Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) shares were up 20% on Thursday after announcing it had signed a binding agreement with DISA Technologies Inc, to treat abandoned uranium mine waste at its Colorado projects.
The company said the agreement includes a gross revenue share from the sale of recovered uranium and critical minerals using DISA’s High-Pressure Slurry Ablation (HPSA) system.
DISA has also received its final Service Providers License from the U.S. Nuclear Regulatory Commission, allowing it to remediate uranium waste. Under the deal, DISA will operate and fund all activities, including permitting and treatment.
"We are pleased to announce the execution of the full binding agreement with DISA… This agreement finalises the details under which Thor will potentially generate revenue," said chief executive Andrew Hume.
Thor holds a 25% interest in the Colorado projects through its US subsidiary, alongside Metals One PLC (AIM:MET1).
In London, Thor shares were up 20.7% changing hands at 0.82p, whilst Metals One moved up 2% to 4.1p.