Ann: Trading Halt, page-4

CORPORATE, FINANCE, AND CASH MOVEMENTS
The Company reports netcash outflows from operating and investing activities for the quarter of$840,000,
comprising inflows of AUD$350,000 from the sale of Power Metal Resources Plc (POW) Shares and $293,000
from the receipt of government grants and total outflows of AUD$1,483,000. AUD$1,313,000 of the outflows
related directly to exploration activities.
Providing an ending cashbalance of AUD$1,175,000. In addition, Thor holds a further 35,118,920 POW Shares
with a mark to market value of £474,000 (approximately $846,000) based on the closing price of £0.0135 for
POW Shares, as traded on the London Stock Exchange on 27 October 2022. Approximately one third of these
POW Shares are freely tradeable, with the other third being released from escrow on 31 October 2022 and the
remaining third being released from escrow on 31 January 2023.
Cashflows for the quarter include related party payments of $98,000 to Directors, comprising the Managing
Director’s salary, and Non-Executive Directors’ fees.

Based on the last quarterly cash outflows summary above (net $840k) and assuming similar due to funding requirement for current activities and MD/NED fees and with and ending cash balance of $1,175m, they’d be down to their last dime at the moment and close to the end. Yup must be a raising. With 2 billion shares outstanding this gig is getting tougher to support and is a serious penny stock.