THOR EXPLORATIONS LTD - FY25 Results Presentation

Thor Explorations Ltd’s FY25 results presentation delivered a strong investor update, highlighting robust company performance, record financial results and a clear growth strategy across West Africa. The company produced nearly 92,000 ounces of gold at its Segilola mine in Nigeria, with all-in sustaining costs in line with guidance, benefiting from a high gold price environment, widening margins and strong EBITDA potential. Revenue, cash flow and net cash position all increased materially, with year-end cash of $137.7 million, no debt, and continued shareholder returns through quarterly and bonus dividends. Looking ahead, Thor reiterated FY26 production guidance of 75,000 to 85,000 ounces and cost guidance of $1,000 to $1,200 per ounce, while advancing a major mine life extension opportunity at Segilola through underground drilling and satellite deposits. In Senegal, the Duyta project’s preliminary feasibility study outlined a long-life, economically robust gold development with fast payback, supporting Thor’s ambition to become a multi-mine producer without shareholder dilution. Meanwhile, exploration momentum is building in Côte d’Ivoire, where multiple drill campaigns are expected to drive news flow and resource growth. Overall, the presentation underscored Thor Explorations’ strong balance sheet, disciplined cost management, expanding order book of development and exploration opportunities, and commitment to sustainable growth, revenue generation and shareholder value.