Gold miner Thor Explorations saw good developments across its Segilola gold mine, in Nigeria, and its mineral exploration properties located in Nigeria, Senegal and Burkina Faso for the three and six months to June 30, president and CEO“Operations are performing well, with the processing plant still operating above nameplate design. The company posted strong revenues for half one of $81-million, with earnings before interest, taxes, depreciation and amortisation of $35.
While the fourth-quarter gold production forecast remains in line with the company’s original target, with potential upside as mining conditions continue to improve as the west wall pushback nears completion, the company says it considers it prudent to update guidance for the full year to 85 000 oz of recovered gold – the lower end of the previously announced range.
At Douta, in Senegal, Thor is said to be making good progress towards completing the prefeasibility study, which is scheduled to be completed in the fourth quarter this year.