Thor Energy PLC (ASX: THR) Announces A$408,000 Cash Inflows
Financial Highlights
Thor Energy PLC (ASX: THR) has announced the receipt of A$408,000 (~£210,000) resulting from a Research and Development tax rebate and a partial licence sale from the new Molyhil Joint Venture. The A$208,000 rebate is connected to eligible exploration activities at the Alford East Oxide Copper project, utilising the R&D Tax Incentive designed to support innovative projects.
Additionally, the Company will receive A$200,000 (~£103,000) related to the sale of Fluorite rights on the Molyhil JV package, including an upfront payment already received.
Executive Comments
Alastair Clayton, Executive Chairman of Thor, stated, “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.”
Company Overview
Thor Energy is focused on uranium, energy metals, and also explores Hydrogen and Helium, aligning with the shift towards a clean energy economy. The Company confirms that all material assumptions and technical parameters underlying previous estimates remain unchanged.
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