Can Thor’s Uranium Waste Deal Deliver Profits Without Upfront Costs?
Thor Energy has signed a term sheet with DISA Technologies to explore processing abandoned uranium waste dumps in Colorado, aiming to generate revenue without upfront costs using innovative HPSA technology.
- Term sheet signed with DISA Technologies for uranium waste processing
- Gross revenue sharing agreement with no capital or operating costs for Thor
- Use of patented High-Pressure Slurry Ablation (HPSA) technology
- DISA nearing U.S. Nuclear Regulatory Commission licensing approval
- Environmental remediation benefits alongside mineral recovery
A New Chapter for Legacy Uranium Assets
Thor Energy plc has taken a significant step toward monetising its legacy uranium holdings in the United States by signing a term sheet with DISA Technologies, a private equity-backed innovator in materials processing. The agreement focuses on evaluating and potentially processing historically abandoned uranium mine waste dumps located on Thor’s Colorado Projects. This initiative could unlock a new revenue stream for Thor without the burden of capital or operating expenditures.
Innovative Technology at the Forefront
Central to this partnership is DISA’s patented High-Pressure Slurry Ablation (HPSA) system, a modular and mobile technology designed to treat surface dumps of partially mined material. Unlike traditional chemical methods, HPSA offers a revolutionary, non-chemical approach that not only recovers saleable uranium and critical minerals but also significantly reduces environmental hazards. Studies indicate that the process can remove up to 90% of uranium and radium-226 content from the waste, delivering meaningful remediation to local ecosystems.
Regulatory Milestones and Market Alignment
DISA is on the cusp of securing a Service Providers License from the U.S. Nuclear Regulatory Commission, which would position it as the first company licensed to remediate abandoned uranium mine waste using this technology. This regulatory progress dovetails with strong U.S. government support for domestic recovery of uranium and critical minerals, highlighted by recent Department of the Interior orders aimed at unlocking strategic mineral resources from mine waste.
Financial Structure and Strategic Focus
Under the terms, Thor’s U.S. subsidiary, Standard Minerals Inc., will receive a gross revenue share from any saleable concentrates recovered, with a sliding scale starting at 2.5% and potentially rising to 4.0% depending on metal prices. Importantly, all costs related to evaluation, permitting, processing, and remediation will be borne by DISA, leaving Thor free of upfront financial risk. While this deal opens a non-dilutive revenue pathway, Thor’s core corporate focus remains on its HY-Range hydrogen and helium project in South Australia.
Looking Ahead
The next steps involve detailed characterisation of the waste dumps to assess mineral content and economic viability, followed by securing all necessary permits to commence processing. Both parties aim to finalise a binding agreement soon, setting the stage for potential revenue generation from recycled uranium and critical minerals. This collaboration exemplifies how legacy mining assets can be revitalised through innovative technology and aligned regulatory frameworks.
Bottom Line?
Thor Energy’s partnership with DISA could transform abandoned uranium waste into a profitable, environmentally beneficial resource.
Questions in the middle?
- Will DISA secure the U.S. Nuclear Regulatory Commission’s Service Providers License on schedule?
- What volumes and grades of uranium and critical minerals will the waste dumps yield upon evaluation?
- How will fluctuating metal prices impact the sliding scale revenue share for Thor Energy?
