deal enables Thor to concentrate on its HY-Range natural hydrogen and helium project in South Australia, while retaining a 25% interest in the US projects and receiving Metals One shares, potentially providing substantial non-dilutive funding for future initiatives.
Thor Energy faces significant financial challenges, including a lack of revenue and liquidity constraints. Nonetheless, positive developments in the clean energy sector offer potential growth opportunities. The stock’s technical indicators remain bearish, and valuation metrics are negative, reflecting current investor caution.
About Thor Energy PLC
Thor Energy PLC is focused on hydrogen and helium exploration, critical resources in the transition to a clean energy economy. The company also maintains a portfolio of uranium and other energy metals projects.
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