The directors of Thor Mining Plc (“Thor” or the “Company”) (AIM, ASX: THR, OTCQB: THORF) are pleased to announce a successful capital raise of A$2.65m to fund exploration activities at the Company’s project interests, with particular emphasis on the uranium exploration licences in Colorado and Utah in the United States.
Following this placement, including existing cash and listed investments, the Company’s total liquidity position is now circa A$4.0m (before costs of the capital raise).

The Company will also seek shareholder approval to change the Company’s name to “Thor Energy Plc” at a General Meeting of shareholders expected to be held on 4 January 2023. The proposed name change is intended to reflect the Company’s greater focus on its uranium assets within its portfolio.

Project highlights:

  • The Company has raised gross proceeds of A$2.65m via a placing of 378,571,429 new ordinary shares and Australian Securities Exchange-listed (“ASX”) CDI’s (“Ordinary Shares”) (the “Placing Shares”) at a price of A$0.007 (0.7 cents) per Ordinary Share (the “Placing”). Applications to participate in the placement were scaled back following strong demand.
  • Subject to shareholder approval, all placees will also receive three options for each four Placing Shares subscribed, being a total of 283,928,583 options (the “Placement Options”. All Placement Options are exercisable at $0.009 (0.9 cents) and expire 2 years from issue date.
  • Thor intends to apply for the quotation of the options, subject to meeting the ASX’s minimum listing requirements.
  • The allotment of the Placing Shares will not be subject to shareholder approval, falling within the Company’s existing shareholder authorities and placement capacity under ASX Listing Rules 7.1 and 7.1A.
  • Strong support was received from existing and new shareholders, strengthening the Company’s share register. DealAccess Pty Ltd acted as lead manager for the Placement with support from WH Ireland Limited in the UK.
  • Funds raised to be utilised for exploration activities at the Company’s uranium projects in the United States, as well as to progress drilling at the Kelly’s and Krona gold, nickel and lithium prospects in the Pilbara region of Western Australia, as well as for general working capital purposes.

These funds will allow Thor to advance its exploration activities at its uranium projects in the US and progress the exciting Ragged Range gold and nickel project.

We are very pleased to receive the ongoing support from the Company’s existing shareholders and welcome the Company’s new investors to our share register, who recognise the significant potential of our portfolio.

The proposed name change to ‘Thor Energy plc’ represents a shift in our focus towards our uranium assets, which we feel demonstrate the most significant value upside within our portfolio and longer-term benefits to the Company and its shareholders.




Thor Mining holds a 100% interest in three uranium-vanadium projects in the highly prospective Uravan Mining Belt on the border of Utah and Colorado. The Wedding Bell Project and the Radium Mountain Project are both in Colorado and comprise of 199 mineral claims over areas of historical high grade uranium and vanadium production. The Vanadium King Project in south-east Utah comprises of 100 mineral claims, approximately 40km north of the town of Moab.



SAEMC – Investor Presentation (December 2023)

Thor Energy Plc is pleased to provide investors with a chance to view the presentation slides from the Investor Presentation titled “Alford East: Accelerating Exploration with Fleet Space Technologies”, delivered by MD Nicole Galloway Warland, at the Annual General Meeting on the 29th of November 2023.

Read More »