**Summary**
Thor Energy PLC has signed a term sheet to sell its 75% stake in the FRAM Joint Venture (FRAM JV), which holds the Molyhil Tungsten/Molybdenum/Copper Project in Australias Northern Territory, to ASX-listed Tivan Limited for A$8.75 million. The deal significantly strengthens Thors balance sheet, enabling accelerated exploration of its core HY-Range natural hydrogen and helium project in South Australia.
**Key Points**
1. **Transaction Details**
Total considerationA$8.75 million, with 75% (A$6.562 million) going to Thor via its subsidiary Molyhil Mining Limited.
Payment structure
60% (A$5.25 million) payable within ~12 months.
Three annual deferred payments (A$1.312 million each) starting September 2026, payable in cash, shares, or a combination at Tivans discretion.
Target completion dateDecember 2025, subject to conditions precedent.
2. **Strategic Benefits for Thor**
Non-dilutive cash injection to fund HY-Range project.
Monetization of non-core assets aligns with Thors focus on hydrogen and helium exploration.
3. **Conditions Precedent**
Payment of a non-refundable deposit.
Ministerial/Departmental approvals for the transfer of tenements.
Consent from the Central Land Council (CLC) for the transfer and assignment of the Mining Agreement.
4. **Comments from Thors Chairman**
Alastair Clayton highlighted the transactions benefits, including cash inflow for Thor shareholders and reduced dilution, while emphasizing synergies between Tivans Sandover Project and Molyhil.
5. **Corporate Focus**
Thor remains committed to its HY-Range project in South Australia, leveraging proceeds from this and recent uranium transactions to advance its core business.
**About the Companies**
**Thor Energy PLC** Focused on hydrogen, helium, uranium, and energy metals exploration.
**Tivan Limited** ASX-listed critical minerals company advancing fluorite projects in Australia and Timor-Leste.
This transaction marks a strategic shift for Thor, prioritizing its clean energy portfolio while unlocking value from legacy assets.