In a recent conversation with Thomas Warner, Nicole Galloway-Warland, the managing director of Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR), discusses the company's latest advancements in uranium exploration. Thor Energy, a company focused on uranium and energy metals exploration, has released promising uranium results from their latest drilling at the Groundhog prospect within the Wedding Bell and Radium Mountain projects in Colorado. Galloway-Warland shares the excitement surrounding these findings, particularly in light of the recent surge in uranium spot prices. She provides insights into the discoveries, the company's immediate focus, and its plans for the future. The interview delves into the technical aspects of the discoveries, their market implications, and how Thor Energy is positioning itself for continued success in the coming year.
Thomas Warner (TW): Nicole, it's great to have you with us. Can you share the latest exciting uranium-themed results from Thor Energy?
Nicole Galloway-Warland (NGW): Absolutely, Thomas. Since our last update, we've completed our drilling program at both the Wedding Bell and Radium Mountain sites in Colorado. We're thrilled to report high-grade uranium intercepts, particularly notable is a 2.7% uranium finding from the downhole gamma. These results validate our belief in the potential of these shallow, high-grade areas.
TW: With the current excitement in the uranium market, how do these results position Thor Energy?
NGW: The timing couldn't be better. The uranium spot price is currently above $80 US per pound, showing a significant increase of nearly 64% since the start of the year. This positive market trend aligns well with our recent discoveries and bodes well for our future endeavours.
TW: Now that the drilling program is complete, what are your immediate plans?
NGW: We've sent samples to Canada for analysis, expecting results by January. These will provide further information on both uranium and vanadium content. Based on these findings, we're planning an infill and extension program at Radium Mountain and Groundhog. Our goal is to resume drilling early next year to continue advancing this exciting project.
TW: Reflecting on 2023, how would you describe the year for Thor Energy?
NGW: 2023 has been a fantastic year for us. It's been a period of significant consolidation and planning. Ending the year with a successful drilling program is exactly what we aimed for. It's all about getting boots on the ground and producing results, which we've certainly achieved.
TW: Thank you, Nicole, for sharing these insights. It's clear that Thor Energy is making significant strides in uranium exploration and is well-positioned for the future.