20 June 2024
Thor Energy PLC
("Thor" or the "Company")
Result of General Meeting and Total Voting Right
The directors of Thor Energy Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) announce that at the General Meeting ("GM") held earlier today, all resolutions were passed.
All resolutions were passed, with the poll results as follows:
| Resolution | For | Against | Withheld |
| 1 | 17,212,830 | 1,144,320 | 4,092,996 |
| 2 | 16,535,314 | 1,244,320 | 4,093,036 |
| 3 | 16,326,656 | 1,696,386 | 4,102,104 |
| 4 | 16,074,220 | 1,696,346 | 4,102,104 |
| 5 | 16,651,696 | 5,513,349 | 285,101 |
| 6 | 16,275,150 | 5,564,855 | 610,141 |
| 7 | 16,600,190 | 3,064,855 | 2,785,101 |
| 8 | 16,602,422 | 1,444,620 | 4,403,104 |
Admission and Total Voting Rights
Following the General Meeting, the Company will allot and issue 64,008,492 Conditional Placing Shares and 70,000,000 unlisted warrants (termed options in Australia).
Application has been made to the London Stock Exchange for admission of the Conditional Placing Shares to trading on AIM. It is expected that Admission will become effective and dealings in the Conditional Placing Shares are expected to commence on AIM at 8.00 a.m. on 26 June 2024. The Conditional Placing Shares will rank pari passu in all respects with existing ordinary shares.
Following Second Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 378,610,068 with voting rights. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to the Company's Constitution.
Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Company's announcement made on 13 May 2024, unless the context requires otherwise.
The Managing Director of Thor Energy PLC has approved this announcement and authorised its release.
For further information, please contact:
| · Thor Energy PLC · Nicole Galloway Warland, Managing Director · Ray Ridge, CFO / Company Secretary | · Tel: +61 (8) 7324 1935 Tel: +61 (8) 7324 1935 · |
| · WH Ireland Limited · (Nominated Adviser and Joint Broker) · Antonio Bossi / Darshan Patel / Isaac Hooper | Tel: +44 (0) 207 220 1666 |
| · SI Capital Limited · (Joint Broker) · Nick Emerson | Tel: +44 (0) 1483 413 500 |
| · Yellow Jersey · (Financial PR) · Sarah Hollins / Shivantha Thambirajah / Bessie Elliot | thor@yellowjerseypr.com |
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 in 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 (ECL), 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 Alligator Energy recently invested A$0.9M for a 7.8% interest in ECL with the rights to gain a 50.1% interest by investing a further A$10.1m over four years.
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 A$8m 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 and nickel results in the Pilbara region of Western Australia.
Notes
1 https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/
4 https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/
6 https://thorenergyplc.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf
The Company notes that for the relevant market announcements noted above, that it is not aware of any new information or data that materially affects this information and that all material assumptions and technical parameters underpinning any estimates continue to apply and have not materially changed.
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