Thor Explorations Share Discussion Threads

[littleblew180] 12/12/2024 09:47

Any news on the Osun state claim?

[fozzie] 08/12/2024 09:31

Well I’m glad there’s more to come here as I have held for three years and still underwater.

[martinmc123] 02/12/2024 10:15

Thor Explorations Ltd is a West African-focussed minerals exploration and mining Company, that is currently producing gold from its wholly owned Segilola Gold Mine in Nigeria and is advancing the Douta Gold Project in Senegal towards development. The miner today announced further positive results from the initial proof-of-concept drilling programme that targets the down-plunge potential beneath the current Segilola open pit extents. Previously reported results include 3 metres grading 11.24 grammes of gold per tonne from 294m...from WealthOracle

wealthoracle.co.uk/detailed-result-full/THX/1042

[littleblew180] 28/11/2024 12:49

The current VAV is 22p so we are still below that level

[ukgeorge] 28/11/2024 12:14

Should think these will be back to 20p soon, I tried to buy some earlier and had to put a buy order in as none available

[stevea171] 28/11/2024 08:24

Douta Project. Recent drilling has been in part to increase the oxide proportion of the expected 2 million oz resource to be announced in the next MRE. Probably, initially, at best there may be 1 million oz of oxide ore that can be processed by conventional CIL processing. The deeper material is refractory ore that would need a BIOX to be built or a toll agreement with Endeavour to use their new BIOX that started operation a few months ago to process ore from Massawa that is just a few km from Douta. Endeavour's BIOX cost $290 million for 194k oz pa capacity.

Further drilling is likely to increase the resource.

The estimated cost of building a 100k oz pa mine at Douta is $150-175 million for Stage 1. It can be done in two stages with the oxide ore CIL processing first followed by a BIOX for another $150 million plus.

Stage 1 will likely be financed 50% by a Bank/Finance Co and the balance through cash flow from Segilola. Segun says he is not looking to dilute shareholders with a development of Douta.

A PFS for Douta is said to being finalised but is said to be very tight for release on schedule before year end.

This is to be followed by a DFS in H1 next year for which a lot of detail has been placed in the PFS.

Finance is to be arranged in H2/25.

Construction is likely to be by the Chinese who were contracted for the build of Segilola. Commence 2 year build late 2025 with completion late 2027.

[stevea171] 22/11/2024 19:57

UKGeorge. Thanks. Short but sweet! First interview from Zurich. Segun pulling out all the stops giving interviews to counter the botched attempt by Osun State to cash in!

Segun: "We plan to give money back to our shareholders in the first half of next year."

[ukgeorge] 22/11/2024 16:58

Possible dividends coming. I think I'm going to buy myself a few more :)

[ukgeorge] 20/11/2024 17:17

Thanks for the link

[stevea171] 20/11/2024 08:09

Segun Canadian interview. 21 mins. Thor Explorations – Q3 Financials/Operations At Segilola. Exploration At Douta Building Towards PFS.

With only half of Q4 remaining guidance reiterated ie production is on track for c. 25k oz Q4 and 85k oz for FY at $900 AISC. That's around US$42.5m free cash for this Q.



Q3 2024 Financial Highlights

18,167 ounces (“oz”) of gold sold with an average gold price of US$2,328 per oz.
Cash operating cost of US$585 per oz sold and all-in sustaining cost (“AISC”) of US$766 per oz sold.
Revenue of US$40.2 million (Q3 2023: US$36.6 million).
EBITDA of US$27.4 million (Q3 2023: US$10.5 million).
Net profit of US$17.5 million (Q3 2023: US$0.9 million).
Senior debt facility reduced to US$3.9 million as at September 30, 2024. This debt is scheduled to be fully repaid by the end of Q4 2024
Transitioned from a net debt position of US$2.7 million as at June 30, 2024 to a net cash position of US$2.7 million as at September 30, 2024.

[ukgeorge] 19/11/2024 11:34

Nice to see these heading in the right direction

[lord buffett] 14/11/2024 17:01

The presentation is here, or rather will be, when they've finished processing the presentation and Q&A session from earlier today:

hxxps://www.investormeetcompany.com/meetings/investor-presentation-759

(You may need to register to watch it.)

[littleblew180] 14/11/2024 16:12

Is the presentation anywhere?

[ukgeorge] 14/11/2024 14:14

Pretty good presentation earlier, hopefully dividends or share buy back in 2025

[ukgeorge] 29/10/2024 18:34

Gold back at record highs, should be debt free, a dividend or share buy back would be a good use of some cash. Yes build some cash for the project but need to reward us shareholders

[ukgeorge] 24/10/2024 09:22

Hopefully, value will out. Should be debt free soon, then cash should be building up nicely. The feasibility study should be a catalyst.

[sharekitchen1974] 24/10/2024 06:20

For such a low cost producer there really isn't much interest in the shares

[ukgeorge] 23/10/2024 10:12

Another busy day, one trade for £3k.....

[ukgeorge] 22/10/2024 12:03

Yes, it should be making $1M every 3 days. Using production of 20koz a quarter margin of $1,500.

[sharekitchen1974] 22/10/2024 11:47

Gone very quiet here since the tax dispute, they must be chucking out cash at the current gold price

[ukgeorge] 22/10/2024 10:07

Talked myself into buying 118k at 16.3p