Thor Explorations Ltd is a gold exploration company with a focus on early-stage gold exploration projects located in highly prospective underexplored regions of West Africa.
In August 2016, Thor completed a transformational acquisition of a 100% interest in the Segilola Gold Project in Nigeria. The Segilola Gold Project is a high-grade gold project comprised of an open pit gold mining project with probable reserve of 518,000 ounces of gold at 4.02 g/t. The acquisition transformed the Company from an early-stage explorer to a developer with a mineral resource inventory with the potential to become a producer.
Thor has since focused its activities on the development of the Segilola Gold Project, initially through a Preliminary Feasibility Study, completing a Definitive Feasibility Study in 2019, and then completing a Project Financing of US$104.5m comprised of equity, debt and a stream facility in 2020. The Project went into construction on 1st March 2020 and is scheduled to pour its first gold in June 2021.
The Company is well positioned for strong growth in the near to mid-term period. Thor is currently advancing its highly prospective 70% owned Douta Project in South-east Senegal where it has made a material mineral discovery.