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Thor Energy shares jump 10% on stronger cash and progress in hydrogen and helium exploration.

Market News
29 Apr 2026
Proactive Investors
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Bullish
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Thor Energy's shares rose 10% following its Q1 update showing a cash balance of A$3.31 million after selling the Molyhil Tungsten-Molybdenum Project. The sale brought net proceeds of A$6.56 million plus future payments, strengthening the company's financial position. Thor is advancing its natural hydrogen and helium exploration, completing Phase 2 soil air geochemistry surveys at its HY-Range Project in South Australia, with promising preliminary results expected soon. The company also expanded its hydrogen portfolio with new applications in the Otway Basin through a joint venture with H2EX Ltd, setting the stage for further seismic work and drilling.

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