Company
CVE:THX
Thor Explorations Ltd is a West African focused gold producer. The company's mission is to unlock West Africa's gold potential through responsible exploration and production. It operates Nigeria’s first large-scale commercial gold mine and continue to expand across Senegal and Côte d’Ivoire, building long-term value through growth, discovery, and sustainable development.
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The closing of the second tranche increases the aggregate total raised by the company under the private placement to C$13.55 million
The Vancouver=based company is advancing both its Segilola Gold Project in Nigeria and the prospective Douta Project in Senegal
The Vancouver-based company is developing its Segilola gold project in Nigeria and advancing exploration at the prospective Douta Gold Project in Senegal
The company recently signed a landmark deal with the Africa Finance Corporation for a US$54 million senior secured credit facility and a US$21 million gold stream prepayment
The company signed an agreement with Africa Finance Corporation to fund the remainder of the landmark Nigerian gold project
They comprise 344 square kilometres next to Segilola, with 20 kilometres of northern strike extension from the main ore body on the project
Segilola is one of the most advanced gold projects in Nigeria
Thor boss Segun Lawson said: ""Detailed design work on the Segilola Project is in progress and we are on track to break ground in Q4 this year"
The offering will consist of 100.5 million shares available at C$0.20 per share, higher than its C$0.16 Friday close
The extension date for the private placement aligns with the target final closing date for Africa Finance Corporation’s US$15 million additional equity subscription
The Vancouver-based junior explorer said that the TSX Venture Exchange had granted a 30-day extension to close the offering
The paperwork was finalized May 31 during the International infrastructure Investment and Construction forum in China
Segilola is considered to be the most advanced gold project in Nigeria
The company said funds raised would go towards development of the Segilola gold project in Nigeria, further exploration in Nigeria and at Douta Project in Senegal and for general corporate purposes
The Vancouver-based company is seeing positive drill results at Segilola, an open pit mineral resource of around 441,000 ounces of gold
The move extends Norinco International’s partnership with Thor and highlights its commitment to the Segilola gold project, which is considered the most advanced gold project in Nigeria
Thor has just secured US$54mln in senior debt financing for the development of the Segilola project in Osun state, approximately 120 kilometres north of Lagos
AFC has a current balance sheet of around US$4.5 billion and is the second-highest investment-grade-rated financial institution in Africa
Thor also posted today a preliminary economic assessment (PEA) for a proposed additional underground project
The company has inked a memorandum of understanding (MoU) with NORINCO International for an EPC contract
