Investigator Resources Ltd (AU:IVR) has released an update.
Investigator Resources Ltd, operating through its subsidiary Fram, has completed the first stage of its earn-in agreement with Thor Energy Plc by investing A$1 million in exploration activities at the Molyhil and Bonya Projects. This achievement gives Fram a 25% interest in the tenements and paves the way for a joint venture, while Thor Energy can concentrate on its U.S. uranium and Alford East Copper-REE projects. The agreement also provides for further investment opportunities for Fram to increase its stake up to 80% through a structured three-stage earn-in process.
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