Project 8 statements
The deposit 7
Key takeaway. Management describes the deposit as a high-grade door body, with underground grades averaging around about 5 and a half grams per ton and open-pit grades just over 4 g per ton.
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They report a stockpile currently over 44,000 ounces grading at 0.85 g per ton, and note a high-grade satellite deposit about 5 g per ton to be mined and stockpiled. On exploration upside, the company says it has delineated 8 km of drill targets on two structures with super high grade 10 gram 17 grams per ton. Their aim is to have a mine life round about that 10 year mark, and they state the resource is much bigger than Nigeria.
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Jurisdiction 1
Economics 6 statements
Economics 3
Key takeaway. Management of Thor Exploration discussed project economics in December 2025.
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They reported that all-in operating costs are below $1,000 per ounce, and capital expenditure is estimated between $250 and $300 million. The company noted that the bankable feasibility study was based on a gold price assumption of $1,600 per ounce, while the price at the beginning of the year stood at about $2,600 per ounce.
Financing 3
Key takeaway. Management says Thor Exploration is self-funding its capital needs with a structure of $150 million from its own balance sheet and $100 million from lenders.
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The company reports it is currently producing about between 90 and 95,000 ounces of gold this year, has fully repaid its debt, and is seeing its balance sheet grow month to month.
Timeline 6 statements
Timeline 6
Key takeaway. In a December 2025 update, Thor Exploration's management outlined a sequence of near-term milestones.
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The company said a prefeasibility study is "massive weeks away," an updated resource will be released in Q1, and long-lead items will be ordered at the end of Q1 or the beginning of Q2 next year. Management also reported it produced 22,600 ounces in Q3, expects the project to be fully permitted by the end of June next year, and targets first gold pour in Q1 2028.
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Corporate 1 statement
Market 1
Sources 1 interview
Every interview 1
| Date | Channel | Interview | Statements |
|---|---|---|---|
| 04 Dec 2025 | Crux Investor | Thor Exploration (LSE:THX) Cash-Generative African Gold Producer Advances Multiple Growth Pipelines | 21 |
What else those interviews covered
Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.
Questions people ask
What is Thor Exploration's project and where is it?
Thor Exploration is a producer gold company, with a project stated to be in Mali. Everything here is drawn from its executives' own interviews.
Which interviews mention Thor Exploration?
We track 1 interview mentioning Thor Exploration, across 1 channel (Crux Investor).
What are investors saying about Thor Exploration?
No independent commentary is on record yet — so far the page carries only the company's own voice.
What do recent interviews with Thor Exploration cover?
The most-discussed topics on record are the deposit, timeline, economics, financing — each claim quoted and dated in the sections above.