Thor Energy (ASX:THR) Receives $1.31 Million Molyhil Payment from Tivan

Aditi Sarkar

29 October 2026 05:50 PM AEDT

Thor Energy (ASX:THR) Receives $1.31 Million Molyhil Payment from Tivan

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Highlights

Thor received A$1,312,500 in deferred payments from Tivan for the sale of the Molyhil Project.
Closing cash was A$3.0 million at 30 September 2026.
The company says it is fully funded for its planned 464 line-km 2D seismic survey at HY-Range.
The seismic survey is expected to take place in late Q1 or early Q2 2027, subject to approvals.

Thor Energy PLC (ASX:THR) has released its quarterly activities and cash flow report for the period ended 30 September 2026. The update covers the receipt of deferred payments from the sale of its Molyhil Project and progress towards a seismic survey at its HY-Range natural hydrogen and helium project in South Australia.

Molyhil Payment Strengthens Cash Position

Thor received A$1,312,500 in deferred completion payments from Tivan Limited following the sale of the Molyhil Project. Half was paid in cash and half in Tivan shares, with the payment received on 15 September 2026. Closing cash at 30 September 2026 was A$3.0 million.

CEO Andrew Hume attributed the cash position to the company's strategy of divesting non-core assets. Thor intends to monitor market conditions before deciding when to sell its Tivan shares once their escrow period ends in March 2027.

HY-Range Seismic Survey Plans

Thor is seeking a Statement of Environmental Objectives from the South Australian Department for Energy and Mining, along with other approvals, for a planned 464 line-km 2D seismic survey over RSEL 802 at the HY-Range Natural Hydrogen and Helium Project. The company states it is fully funded to carry out the survey without needing to raise equity immediately.

Mr Hume said the consultation process means the seismic survey will most likely take place in late Q1 or early Q2 2027. He cited natural hydrogen geochemistry results of 3% as support for the prospectivity of HY-Range.

Cash Flow and Asset Portfolio

Net operating cash outflow for the quarter was A$468,000, including A$61,000 on exploration and evaluation, while investing activities generated A$656,000 from the cash component of the Tivan payment. The company estimates about 6.4 quarters of funding at its current spending rate and has no loans or undrawn facilities.

Thor's portfolio includes the HY-Range and Geo-Range projects in South Australia, held through Go Exploration, interests at Bonya and Alford East, and a 25% interest in US uranium-vanadium claims in Utah and Colorado.

Key Takeaways

The Molyhil payment has strengthened Thor's cash position to A$3.0 million.
Thor states it is funded for its HY-Range seismic survey without an immediate equity raise.
The seismic survey is expected in late Q1 or early Q2 2027, subject to approvals.
Thor continues to focus on natural hydrogen and helium exploration in South Australia.

FAQs

Q: What payment did Thor receive?

A: Thor received A$1,312,500 from Tivan for the sale of the Molyhil Project, half in cash and half in Tivan shares.

Q: What is the HY-Range project?

A: HY-Range is Thor's natural hydrogen and helium exploration project in South Australia.

Q: When will the seismic survey take place?

A: The survey is expected to take place in late Q1 or early Q2 2027.

Q: What was Thor's cash at quarter end?

A: Thor held A$3.0 million in cash at 30 September 2026.

Q: Does Thor need to raise equity for the survey?

A: Thor states it is fully funded for the survey without needing an immediate equity raise.

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