Thor Explorations says gold price has boosted cash generation as it reiterates production guidance
–News Direct–
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) president and CEO Segun Lawson tells Proactive's Stephen Gunnion the company is on track to meet its target of 95-100,000 ounces of gold from the Segilola mine in Nigeria following a productive first quarter.
The company completed plant upgrades and mining activities from the previous year, leading to gold production of over 19,500 ounces in this quarter. These upgrades contributed to increased monthly gold production, reaching 1,200 ounces in March alone. Additionally, Thor Explorations made significant debt repayments, reducing its senior debt facility to only $15 million. The company also built a stockpile of over 6,000 ounces of high-grade gold.
Drilling is continuing across all of its projects including near...