Thor Energy PLC Research and Development Rebate and Fluorite Sale

RNS Number : 4826N

Thor Energy PLC

25 November 2024

 

25 November 2024

Thor Energy PLC

 

("Thor" or the "Company")

 

Research and Development Rebate Received and Fluorite Sale to yield A$408,000 (~£210,000)

 

Thor Energy PLC ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce that is now in receipt of payments from both a Research and Development tax incentive scheme and notes a partial licence sale from the new Molyhil Joint Venture that entitles the Company to short term and longer-term cash payments of up to A$408,000 (£210,000).

The Research and Development Tax Incentive (R&D Tax Incentive or R&DTI) helps companies innovate and grow by offsetting some of the costs of eligible research and development (R&D). The Company has received a cash rebate pertaining to the innovative exploration being undertaken at the Alford East Oxide Copper project for a total of A$208,000 (~£107,000).

Furthermore, the Company notes the joint announcements on the ASX (see links below) on the 21^st of November 2024 in which Investigator Resources Limited (ASX:IVR), who are earning an 80% interest in the Molyhil Project and Tivan (ASX:TVN), has agreed to sell certain Fluorite rights on the Molyhil JV licence package, the result of which entitles Thor to cash payments totalling A$200,000 (~£103,000) including half of that sum upfront on signing (occurred) and licence transfer (near term).

Alastair Clayton, Executive Chairman, commented: "I am always pleased to report on cash amounts of all sizes, being inbound to the Company. Not only does this improve funds available for exploration but it helps reduce shareholder dilution going forward. Should they conclude, I look forward to updating shareholders on several more potentially cash-generative initiatives currently in contemplation."

Links to ASX announcements;

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02883508-2A1563294

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02883507-6A1238686

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: [phone]

 

Zeus Capital Limited (Nominated Adviser and Joint Broker)

Antonio Bossi / Darshan Patel / Isaac Hooper

Tel: [phone]

 

SI Capital Limited (Joint Broker)

Nick Emerson

Tel: [phone]

 

Yellow Jersey (Financial PR)

Dom Barretto / Shivantha Thambirajah / Bessie Elliot

[e-mail]

Tel: [phone]

 

About Thor Energy PLC

The Company is focused on uranium, energy metals and recently Hydrogen and Helium that are crucial in the shift to a clean energy economy.

For further information on Thor Energy and to see an overview of its projects, please visit the Company's website at https://thorenergyplc.com/.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

MSCFLFVDLDLSFIS