Thor Energy PLC Advances Acquisition in South Australian Hydrogen Industry
Key Ideas
- Thor Energy PLC progresses acquisition of Go Exploration in South Australia for natural hydrogen and helium exploration.
- The acquisition is highlighted for the potential of the granted PEL 120 licence and strategic applications in high hydrogen generation areas.
- Thor Energy PLC completes drill program in US uranium assets and streamlines its portfolio for efficiency.
- Cash reserves at A$2.24 million with additional investment in ASX-listed Investigator Resources as per quarterly update.
Thor Energy PLC's executive chairman, Alasdair Clayton, mentioned the ongoing efforts towards acquiring Go Exploration, focusing on the emerging South Australian natural hydrogen and helium exploration sector. The acquisition is deemed compelling due to the geological advantages of the Go portfolio and the promising PEL 120 licence's granted status. Additionally, strategic licence applications related to essential infrastructure are in progress, emphasizing high hydrogen generation potential in the targeted areas. Thor Energy PLC has recently completed a drill programme in its US uranium assets, alongside optimizing its portfolio. The company reported a cash balance of A$2.24 million by the end of December 2024, while also disclosing ownership of 2.5 million shares in ASX-listed Investigator Resources in its quarterly update.