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Thor Energy plc announced that trading in its shares on the Australian Securities Exchange (ASX) was halted, effective from Monday 28 October 2024. This halt was requested by the Company to finalize a binding acquisition agreement, as noted in its 25 October 2024 announcement. The trading halt will remain in place until the earlier of the commencement of trading on Wednesday 30 October 2024 or the release of an announcement by the Company regarding the acquisition.
| Date | 28 Oct 2024 |
| Time | 07:15:00 |
| Category | Corporate updates |
| ID | 8361J |
28 October 2024
Thor Energy plc
("Thor" or the "Company")
ASX Trading Halt
The Directors of Thor Energy plc advise that trading in the shares of the Company have been halted on the Australian Securities Exchange ("ASX") effective from Monday 28 October 2024, in accordance with ASX Listing Rules.
As noted in the Company's announcement on 25 October 2024, this trading halt was requested by the Company whilst it is in the process of finalising a binding acquisition agreement.
The ASX trading halt will remain in place until the earlier of the commencement of trading on Wednesday 30 October 2024 or the release of an announcement by the Company in relation to the acquisition.
The Board of Thor Energy PLC has approved this announcement and authorised its release.
For further information on the Company, please visit the website or please contact the following:
Thor Energy PLC
Alastair Clayton, Executive Chairman
Ray Ridge, CFO / Company Secretary
Tel: +61 (8) 7324 1935
Zeus Capital Limited (Nominated Adviser and Joint Broker)
Antonio Bossi / Darshan Patel / Isaac Hooper
Tel: +44 (0) 203 829 5000
SI Capital Limited (Joint Broker)
Nick Emerson
Tel: +44 (0) 1483 413 500
Yellow Jersey (Financial PR)
Dom Barretto / Shivantha Thambirajah / Bessie Elliot
Tel: +44 (0) 20 3004 9512
About Thor Energy Plc
The Company is predominantly focused on uranium and energy metals that are crucial in the shift to a 'clean' energy economy. Thor has several highly prospective projects that give shareholders exposure to uranium, vanadium, copper, tungsten, lithium, nickel and gold, located in the favourable mining jurisdictions of Australia and the USA.
Thor holds 100% interest in three uranium and vanadium projects (Wedding Bell, Radium Mountain and Vanadium King) in the Uravan Belt region of Colorado and Utah, with historical high-grade uranium and vanadium drilling and production results.
At Alford East in South Australia, Thor has earnt an 80% interest in oxide copper deposits considered amenable to extraction via In-Situ Recovery techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate.
Thor also holds a 26.3% interest in a private Australian copper development company EnviroCopper Limited (ECL), which Kapunda copper mine and the Alford West copper project, both situated in South Australia, and both considered amenable to recovery by way of ISR. Alligator Energy recently invested A$0.9M for a 7.8% interest in ECL with the rights to gain a 50.1% interest by investing a further A$10.1m over four years.
Thor holds 75% interest (with Investigator Resources 25%) of the advanced Molyhil tungsten project, including measured, indicated and inferred resources, in the Northern Territory of Australia, which was awarded Major Project Status by the Northern Territory government in July 2020.
Thor owns 100% of the Ragged Range Project, comprising 92 km2 of exploration licences with highly encouraging early-stage gold and nickel results in the Pilbara region of Western Australia.
For further information on Thor Energy and to see an overview of its projects, please visit the Company's website at https://thorenergyplc.com/.