INVESTORS
Investment Case & FAQs
Key statistics
Dual-listed Exchanges
AIM: THX.L |
TSX-V: THX.V
FY2025 production
91,910 oz gold (Segilola, Nigeria)
2026 guidance
Production: 75–85 koz | AISC: US$1000– $1,200/oz
Cash position (Q4 2025)
Cash balance: US$137.0m (unaudited)
Shares outstanding
Basic shares:
666,573,136
100% owned flagship asset
Segilola Gold Mine (Nigeria) is 100% owned
Company & Strategy
What does Thor Explorations do?
Thor is engaged in the acquisition, exploration, development and production of mineral properties in Nigeria, Senegal and Côte d’Ivoire, with Segilola as its flagship operating asset.
What is Thor’s flagship asset?
The Segilola Gold Project in Osun State, Nigeria (Thor holds a 100% interest).
What is the growth strategy?
To optimise and extend value at Segilola through operational discipline and exploration, while advancing the Douta Project in Senegal and progressing exploration across Côte d’Ivoire and other regional opportunities.
Operations
How much gold did Thor produce last year?
Thor reports 91,910 ounces of gold produced in 2025 at Segilola.
What is Thor’s 2026 production and cost guidance?
FY2026 guidance is currently 75,000–85,000 oz and AISC of $1000–$1200/oz.
How is Thor working to extend mine life at Segilola?
Through near-mine and underground drilling programs designed to test continuity of mineralisation below the current pit design and identify potential extensions.
Projects & exploration
What is Douta and what does Thor own?
Douta is a gold project in south-eastern Senegal where Thor holds a 70% economic interest and reports a 1.78Moz Au global resource.
What is Thor doing in Côte d’Ivoire?
Thor has acquired Guitry and entered into option agreements on additional licences, with early exploration focused on data review, geochemistry and target definition for follow-up work.
Shares & listing
Where is Thor listed? What are the tickers?
Thor trades on AIM: THX.L and the TSX Venture Exchange, TSXV: THX.V as shown in company materials.
What is the current share structure?
As of 7 January 2026:
Shares outstanding: 666,573,136
Options outstanding: 0
Fully diluted: 666,573,136
Shares not in public hands: 38.19%
Reporting, governance & contacts
Where can I find results, reports and technical documents?
Use the Investors section for Financial Statements, Filings & Reports, and Technical Reports, plus the latest Corporate Presentation and Fact Sheet.
Who do I contact for investor relations?
Ibu Lawson (VP of Corporate Development/head of IR)
contact@investmentpartnershipltd.com