THORF - Thor Energy says strong support for A$1.3mln placement shows confidence in projects
(NewsDirect)
Thor Energy PLC managing director NicoleGalloway Warland joined Proactive's Stephen Gunnion with moredetails on a A$1.3 million share placing, targeted at investment inits uranium and copper projects in the United States and Australia.
Galloway Warland noted strongsupport from both existing and new shareholders, reflecting confidencein the company’s growth potential. The expanded shareholder base nowincludes new institutional investors. Additionally, company directors,including Galloway Warland and chairman Alastair Clayton, haveincreased their investments, contingent on shareholder approval,further demonstrating their belief in the company’s prospects.
The funds will primarily facilitate thenext stages of exploration and drilling at several key sites,including Wedding Bell at Radium Mountain and Vanadium King in the US,as well as advancing its copper assets in Australia. With uraniumprices currently favourable, the company sees this as an optimal timeto accelerate their projects, particularly given the increasedactivity in the uranium and vanadium sectors.
In Australia, the focus is on gainingapprovals for in-situ recovery methods and conducting pump testing toevaluate the environmental and cost implications, aligning with ESGprinciples.
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