Thor Energy has agreed to sell its 75% interest in the FRAM joint venture to Tivan for a total consideration of AU$8.75 million, approximately £4.3 million. The JV includes the Molyhil tungsten and molybdenum project in the Northern Territory, an asset that no longer aligns with the company’s long-term intent. The deal sees Thor receive cash in five instalments over a period extending to late 2028, with an initial AU$1 million due shortly after final documentation.
Molyhil has long been a core part of Thor’s asset base, but the operational complexity and capital requirements tied to tungsten development no longer match the company’s direction. Tivan, which already operates in the region and holds adjacent tenements, appears better positioned to bring the project forward.
With Molyhil now carved out, Thor has greater optionality to concentrate on its hydrogen and helium initiative in South Australia, a project that has become central to its identity. The company is methodically re-aligning its balance sheet and operating priorities around natural hydrogen.
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.
