Thor Explor Share Price (THX)

Noel - Yes, I'm with ii. Likewise, no dividend yet. Guess we'll have to wait a bit longer 🙄

It wasn't a Happy Dividend Day for me. Is anyone else with Interactive Investor? Did you get your dividend today? I didn't.

Free money dayyyyyyy😀

Top up time :D

Douta, Thor 100%, but expected Government free carry 10%. It has a current estimated reserve of 1.2 million oz at 1.03 gm/t, a resource of 1.97 million oz of gold at 1 gm/t with an initial mine life of 12 years.

This area in eastern Senegal is characterized by an extensive gold mining industry with a large number of open pits that in total host or have hosted 12 million oz of gold. Douta lies within this rich gold landscape with the possibility of multiple million oz of gold from multiple open pits feeding in to a central processing hub.

Exploration here has proceeded over a number of years but there are many targets. Further exploration and drilling along a 15 km mineralised corridor and new licences contiguous with the original licence should increase the 2 million oz resource substantially.

26/1/26. Pre Feasability Study Summary.

Production to average 111 oz pa for the first 3 years of mine life at an AISC of US$1,469/oz.

The estimated cost of building a 100k oz pa mine at Douta is $254 million.

Pre-tax project NPV5% of US$908 million and IRR of 73% at a gold price assumption of US$3,500/oz – Payback 11 months

Project is to be entirely funded from the Company’s cash reserves and project financing.

Project financing is to be arranged in H1/26. Construction is likely to be by the Chinese company who were contracted for the build of Segilola. Commence 2 year build H2/26 with first gold pour H1/2028.

54Moz of gold surrounding Douta in Senegal and Mali.

Nearby gold properties are:

Massawa. Endeavour. In production. Douta is adjacent E of Massawa.

This is a huge licence area with many open pit gold mines.

It had reserves of 2.6 million oz at 3.94 gm/t and a resource of 4.4 million oz on sale from Barrick.

The ore is partly oxide and partly refractory with processing at Sabodala processing facility via CIL and a new BIOX.

It was acquired (90%) by Teranga Gold Corp from Barrick for US$380 million in cash and shares in 2020 (then Teranga was subsequently acquired by Endeavour Mining in 2021).

Sabodala-Massawa. Endeavour. This is a Tier 1 world class mining complex, the largest in Senegal.

Douta is aprox 30 km SE of the processing facility.

Sabodala has been in operation snce 2009.

Historic production. Over 4 million oz of gold.

2025 Reserves of 2.7 million oz at 2.01 gm/t. M&I resources are 5.2 million oz at 2.02 gm/tTotal endowment. Over 9 million oz.

It has production from mostly open pits in the region with some underground at 273k oz at 2 gm/t in 2025 with AISC $1248 oz.

Map: https://www.endeavourmining.com/our-portfolio/sabodala-massawa-mine/

Makabingui gold project. Bishop Resources. Resource of 1 million oz at 2.6 gm/t.

Located immediately to the east of the northern part of Douta's licence.

Other properties in the region include:

 Mako Gold Mine. Resolute. Resource of 1.3 million oz, located approx 35 km SW of Douta.

Loulo (W Mali) - 12.5Moz. Barrick.

Goukoto (W Mali) 5.4Moz. Barrick.

Sadiola (W Mali) -