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The latest announcement is out from Thor Explorations ( (TSE:THX) ).
Thor Explorations has delivered a positive pre-feasibility study for its 100%-owned Douta Gold Project in Senegal, outlining a robust, long-life open-pit gold operation expected to produce around 1 million ounces over 12.6 years, underpinned by a probable reserve of 1.2 million ounces and an indicated resource of 1.7 million ounces. The study points to strong economics, including a post-tax NPV5% of US$633 million and IRR of 61% at a US$3,500/oz gold price, low initial capex of US$254 million, rapid payback of under a year driven by high-margin oxide production in the first phase, and significant upside leverage at current gold prices; with the ESIA approved, a binding deal to acquire the remaining 30% of the Douta West permit, ongoing 40,000-metre drilling and sufficient cash to fund construction without equity dilution, the project positions Thor to become a multi-asset gold producer with first output targeted for early 2028 and enhanced exposure to a potentially district-scale mineralised trend in eastern Senegal.
More about Thor Explorations
Thor Explorations is a West Africa-focused gold mining and exploration company listed on the TSX Venture Exchange and AIM, with existing operations in Nigeria and a growth strategy centred on becoming a multi-asset producer across the region. Its core business is the exploration, development and production of gold projects, and it is expanding its portfolio through projects such as the 100%-owned Douta Gold Project in Senegal, supported by active drilling programmes and strategic permit acquisitions.
Learn more about THX stock on TipRanks’ Stock Analysis page.