Thor Energy Forms Joint Venture with Investigator Resources for Northern Territory Projects; Shares Up 7%

MT Newswires Live08-14

Thor Energy (ASX:THR) formed a joint venture with Investigator Resources (ASX:IVR) for the Molyhil and Bonya projects in the Northern Territory, according to a Wednesday filing with the Australian Securities Exchange.

The move comes after Investigator Resources spent AU$1 million on the tenements and transferred a 25% interest in the Molyhil tenements, the filing said. The company's 40% stake in its JV with Arafura Rare Earths (ASX:ARU) over the adjacent Bonya tenement will also be assigned to Investigator.

Investigator Resources will issue AU$250,000 worth of shares to the company upon the formalization of a 25% interest in the JV, the filing said.

Thor Energy shares rose nearly 7% in recent Wednesday trade, while Investigator Resources shares fell almost 5%.

Price (AUD): $0.02, Change: $+0.001, Percent Change: +6.67%

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