Thor Explorations Ltd is about to commence gold production at the Segilola mine in Nigeria. The costs of production are less than half the current gold price. That means that cash can be generated in the second half. The mine life appears limited at six years, but there is scope to increase the resource.
The business has not generated revenues previously. The cash can be used to self-fund the development of Senegal assets and expand interests in Nigeria.
There was no money raised in the AIM flotation. Thor Explorations is already quoted on the Toronto Venture Exchange and has previously...
