Member Info for TO73

I was expecting about 25,000oz this quarter. Segilola has quite a target to hit in Q3 &4 if it will meet its guidance.

Revising the figures with more accurate and conservative estimates

Endeavour Mining (West Africa)

Proven & Probable Reserves (P&P): 13.927 million ounces (Moz) of gold.

Measured & Indicated Resources (M&I): 26.667 Moz.

Q1 2024 Production: 219,000 ounces.

All-In Sustaining Cost (AISC): $1,186 per ounce.

Share Price: $25.36 USD.

Thor Explorations (West Africa)

Proven & Probable Reserves (P&P): 0.40 Moz of gold.

Measured & Indicated Resources (M&I): 1.00 Moz.

Q1 2024 Production: 19,589 ounces.

All-In Sustaining Cost (AISC): $1,100 per ounce. (using 2024 operational guidance and ignoring the good fortune of Q1)

Share Price: $0.19 USD (calculated from 15 GBX assuming 1 GBX = 0.0127 USD).

Comparison as a Percentage of Endeavour

P&P Reserves: Thor is 2.9% of Endeavour.

M&I Resources: Thor is 3.7% of Endeavour.

Q1 Production: Thor is 8.9% of Endeavour.

AISC: Thor's AISC is 92.8% of Endeavour.

Share Price (USD): But Thor's share price is 0.75% of Endeavour's share price.

Thor Explorations Ltd is still significantly undervalued.

Sorry, that is GBX 15.00 (approx. US$0.19) 0.86%

Metric Endeavour Mining Thor Explorations Thor as % of Endeavour

P&P Reserves (Moz Au) 18.1 1.6 8.8%

M&I Resources (Moz Au) 25.5 3.7 14.5%

Q1 2024 Production (oz Au) 351,000 26,877 7.7%

AISC (US$/oz) $995 $1,161 116.7%

Share Price (July 8, 2024) GBX 1,743.00 GBX 38.25 2.2%

They both operate in West Africa.

Thor explorations Ltd is significantly undervalued.