Sep 4, 2025
Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the signing of a term sheet ("Term Sheet") with DISA Technologies, Inc. ("DISA") to seek to evaluate and if successful, treat historically abandoned uranium mine waste dumps ("Waste") and recover saleable uranium and other critical minerals concentrates at Thor's Colorado uranium claims. Thor holds 25% ownership rights to uranium minerals on U.S. Bureau of Land Management ("BLM") via its US subsidiary Standard Minerals Inc. ("Standard") that holds the projects (the "Colorado Projects") in Colorado in the United States, along with the 75% holder, London-listed Metals One PLC (AIM: Met1).
Highlights:
Standard to be paid a Gross Revenue Share of any saleable uranium and other critical mineral concentrates recovered from waste at its Colorado Projects via deployment of DISA's modular mobile plants utilising the patented High-Pressure Slurry Ablation ("HPSA") system.
No capital expenditure or operating expenditure is payable by Standard or Thor.
Thirteen separate prospective waste dumps have been ground surveyed at Standard's Colorado Projects; others may be added to this inventory over time.
Standard to receive a percentage of gross product sale revenue stream, minus certain post-treatment allowable costs. A sliding scale with a base rate of 2.5%, through to 4.0% in certain metals pricing environments.
DISA will be the operator of the Colorado Projects and to pay all associated costs of economic evaluation, permitting, treatment and ongoing remediation.
Read more via source. Source: Term Sheet to Treat Colorado Project Uranium Waste Dumps and Gross Revenue Sharing Agreement with DISA Technologies | INN