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Bullboard - Stock Discussion Forum Thor Explorations Ltd V.THX

Alternate Symbol(s):  THXPF

Thor Explorations Ltd. is a Canada-based mineral exploration company. The Company is engaged in the acquisition, exploration, development and production of mineral properties located in Nigeria, Senegal and Burkina Faso. It holds a 100% interest in the Segilola Gold Project located in Osun State, Nigeria and has a 70% economic interest in the Douta Gold Project located in south-eastern Senegal.... see more

TSXV:THX - Post Discussion

Thor Explorations Ltd > Segilola Gold Project February Production Update
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Post by Betteryear2 on Mar 08, 2022 6:41am

Segilola Gold Project February Production Update

Vancouver, British Columbia--(Newsfile Corp. - March 8, 2022) - Thor Explorations Ltd. (TSXV: THX) (AIM: THX) ("Thor" or the "Company") is pleased to report that operations at its 100% owned Segilola Gold Mine in Nigeria continued to perform at budget and above design capacity without any unplanned stoppages in the month of February. Total gold production for the month was 7,082 ounces with regular gold exports occurring throughout.

The Segilola process plant is now running continuously above the design mill throughput, with 74,908 tonnes of ore processed during the month. The plant throughput rate of 121 tph was an increase of 13% on the 107tph achieved in January. Notably, the gravity circuit continued to outperform its design specification, with a recovery of over 60%. The overall gold recovery improved again to 94%. The Company anticipates meeting its Q1-2022 and full year 2022 production guidance.

Segun Lawson, President & CEO, stated

"We are pleased to have produced over 7,000 ounces of gold in the shorter month of February. There continue to be production improvements in all aspects month on month for three consecutive months at the Segilola Gold Project in Nigeria. In particular, we have been pleased with the improved overall recovery which continues to trend upwards and averaged 94% for the last 10 days of February. We remain on course to meet our Q1 and full year guidance."
 

https://www.newsfilecorp.com/release/115968

 

 
Comment by Goldenboy1180 on Mar 09, 2022 4:44am
That's awesome ! We're looking around 92k oz a year, with an AISC rounding 985$. 25M$ more on the EBIDTA if gold level stays above 2050 USD/oz. But hey, where's the weather guy, the stockpunter to comment every variation on the share price...  what he's only doing his thing when the stock goes down and gold goes up ? Weird... : )) GLTYA Goldenboy
Comment by ABDPhil on Mar 09, 2022 8:55am
Even though I'm not in the game, I'm happy for you Goldenboy. THX's SP recovers quickly and rising POG is a good catalyst.   Concerning the comments related to the daily variations of the SP, it is useless for the long-term investors that we are.   Good success
Comment by stockpunter on Mar 15, 2022 2:14pm
Respectfully, I disgree.   A long term investor is someone who understand the business and the risks and decides that the probable return on the business, either though capital gains or dividend payout, justifies the risks. People who buy shares in companies like THX are speculators.  They are wishful thinkers that largely subscribe to the "greater fool" hypothesis, which ...more  
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