Thor Explorations Share Discussion Threads

[ukgeorge] 24/9/2024 20:23

Gold flying

[stevea171] 22/9/2024 11:56

Cyberbub. Nigeria is politically stable unlike the sahel countries to the north. Senegal also has been recognized as one of the most stable countries on the African continent.

Segilola mine life is relatively short but is being addressed with current drilling beneath the open pit that just now is being targeted and with ongoing exploration and drilling on a regional basis within trucking distance of the mine. Interim results of drilling at Segilola will be released imminently.

Segun has recently said there is 3.5 years of resource currently and he expects this can be extended by another 3.5 years.

From the THX Interim report 24/8/24:
Re resource drilling at Segilola: As seen in Figure 2.2 below, an inferred resource of 135,000 ounces of gold grading at 5.65 grammes per tonne has been delineated underneath the ultimate Segilola open pit.

Structural studies which also incorporated the results from the grade control program carried out to date resulted in an interpretation of four well constrained high-grade shoots which are shallow dipping from the north to south (see Figure 2.3).
A 12,000 metre drilling program targeting possible extension of the gold mineralization underneath the designed open pit commenced late in the period and the company aims to release an initial set of drill results in September 2024.

[cyberbub] 21/9/2024 17:48

Just looking in here very briefly, looks like at least $80m net profit for the year at current gold prices, say £60m. On a p/e of 8 that would be £500m cap if you ignore the debt which is about to be paid off. So about 80p share price. Why is it still below 20p? Is there a short mine life? High political risk in Nigeria and Senegal? Thanks for any comments.

[devonlad] 20/9/2024 08:19

On the move, this share price is bonkers, not that I am moaining as I have bought a load of these!

[ukgeorge] 19/9/2024 16:40

About time these got over 20p

[devonlad] 17/9/2024 09:51

Nice, strong buying again, nice and steady rise, 24p target and further good news should take it beyond that imho, especially increasing the mine life. Very little not to like here, geo worries accounted for. nai, wtfdik.

[devonlad] 16/9/2024 08:21

Yup, that looks like a very good deal to me but wtfdik. share price clearly on a decent move north now to 24p anyway.

[molatovkid] 16/9/2024 06:08

Interesting news....looks like they have a couple of prospects for buttons. Good deal

[ukgeorge] 13/9/2024 13:03

Good interview from Segun.

As much as dividends would be nice, they are pretty unlikely imo.

We've got the Douta feasibility coming soon, sounds like the size of the resource will also be increased, so could be talking a 150koz per annum mine. Which is going to cost likely $100M+ so to avoid any dilution for share holders (he mentions this in the interview) we will need to build up a pile of cash.

With the record gold prices the future looks bright :)

[teapot222] 13/9/2024 11:08

If Segun kept mentioning starting dividends from next year which he never really pushes through in interviews this would get more interest as the past few years have seen little in terms of share price growth, which hopefully will change but guaranteed dividend returns in the short term would entice a lot of investors.

[stevea171] 13/9/2024 10:34

Quite so Devonlad. Segilola mine life extension along the lines Segun is talking about can double the share price by itself, still with nothing for Douta ahead of the PFS.

Sp here is in a trading range of 17-19p for the past 3 weeks. It should break higher with this big move in gold, drilling news dropping over the coming weeks/months, upcoming Q3 production results, Douta MRE, Douta PFS, etc.

[devonlad] 13/9/2024 10:14

Great find Steve, the mine life is really this big fly here, extend that and you get a more visible earnings stream into the future, imho. I have talked to a few other investors about it and they all came to that conclusion so for me, it is the really big factor holding this back. It does provide the current crazy valuation to invest in though so for me, this is a big buy on the assumption that they do extend the mine life.

[stevea171] 13/9/2024 10:07

Segun does a Canadian interview with the best questions yet.

The capex recently spent on the processing facility upgrade makes little sense if the mine life has only a few years left to run. but .... BUT ....

Segun says in answer to a question on this subject here: (from 6 mins in) currently there is 3.5 years mine life with the indication that they can double it through the current drilling program + satellite add ons.



Thor Explorations – Record Gold Poured At Segilola - Q2 & H1 Financials, Exploration Update At Douta

[hamidahamida] 13/9/2024 09:19

#THX Segilola underground drilling programme."We aim to release our first set of material results through the course of September and through(out) to the end of the year."https://x.com/bigbitenow/status/1833464368761123318?s=46&t=b0GZtBw9WLMEyLYDE-UiEA

[adw198] 13/9/2024 09:08

I think a year has already been pretty much confirmed, but yes drilling for more and would be unlucky not to get it.

First results this month…coinciding with gold breakout and next weeks Fed cutting cycle kicking off. Glorious!

[adw198] 13/9/2024 08:22

It’s bonkers really. Taking the absolutely worst case scenario of zero LOM extension and zero value at Douta, we’ll still spit materially more free cash at these gold prices than the MCAP.

And if gold does stay anywhere around these levels then the economics for LOM extensions and Douta FS become highly enhanced.

I’ve written Lithium off for now but you never know.

[devonlad] 13/9/2024 08:18

Fair point, still a crazy valuation though given the gold price and it looks likely the mine life will be extended.

Edit, apparently a golden cross on the chart which usually means a decent sized moe on the way.

[adw198] 13/9/2024 07:58

The AISC for H2 will be over $1100, so it’s not right to quote a margin of over $1600. I’d rather not mislead people who might then be disappointed when it’s “only” a margin of $1200+ (depending on gold).

Marvellous company and opportunity I topped up yday when I saw gold breakout.

[hamidahamida] 13/9/2024 07:29

Listen to 6 min onwards https://youtu.be/LX-cPXRO4A4?si=jwS-56vguNWgqQxi

[hamidahamida] 13/9/2024 07:26

Financial Highlights for the Period and H1 2024 · 23,588 ounces ("oz") of gold ("Au") sold in Q2 2024 with an average gold price of US$2,309 per oz. · Cash operating cost of US$585 per oz sold and all-in sustaining cost ("AISC") of US$802 per oz sold. o During the Period, lower cost medium and high-grade stockpile with an average grade of 3.42 grams per tonne of gold ("g/tAu") was fed through the mill resulting in a lower than expected cash operating cost .......CEO said Over 1 million TON ore still left to process

[adw198] 13/9/2024 07:20

Agree brilliant company and spitting out cash with multiple upsides too. Your H2 margins are off tho - the H2 AISC will be nearer $1150 than $800 because the yearly average is forecast $900-1000

[hamidahamida] 13/9/2024 07:15

Mine life extension in progress We should get news any day

[hamidahamida] 13/9/2024 07:13

Wow GOLD trading at an all time high Market will soon wake up and realise how cheap THX isJust look at the margins THX delivered in H1All in cost under 802 dollars Gold Trading at 2550 dollars 45000 oz for the h2 Over 1600 dollar margin that's over 60 million just in H2 and company is worth just over 100 million