Thor Energy PLC has signed a definitive Sale and Purchase Agreement that sees the company offload a 75% interest in its US subsidiaries holding non-core uranium and vanadium projects in Colorado and Utah to Metals One PLC. Under the deal, Metals One will make an exclusivity cash payment of approximately A$205,000 and issue Thor Energy shares equivalent to A$2,050,000 in value—14,224,751 shares priced at 7.03 pence per share, determined using a 15-day volume-weighted average price. Metals One will take over operations of these projects while Thor Energy retains a 25% interest, with an option granted to Metals One for a 12-month period to eventually acquire the remaining stake at a price to be agreed or set by an independent valuation. During this period, Metals One will solely fund all exploration activities across the acquired claims, consolidating the US projects under a single operational entity. This strategic move not only monetizes Thor Energy’s interest in its US assets but also provides a significant source of non-dilutive funding that could bolster its focus on advancing the HY-Range natural hydrogen and helium project in South Australia. On the bullish side, investors might view this transaction as a positive reallocation of resources, where the infusion of new funds and the operational expertise of Metals One could drive more efficient exploration and development. Conversely, the bearish perspective could note the inherent risks in relinquishing control of a large portion of the projects and potential uncertainties surrounding the valuation of the remaining 25% interest, which will be subject to future negotiations or third-party assessment. Overall, the deal reflects a strategic shift, highlighting Thor Energy’s commitment to its core focus areas while leveraging strategic partnerships to unlock value from its subsidiary assets.