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
21st 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: +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 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/.