REG - Thor Energy PLC - Directorate Change

Thor EnergyAnnouncement

16/05/2024 07:00

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RNS Number : 5357O  Thor Energy PLC  16 May 2024

16 May 2024

Thor Energy plc

("Thor" or the "Company")

Directorate change

 

The directors of Thor Energy Plc ("Thor") (AIM, ASX: THR, OTC: THORF) are
pleased to announce the appointment of Mr Timothy Armstrong as Non-Executive
Director with immediate effect.

Tim is currently an Institutional financial advisor at Prenzler Group, a
Sydney based boutique advisory firm with an extensive institutional network
across the broking and investment banking industries in Australia and
abroad.  He previously worked in financial PR in Australia and London, which
entailed advising numerous listed and private companies on their corporate
strategies predominantly in the resources sector. Tim is also a former
professional sports person, spending five years as a first-class cricketer
representing NSW, WA and Australia. He is currently Non-Executive Director at
Cooper Metals Limited (ASX:CPM).

Nicole Galloway Warland, Managing Director of Thor Energy, commented:

"We are pleased to announce the appointment of Tim as a Non-Executive Director
of Thor.  His financial experience and extensive institutional network will
strengthen Thor's Board, and I look forward to working with him as we continue
to progress our exciting uranium and copper portfolio in Australia and USA."

AIM disclosures:

The following information is disclosed relating to Mr Armstrong pursuant to
rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.

Mr Armstrong, aged 33 years, holds no shares in Thor Energy plc and is or has
been a director of the following companies during the five years preceding the
date of this announcement:

 

 Current directorships / partnerships  Past directorships / partnerships within the last five years
 COOPER METALS LIMITED                 BOSTON MINERALS PTY LTD

ARDMORE RESOURCES PTY LTD                   EVEREST METALS
CORPORATION LTD

KFA CONSORTIUM PTY LTD                             FATJACK PTY
LTD

TJA ASSETS PTY LTD
 OZ GOLD GROUP PTY LTD

TJA SUPER PTY LTD
 TSC EXPLORATION PTY LTD

TRAPSITE MINERALS PTY LTD

ANGLESEA HOLDINGS PTY LTD

This announcement was approved for release by the Board.

 Thor Energy PLC
 Nicole Galloway Warland, Managing Director                     Tel: +61 (8) 7324 1935

 Ray Ridge, CFO & Company Secretary                       Tel: +61 (8) 7324 1935

 WH Ireland Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0) 207 220 1666
 Antonio Bossi / Darshan Patel / Isaac Hooper

 SI Capital Limited (Joint Broker)                        Tel: +44 (0) 1483 413 500

 

About Thor Energy Plc

The Company is focused on uranium and energy metals that are crucial in the
shift to a 'green' energy economy. Thor has a number of highly prospective
projects that give shareholders exposure to uranium, nickel, copper, lithium
and gold. Our projects are located in 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 Colorado and Utah, USA
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
Estimate¹. Thor also holds a 26.3% interest in Australian copper development
company EnviroCopper Limited, which in turn holds rights to earn up to a 75%
interest in the mineral rights and claims over the resource on the portion of
the historic Kapunda copper mine and the Alford West copper project, both
situated in South Australia, and both considered amenable to recovery by way
of ISR.²³

Thor holds 100% of the advanced Molyhil tungsten project, including measured,
indicated and inferred resources⁴, in the Northern Territory of Australia,
which was awarded Major Project Status by the Northern Territory government in
July 2020. Thor executed a $A8m Farm-in and Funding Agreement with
Investigator Resources Limited (ASX: IVR) to accelerate exploration at the
Molyhil Project on 24 November 2022.6

Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of
tungsten, copper, and vanadium, including Inferred resource estimates for the
Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.⁵
Thor's interest in the Bonya tenement EL29701 is planned to be divested as
part of the Farm-in and Funding agreement with Investigator Resources
Limited.6

Thor owns 100% of the Ragged Range Project, comprising 92 km2 of exploration
licences with highly encouraging early-stage gold, copper, lithium and nickel
results in the Pilbara region of Western Australia. Thor is now looking for a
JV partner or divestment of these group of tenements.

Notes

(1) https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/
(https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/)

(2) www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf)

(3) www.thorenergyplc.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(http://www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf)

(4) https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/
(https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/)

(5) www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf)

(6) https://thorenergyplc.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf
(https://thorenergyplc.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf)

 

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