Curated News
By: NewsRamp Editorial Staff
April 03, 2024
Thor Explorations Increases Position in Douta Project in Senegal
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- Thor Explorations Ltd increases its position in southeast Senegal through the acquisition of interests in two licences, capitalizing on progress in advancing the Douta gold project.
- Thor is focused on exploring satellite deposits and deeper drilling beneath the Segilola pit, with significant news flow anticipated across its Senegalese and Nigerian projects.
- The acquisition of interests in licences provides a low-cost entry for significant exploration upside, potentially making the world a better place by expanding the total resource base.
- Exploration efforts continue at the Segilola mine in Nigeria to extend the life of mine, reaffirming production guidance for the year.
Impact - Why it Matters
The acquisition of new licences in Senegal and the focus on exploration in Nigeria demonstrate Thor Explorations' commitment to expanding its resource base and strengthening its financial position. This news signifies potential growth and development in the gold mining industry, which could impact investors and stakeholders.
Summary
Thor Explorations Ltd president and CEO Segun Lawson discusses the company's acquisition of interests in two licences in southeast Senegal, capitalizing on the progress of the Douta gold project. The company is focused on strengthening its balance sheet and achieving a strong free cash flow position, with significant news anticipated across its Senegalese and Nigerian projects.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Thor Explorations Increases Position in Douta Project in Senegal
