Thor Energy has received A$1.3125 million from Tivan Limited as the first annual deferred payment from the sale of its 75% interest in the Molyhil tungsten, molybdenum and copper project.
The payment lifts Thor’s unaudited cash position to approximately A$2.95 million and gives the company additional funding for exploration in South Australia. The A$1.3125 million payment was split equally between cash and Tivan shares. Half of the share component is subject to a six-month voluntary escrow period.
Thor’s total consideration from the Molyhil sale is A$6.5625 million. The company previously received a A$375,000 exclusivity deposit in September 2025 and A$2.25 million on completion in December 2025.
Including the latest payment, Thor has now received A$3.9375 million. Two further payments of A$1.3125 million are scheduled for September 2027 and September 2028.
The staged payment structure gives Thor a defined source of additional capital over the next two years while it focuses spending on its South Australian exploration portfolio.
A major near-term priority is the HY-Range natural hydrogen and helium project. Thor plans to carry out a 2D seismic survey during the fourth quarter of 2026, with the programme intended to improve the definition of potential drilling targets.
The company is also assessing underground storage opportunities near HY-Range, including potential natural gas storage and carbon sequestration applications.
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.
