Thor Energy Plc · LSE:THR
Thor Energy — Investor Presentation (November 2023)
31 slides from Thor Energy's investor presentation, Nov 3, 2023
Slide 1: New Green Economy: Uranium Focus
For personal use only IMC Presentation New Green Economy: Uranium Focus 2 November 2023 Nicole Galloway Warland Managing Director
Slide 2: Disclaimer, legal notice and competent person statement
OVERVIEW PROJECTS NEXT STEPS Disclaimer, legal notice and competent person statement For personal use only Disclaimer This presentation contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can incl
Slide 3: New Green Economy: Strategic Focus on Uranium
OVERVIEW PROJECTS NEXT STEPS New Green Economy For personal use only Strategic Focus on Uranium ▪ Name Change ▪ Divestment - Monetisation of assets ▪ Focusing on new uranium opportunities USA Uranium Exposure ▪ Uranium – Colorado and Utah, USA ▪ US desire to secure supply security ▪ Three 100% owned
Slide 4: Uranium: Global Demand
OVERVIEW PROJECTS NEXT STEPS Uranium: Global Demand For personal use only Uranium spot price at a 12-year high above US$70/lb - a 54% increase since the start of 2023 Key Drivers in uranium and nuclear growth are: 74.50 ▪ Environment – Net zero nuclear ▪ Electrification ▪ Energy security and domesti
Slide 5: Uranium/Nuclear Energy: Green Economy
OVERVIEW PROJECTS NEXT STEPS Uranium/Nuclear Energy: Green Economy For personal use only “Global nuclear energy capacity should at least triple by 2050 to achieve climate targets, while still delivering the energy security our world requires.” WNA Environment World is transitioning to ‘greener’ econ
Slide 6: Uranium: Supply and Demand Fundamentals Continue to Grow
OVERVIEW PROJECTS NEXT STEPS Uranium: Supply and Demand Fundamentals Continue to Grow For personal use only China ▪ Third largest producer of nuclear power globally - (USA: #1, France: #2) ▪ 53 reactors in operation ▪ 23 under construction ▪ 70 planned 5
Slide 7: Investment Highlights - USA Uranium Exposure
OVERVIEW PROJECTS NEXT STEPS Investment Highlights - USA Uranium Exposure For personal use only Geopolitical – USA national supply security USA is the largest consumer of uranium in the world (~28%) Projects in proven mining jurisdictions - Utah and Colorado, USA “High-grade” sandstone hosted, shall
Slide 8: Experienced Board and Management
OVERVIEW PROJECTS NEXT STEPS Experienced Board and Management For personal use only Uranium exploration and development expertise Alastair Clayton Nicole Galloway Warland Mark McGeough Ray Ridge Chairman Non-Executive Managing Director Non-Executive Director CFO & Joint Company Secretary 25 years of
Slide 9: Company Snapshot
OVERVIEW PROJECTS NEXT STEPS Company Snapshot For personal use only Thor Energy PLC - AIM/ASX: THR Capital Structure Share Price £0.016 Ordinary Shares 269,350,808 Cash Balance ~£1.2m (as at 30 September) Market Capitalisation ~£4m 8
Slide 10: Uranium: Colorado & Utah, USA
For personal use only Uranium Colorado & Utah, USA
Slide 11: Project Locations
OVERVIEW PROJECTS NEXT STEPS Project Locations For personal use only ▪ Uravan Mineral Belt, Utah and Colorado, USA ▪ 3 Projects – 100% owned by Thor Energy PLC ▪ Wedding Bell, Colorado ▪ Radium Mountain, Colorado ▪ Vanadium King, Utah Only licensed uranium and vanadium processing facility in the USA
Slide 12: Community and Stakeholder Engagement (ESG)
OVERVIEW PROJECTS NEXT STEPS Community and Stakeholder Engagement (ESG) For personal use only Committed to building enduring relationships, built on mutual respect, active partnerships and long-term commitment ▪ Local exploration team ▪ Local event sponsorship ▪ Members of the local Chamber of Comme
Slide 13: "Saltwash" Style Uranium and Vanadium Geology
OVERVIEW PROJECTS NEXT STEPS “Saltwash” Style Uranium and Vanadium For personal use only Geology ▪ “Saltwash Style” - Sandstone filled paleochannels hosting uranium and vanadium ▪ Laterally extensive deposits (kilometres), hosted mainly in the Salt Wash member of the Morrison Formation (Jurassic) ▪
Slide 14: Successful Maiden Drilling Program in 2022
OVERVIEW PROJECTS NEXT STEPS Successful Maiden Drilling Program in 2022 For personal use only ▪ Reconnaissance Program (15 Holes) Colorado Prospects ▪ Targeting the Salt Wash Sandstone horizon ▪ Drilling testing high-grade uranium and vanadium mineralisation: 3 areas: ▪ Rim Rock ▪ Groundhog ▪ Sectio
Slide 15: Successful Maiden Drilling Program in 2022: Assays
OVERVIEW PROJECTS NEXT STEPS Successful Maiden Drilling Program in 2022 For personal use only Assays Validate Downhole Gamma and Highlight Vanadium Enriched HaloProspects Colorado 22WBRA14 1.5m @ 1776ppm V2O5 from 59.4m 0.3m @ 720ppm eU3O8 from 59.7m 22WBRA012A 0.3m @ 1400ppm eU3O8, from 85m and 1.5
