Thor Explorations Share Discussion Threads

[stevea171] 15/1/2024 09:20

Segun Lawson, President & CEO, stated :

"I am pleased that the Company was able to successfully complete what was projected to be the most operationally challenging year in the Segilola mine plan. We were able to complete the year producing 84,600 ounces, however, most importantly, we have positioned the mine very strongly for the coming years.

"We expect that the successful completion of the west wall push back and the improvements made to the processing plant will allow the mine to operate more efficiently whilst also making accelerated drawdown of the current high levels of the gold in circuit through the course of the year.

"In Nigeria, we have made small but very important discoveries within trucking distance of the Segilola plant. The area within a 40km radius of the Segilola Mine has been a key exploration focus for potential high-grade satellite resources that can be transported economically to the central processing plant at Segilola. There were encouraging high-grade drill results from the Kola Prospect in the Southern Prospects, which opens up a new front of exploration potential to the south. In addition, further encouraging geochemical sampling results from the Central Prospects are indicative of the potential for high-grade resource within close proximity to the plant. We are looking forward to our drilling program on our delineated targets in the first half of this year. Now we have completed the push back of the west wall, our priority this year is on exploration aimed at increasing the Segilola mine life. With this in mind, we are also commencing our underground drilling program in H1 2024.

"We are also pleased with the progress made at Douta. We were encouraged by the final set of drill results received in Q4 2023 and have been working on the Preliminary Feasibility Study. The current focus has been on the metallurgy and the process flowsheet, and we expect to update the market with an updated resource estimate and, subsequently, a Preliminary Feasibility Study in Q1 2024."

[stevea171] 15/1/2024 09:18

Q4 production report:

Segilola 2023 Operational Highlights

FY 2023 gold production of 84,609 ounces:

21,798 oz during the Quarter at an average grade of 2.77 gm per tonne of gold.

--Successfully completed push back of Segilola Western Wall
--Successfully upgraded process plant elution and electrowinning system
--Acquisition of additional gold and lithium exploration tenure in Nigeria
--Continuation of drilling programs on near mine and regional targets
--Segilola underground exploration drilling program to commence in H1 2024

Lithium Exploration
--Initial set of encouraging drill results received in Q3 2023 as previously announced
--Land portfolio increased to include additional project areas
--Focus on scout drilling across a number of targets through H1 2024
--Continued acquisition of prospective lithium exploration ground in Nigeria

FY 2024 outlook and catalysts
--FY 2024 production guidance range set at 95,000 to 100,000 oz of gold
--FY 2024 All-in Sustaining Cost ("AISC") guidance range set at $1,100 to $1,200

-- Strong exploration focus on Segilola near mine drill targets and underground drilling program in H1 2024 with an initial 5,000 metre drilling program delineated

--Updated Mineral Resource Estimate at the Douta Project to be completed in Q1 2024

-- Preliminary Feasibility Study ("PFS") test work is ongoing at the Douta project in Senegal, focusing on the metallurgy and process flow sheet targeting publication in Q1 2024 following the updated Mineral Resource Estimate.

[swinsco] 12/1/2024 09:14

Still dropping. Seller about I guess. With gold prices near all time highs you'd think Thor wouldn't be at all time lows.

[ukgeorge] 10/1/2024 10:04

Hopefully gold production is okay but based on the share price there looks like there is something wrong.

[swinsco] 10/1/2024 09:06

It doesn't help with such low volumes traded each day. Will see what the incoming update has to say.

[fozzie] 10/1/2024 08:51

Lots of good peeps invested here so I am surprised by this fall. Let’s see where it shakes out and I for one will be adding a few more.

[swinsco] 10/1/2024 08:32

Got this one wrong. Looks like someone wants out.. update due. Not looking good.

[swinsco] 05/1/2024 15:25

Time to move up.

[aberloon2] 06/10/2023 11:23

Looks like a bounce happening here…are their drill results imminent?

[ukgeorge] 12/9/2023 12:44

More drill results coming this month

[ukgeorge] 12/9/2023 12:17

Thanks for the link

[tommyttrades] 12/9/2023 08:50

+10% on the TSX last night, far more liquid for THX

Down on AIM today,... Anyone for arbitrage

[tommyttrades] 31/8/2023 17:48

Well that's a great positive..I've added today on TSX, only buying producing companies.

Going from inferred to higher confidence resources


Company updated in March a total resource of ~1.8 Moz @ ~1.2 g/t, roughly 50/50 split between indicated and inferred
So Makosa Tail and Makosa, where apx90% of inferred ounces are currently contained
these zones has returned a grade distribution mostly above the resource grade.

So most of this will go from inferred to indictaed , possibly higher ??

Makosa East.....drilling so far is consistent in grade
and depth with Makosa and Makosa Tail.
Still looking at PFS for Q4 23

[oshy92] 19/8/2023 10:03

Glad you found the session worthwhile UKGeorge. Here is a recording of the session. Please subscribe to the channel if you like our films! www.youtube.com/watch?v=QaObGydxSNU&feature=share8

[ukgeorge] 18/8/2023 14:35

There was a really good presentation today by Segun Lawson the CEO. With Q&A at the end. Hopefully a recording will be put on the company website.

Should produce 80-100k oz this year then 100k for next 3 @ costs around US1,100. (AISC)

PFS on the Douta project should happen in the next year.

Drilling continuing on the new lithium projects.

Came across very well and has put his money where his mouth is. Buying 6M share recently.

[ukgeorge] 16/8/2023 07:49

Some great grades!

[ukgeorge] 15/8/2023 09:28

Change the xx to tt in this bit hxxps://us02web

[voyage1] 14/8/2023 18:14

Hi Oshy92, I would like to register for the webinar on the 18th, but the link above doesn't work for me. Not sure whether that is my setup or whether it is due to the link?

[oshy92] 04/8/2023 14:13

Afternoon. We are holding an investor webinar with management of Thor Explorations, midday (UK time) on Friday 18th August. To register please go to:

hxxps://us02web.zoom.us/webinar/register/9416911526650/WN_i9kAgLVVTRCmzQat59c-xg

[rovi70] 31/7/2023 12:06

High low who knows

[ukgeorge] 25/7/2023 10:25

Looks like these are heading to new highs :)

[tommyttrades] 17/7/2023 14:37

The Lithium prospect probably came as a surprise to most, it does look as though we will have an easy market to sell into if/when mining commences

I note that Tesla were rejected in favour of a Chinese Co for a new Lithium plant

Kaduna, a state in northwestern Nigeria, has selected China’s Ming Xin Mineral Separation Nig Ltd. (MXMS) to build the country’s first lithium-processing plant, with a plan to manufacture batteries for electric vehicles (EVs).



Can hardly blame the Nigerian's for asking


“Our new mining policy demands that you add some value to raw mineral ores, including lithium, before you export to create jobs and build industries,” Adeyemi said. “They don’t have to turn ores into finished goods. We are only asking them to add some value before exporting.”

hxxps://restofworld.org/2023/nigeria-lithium-processing-ev/

[ukgeorge] 12/7/2023 16:40

Decided to create a new thread as the others don't have the share price chart.

Looks like an interesting story using the gold revenue to develop some lithium plays in Nigeria.

Management seem to have some good skin in the game. Bought a few at 20p.