Thor Energy plc (LON:THR, ASX: THR, OTCQB: THORF) has announced the receipt of the cash completion payment for A$2,250,000, pursuant to the term sheet executed with ASX-listed Tivan Limited (ASX: TVN) for the sale of the tenements and associated mining information comprising the FRAM Joint Venture, which holds the Molyhil Tungsten/ Molybdenum/ Copper Project in the Northern Territory, Australia as announced on 16 September 20251. Thor holds 75% of the FRAM JV via its subsidiary Molyhil Mining Proprietary Limited, with ASX-Listed Investigator Resources Limited (ASX: IVR) holding the remaining 25%.
Highlights:
· Conditions precedent to the sale of the Project have been met to the satisfaction of Tivan and the FRAM JV partners, triggering a cash payment to Thor of A$2,250,000.
· As outlined below, commencing in September 2026, three successive annual deferred completion payments totalling A$3,937,00 until September 2028, payable in cash, shares or a combination at Tivan’s election. This will bring the total sale proceeds to Thor of A$6,562,500.
| Estimated Date* | To Thor | |
| Cash Non-Refundable Exclusivity (60 days) | Received | $ 375,000 |
| Cash Completion Payment | Received | $ 2,250,000 |
| Initial Deferred Completion Payment | Sep-26 | $ 1,312,500 |
| Second Deferred Completion Payment | Sep-27 | $ 1,312,500 |
| Final Deferred Completion Payment | Sep-28 | $ 1,312,500 |
| $ 6,562,500 |
[1] RNS “Term Sheet to Sell FRAM Joint Venture (Thor 75%) to ASX-Listed Tivan Limited for A$8,750,000” – 16 September 2025
* All Estimated Dates are the Company’s best estimates and are subject to change.
· Significant, non-dilutionary boost to Thor’s cash position strengthens the Company’s position to advance its core HY-Range natural Hydrogen and Helium Project in South Australia.
· Also provides further financial resources to further progress the Company’s existing Alford East Copper-Gold portfolio in South Australia, with an announcement outlining this strategy to be released soon.
Alastair Clayton, Chairman, commented:
“We are exceptionally pleased to report that the conditions precedent have been met to trigger the payment of A$2,250,000 to Thor.
“For Thor shareholders, the monetisation of Molyhil has already led to a significant inflow of cash to the Company, and there will be three further annual payments of A$1,312,500 commencing from this September. This means more resources to advance Hy-Range and less dilution to achieve this.
“Furthermore, following the significant new external investment into our 20%-owned EnviroCopper Limited 2, a leading ISL Copper company, we now turn our attention to our 80% interest in the nearby Alford East Copper Portfolio, which we have chosen to retain. We look forward to updating shareholders on our 2026 plan for these assets soon.”
2 RNS “External Investment of A$3.5m into ECL & its Copper Projects” – 27 October 2025
