Thor Explorations (“Thor”) has released Q1 financial results having previously announced production of 22.79koz from the company’s Segilola mine in Nigeria. Cash costs for the period were US$711/oz with an All In Sustaining Cost (“AISC”) of US$950/oz, above our expectation of US$855/oz. Guidance for 2025 of 85koz-95koz at an AISC of US$800/oz-US$1,000/oz has been maintained. The average received gold price during the period was US$2,720/oz, with revenues of US$61.9m (both previously released) wi ....
