Thor Energy has strengthened its balance sheet and narrowed its focus towards natural hydrogen, helium and in-situ recovery copper.
The company completed the A$6.56 million sale of its Molyhil tungsten-molybdenum project, giving it more funding flexibility without adding immediate pressure from new equity raising. The sale matters because it frees capital for projects that management sees as better aligned with future energy and critical metals demand.
The main focus is now the HY-Range natural hydrogen project in South Australia. Thor has completed a three-month Phase 2 soil air geochemistry programme, which was delivered on budget. The work was designed to follow up earlier natural hydrogen and helium readings and help define the next exploration targets.
Results are expected in the next quarter. These will be important because natural hydrogen is still an early-stage market, and investors will want to see whether Thor can move from promising surface readings to clearer drill targets. The next steps are expected to include 2D seismic work and drill planning.
Thor has also added to its hydrogen position through new Otway Basin licence applications held in a 50:50 joint venture with H2EX. The area is supported by historic Robe-1 well data and is close to existing infrastructure and eastern Australian energy markets.
Thor Energy PLC (LON:THR) is a leading exploration company focused on natural hydrogen and helium, with a significant footprint in the highly prospective South Australian region.
