8 October
2024
Thor
Energy PLC
("Thor"
or the "Company")
Appointment of Executive
Chairman, Managing Director Retirement
Thor Energy plc ("Thor") (AIM,
ASX: THR, OTCQB: THORF) is pleased to announce that Alastair
Clayton, currently serving as Non-Executive Chairman, will
transition to the role of Executive Chairman with immediate effect.
This move is aimed at strengthening the executive capabilities of
the Board and driving the corporate strategy of the Company. In
addition, Nicole Galloway Warland has decided to retire from the
Board with immediate effect. Pleasingly, Nicole has agreed to
remain as a consultant to the Company for the foreseeable future to
help execute the current drill programme at our Colorado Uranium
Projects in the United States, as well as oversee our other
projects in South Australia.
Alastair Clayton, Executive
Chairman commented:
"I would like to sincerely thank
Nicole for all her hard work over the last few years in executing
the Company's investment strategy across our portfolio. It has been
a pleasure to work with Nicole and I am very grateful to her for
agreeing to assist with our upcoming work programme in the US. I
look forward to updating shareholders with my vision for the
Company in the near future."
It should be noted that Mr Clayton
has agreed to accrue all directors' fees for a minimum period of
six months. This arrangement will be reviewed and extended by
mutual consent thereafter.
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: +61 (8) 7324 1935
Zeus Capital Limited (Nominated Adviser and Joint
Broker)
Antonio Bossi / Darshan Patel /
Isaac Hooper
Tel: +44 (0) 203 829
5000
SI
Capital Limited (Joint Broker)
Nick Emerson
Tel: +44 (0) 1483 413 500
Yellow Jersey (Financial PR)
Dom Barretto / Shivantha Thambirajah
/ Bessie Elliot
thor@yellowjerseypr.com
Tel: +44 (0) 20 3004 9512
About Thor Energy Plc
The Company is predominantly focused
on uranium and energy metals that are crucial in the shift to a
'green' energy economy. Thor has several highly prospective
projects that give shareholders exposure to uranium, vanadium,
copper, tungsten, lithium, nickel and gold, located in the
favourable mining jurisdictions of Australia and the
USA.
Thor holds 100% interest in three
uranium and vanadium projects (Wedding Bell, Radium Mountain and
Vanadium King) in the Uravan Belt region of Colorado and Utah, with
historical high-grade uranium and vanadium drilling and production
results.
At Alford East in South Australia,
Thor has earnt an 80% interest in oxide copper deposits considered
amenable to extraction via In-Situ Recovery techniques (ISR). In
January 2021, Thor announced an Inferred Mineral Resource
Estimate.
Thor also holds a 26.3% interest in
a private Australian copper development company EnviroCopper
Limited (ECL), which Kapunda copper mine and the Alford West copper
project, both situated in South Australia, and both considered
amenable to recovery by way of ISR. Alligator Energy recently
invested A$0.9M for a 7.8% interest in ECL with the rights to gain
a 50.1% interest by investing a further A$10.1m over four
years.
Thor holds 75% interest (with
Investigator Resources 25%) of the advanced Molyhil tungsten
project, including measured, indicated and inferred resources, in
the Northern Territory of Australia, which was awarded Major
Project Status by the Northern Territory government in July
2020.
Thor owns 100% of the Ragged Range
Project, comprising 92 km2 of exploration licences
with highly encouraging early-stage gold and nickel results in the
Pilbara region of Western Australia.
For further information on Thor
Energy and to see an overview of its projects, please visit the
Company's website at https://thorenergyplc.com/.