Thor Explorations Ltd. (THXPF)
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Thor Explorations reports 'encouraging start' to Segilola underground drilling
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has published first results from drilling an area 50m beneath the current open pit at the Segilola gold mine in Nigeria. So far, the significant results include 3m grading 11.24 grammes per tonne of gold from 294m in drillhole SNMDD011 and 1.5m grading 3.22g from 269m in drillhole SNMDD012.
Thor Explorations resolves tax dispute at Segilola without disruption
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) said it has settled a tax dispute with authorities in Nigeria's Osun State, paying outstanding taxes owed by its subsidiary, Segilola Resources Operating Limited (SROL). The company clarified that the payment, totaling 98.3 million naira (approximately $61,900), was made despite not being granted the standard 30-day review period.
Thor Explorations rejects 'inaccurate' press reports about Segilola mine
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has dismissed ' inaccurate' press reports of tax evasion and unethical business practices at its Nigerian subsidiary Segilola Resources Operating Limited (SROL). In a statement, the gold miner said: “ Thor Explorations fully rejects all the allegations and has not been presented with any evidence by the Osun State Government to support its claims.
Thor Explorations CEO discusses Guitry gold project acquisition - ICYMI
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) CEO Segun Lawson sat down with Proactive to talk about the company's recent acquisition of the Guitry gold project in Côte d'Ivoire. Lawson said the company is excited by the potential of the 300 square kilometer property, which has numerous unexplored areas and several confirmed mineralization zones.
Thor Exploration strikes two deals for gold exploration properties in Cote d'Ivoire
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) told investors on Monday that it has struck two deal for exploratory projects in Cote d'Ivoire. One is the Guitry project, of which it has agreed to buy 100% from Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) for US$100,000 cash and a 2% net smelter royalty.
Thor Explorations sees positive results from Makosa East drilling
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has reported positive results from its ongoing drilling program at the Douta Gold Project in Senegal. The focus has been on the Makosa East Prospect, located parallel to the main Makosa mineralised trend - this area remains outside the current resource estimate, which is currently 1.78 million ounces of gold.
Thor Explorations cheers operations and improving financial performance
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) chief executive Segun Lawson told investors the firm is pleased with the operational performance for the second quarter and first half of 2024, and the financial performance has continued to improve year on year. The company has again made a material paydown of its senior debt facility, the Thor boss added.
Thor Explorations hits year-high as profits climb
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) leapt 20% to a year's high as it revealed bumper earnings for the half year to end June and a near wiping out of its debt. The Nigeria-focused gold miner reported interim net profits of US$39.9 million, up 129%, adding debt for the group was now down to just US$2.7 million net.
Thor Explorations profits soar with gold prices
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) took advantage of record gold prices with second-quarter profits up by around 90%. Gold sold from production at the Segilola gold mine in Nigeria during the three months totalled 23,588 ounces at an average gold price of US$2,309 per oz.
Thor Explorations on track to meet full-year production goals after successful Q2 - ICYMI
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) CEO Segun Lawson joined Proactive this week to discuss the company's impressive performance during the second quarter, which saw it pour nearly 22,000 ounces of gold at its Segilola mine in Nigeria. Other notable achievements from the quarter were plant upgrades that boosted efficiency and gold recoveries to 94% and Thor Explorations reducing its outstanding debt with AFC to $7.9 million.
Thor Explorations sees benefit of mine circuit upgrade
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) poured 21,742 ounces of gold in the three months to end June 2024, its second quarter, putting it on course to meet its target for the year of 95-100,000oz. Production from the Segilola mine in Nigeria was 491,000 tonnes at a grade of 1.78 g/t, with 174,000t milled, 9,000oz added to the stockpile and 3,650 oz released from gold-in-circuit.
Thor Explorations makes 'encouraging' start to latest Douta drilling
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) said drilling from the 2024 exploration programme at the Douta gold project in Senegal had intersected significant gold mineralisation east of the main Makosa deposit. Makosa East runs parallel to the main trend, with the priority from the drilling to extend the oxide component of the existing resource of 1.78 million oz indicated and inferred.
