Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) president and CEO Segun Lawson speaks to Proactive's Stephen Gunnion about the company's robust performance in Q2 2024, particularly at its Segilola Gold Mine in Nigeria.
Lawson highlighted that the company achieved record gold production and net profits during the quarter, driven by recent plant upgrades and efficient cost management.
He emphasised that the company is well-positioned to continue its strong performance, with over one year's worth of material stockpiled for processing even after mining operations conclude. The reduction of debt is also a priority, with $7.9 million paid off towards the senior debt facility, and the remaining balance expected to be cleared by year-end.
Looking ahead, Lawson discussed the company's strategic focus on extending the life of the Segilola mine through near-mine exploration and upcoming projects in Senegal and Nigeria. He noted that the Douta Project in Senegal, which is nearing its PFS stage, could significantly enhance the company's valuation, potentially offering a ten-year mine life at 100,000 ounces per year.