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Thor Explorations ( (TSE:THX) ) has shared an update.
Thor Explorations has filed an NI 43-101 compliant technical report supporting the pre-feasibility study for its Douta gold project in Senegal, confirming previously announced robust economics. The study outlines a 12.6‑year, two‑phase operation expected to produce 1.0 million ounces of gold from 37 million tonnes of mill feed, with low initial capital of US$254 million and strong project returns at both base case and higher gold price assumptions.
The report highlights a pre-tax NPV5% of US$908 million and IRR of 73% at US$3,500/oz gold, with substantial upside to NPV US$1.43 billion at recent spot prices and an anticipated sub‑year payback once production begins. An updated mineral resource estimate underpins a 1.2 million ounce probable reserve, while the approved environmental and social impact assessment and planned 2026 engineering and permitting milestones position Thor to bring Douta into production around early 2028 and advance its transition into a multi‑asset, multi‑jurisdictional gold producer.
More about Thor Explorations
Thor Explorations Ltd. is a West Africa-focused mineral exploration and development company with assets in Nigeria, Senegal and Côte d’Ivoire. It holds 100% interests in the producing Segilola Gold Project in Nigeria, the Douta Gold Project in south‑eastern Senegal, and the Guitry Gold Project in Côte d’Ivoire, alongside additional exploration tenements across these jurisdictions. The company is listed on both AIM and the TSX Venture Exchange under the symbol THX.
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