Slide 16: Airborne Magnetic and Radiometric Surveys 2023
OVERVIEW PROJECTS NEXT STEPS Airborne Magnetic and Radiometric Surveys 2023 For personal use only ▪ Helicopter-borne surveys over all 3 project areas ▪ Designed to expedite exploration ▪ First high-resolution survey over the project areas ▪ Uranium anomalies defined new targets and extensions to kno
Slide 17: Drilling Now: Wedding Bell/Radium Mountain
OVERVIEW PROJECTS NEXT STEPS Drilling Now For personal use only Wedding Bell/Radium Mountain ▪ 4000m RC Program underway ▪ Testing: Rim Rock, Groundhog and Section 23 prospects ▪ Drilling Contract - Boart Longyear ▪ Downhole gamma surveys throughout the program (uranium), followed by assays for mine
Slide 18: Vanadium King, Utah
OVERVIEW PROJECTS NEXT STEPS Vanadium King, Utah For personal use only Colorado Prospects Previous Exploration ▪ Adjacent to Yellow Cat historic uranium workings ▪ Two oil wells drilled at the northern end of tenure recorded high gamma kicks at 117m, reflecting the presence of uranium mineralisation
Slide 19: Next Steps
For personal use only Next Steps Colorado Wedding News Bell Flow Project
Slide 20: Next Steps and News Flow
OVERVIEW PROJECTS NEXT STEPS Next Steps and News Flow For personal use only URANIUM Wedding Bell and Vanadium King Projects ▪ Drilling at Section 23, Rim Rock and Groundhog ▪ Maiden Drilling at Vanadium King ▪ Uranium results from downhole gamma throughout program followed by uranium and vanadium as
Slide 21: Timeline – Growth opportunities
OVERVIEW PROJECTS NEXT STEPS Timeline – Growth opportunities For personal use only URANIUM ✓ Licensing/Permits granted ✓ Exploration – Drilling growth ▪ Underexplored resource potential ▪ JORC Mineral Resource Estimate ▪ Project Generation and monetising of assets 20
Slide 22: Investment Case
OVERVIEW PROJECTS NEXT STEPS Investment Case For personal use only Uranium Focus – Supply & demand with favourable fundamentals Mining friendly jurisdictions – No sovereign risk Drilling now with strong pipeline of targets to drill test Modest market cap – Potential for significant rerating of share
Slide 23: Thank You
For personal use only Thank You Nicole Galloway Warland nicole@energyplc.com Australian Office AIM/ASX: THR OTCQB: THORF
Slide 24: Supplementary Information
For personal use only Colorado Supplementary WeddingInformation Bell Project
Slide 25: Copper in South Australia
OVERVIEW PROJECTS NEXT STEPS Copper in South Australia For personal use only Geology Colorado Prospects ▪ Substantial near-surface oxidised copper mineralisation, usually malachite or azurite trending at depth to readily leachable chalcocite, above primary chalcopyrite ▪ Leachable gold can also be a
Slide 26: Alford East - Inferred Mineral Resource Estimate
OVERVIEW PROJECTS NEXT STEPS Alford East - Inferred Mineral Resource Estimate For personal use only Inferred Mineral Resource Estimate for the Alford East Project 22 January 2021 – 0.05% Cu cut-off (oxide material only) (AIM/ASX: 27 January 2021) Domain Tonnes (Mt) Cu % Au g/t Contained Cu (t) Conta
Slide 27: Alford East Copper-Gold Project: High-Grade Results
OVERVIEW PROJECTS NEXT STEPS Alford East Copper-Gold Project: High-Grade Results For personal use only ▪ Broad high-grade copper-gold results (>500ppm) – ideal for ISR Colorado Prospects ▪ Diamond drilling Phase 1 results included: ▪ 21AED005: 72.7m @ 1.0 % Cu and 0.19g/t Au from 6.3m, including 18.
Slide 28: High grade REE results (TREO 500ppm Cut-off)
OVERVIEW PROJECTS NEXT STEPS High grade REE results (TREO 500ppm Cut-off) For personal use only Hole ID From (m) To (m) Interval TREO % TREO ppm MREO ppm Colorado HREO ppm % HREO to TREO Prospects Cu % 21AEDD005 6.3 43 36.7 0.16 1577 399 662 42 1.20 including 17.8 23.8 6 0.31 3077 776 1495 49 2.10 I
Slide 29: Fleet Space Technologies Collaboration
OVERVIEW PROJECTS NEXT STEPS Fleet Space Technologies Collaboration For personal use only ▪ Fleet and Thor form collaborative partnership Deeply weathered “trough” structure that (AIM/ASX: 4 September 2023) hosts oxide copper- ▪ ANT surveys gold & REE ▪ 3D Modeling with AI and ML combining all data
Slide 30: In Situ Recovery (ISR)
OVERVIEW PROJECTS NEXT STEPS In Situ Recovery (ISR) For personal use only ▪ ESG – Favourable alternative to traditional mining Colorado Prospects ▪ Low-cost / low environmental impact metal production ▪ Chemical process rather than a high-cost mining operation (no large pit / no crushing or grinding
Slide 31: Thank You
For personal use only Thank You Nicole Galloway Warland nicole@energyplc.com Australian Office AIM/ASX: THR OTCQB: THORF