Curated News
By: NewsRamp Editorial Staff
April 19, 2024
Thor Explorations Ltd On Track to Meet Gold Production Target in Nigeria
TLDR
- Thor Explorations Ltd is on track to produce 95-100,000 ounces of gold from the Segilola mine in Nigeria, giving them a competitive advantage in the gold market.
- The company completed plant upgrades and mining activities, leading to increased monthly gold production and a reduction in senior debt facility to $15 million.
- Thor Explorations' gold production and debt repayment contribute to economic growth and stability in Nigeria, making tomorrow better than today.
- The company is preparing for a substantial 4,000-meter drilling program focused on identified lithium anomalies, which presents an interesting opportunity for exploration.
Impact - Why it Matters
The news is important because it provides insights into Thor Explorations' progress towards meeting its gold production target and its ongoing exploration activities. Investors and stakeholders in the mining industry will be interested in the company's achievements and future plans, while individuals following the gold and lithium markets will find the updates relevant to their investment decisions.
Summary
Thor Explorations Ltd president and CEO Segun Lawson reports that the company is on track to meet its target of 95-100,000 ounces of gold from the Segilola mine in Nigeria. The company achieved over 19,500 ounces of gold production in the first quarter, with upgrades contributing to increased monthly production. Thor Explorations also made significant debt repayments, reducing its senior debt facility to $15 million. The company is continuing drilling across all projects, with an updated Mineral Resource Estimate and PFS at the Douta project expected in the second half of 2024. Additionally, the company is preparing for a substantial 4,000-metre drilling program focused on identified lithium anomalies.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, Thor Explorations Ltd On Track to Meet Gold Production Target in Nigeria
