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Thor Explorations Targets 75-85k oz Gold, Eyes Senegal FID
Thor Explorations CEO Segun Lawson said the Senegal Douta project is in final FID stages, with construction targeted within months. Gold production at Segilola remains on track at 75,000–85,000 oz.
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Thor Explorations Ltd. expects to produce 75,000 to 85,000 ounces of gold this year from its Segilola mine in Nigeria, President and CEO Segun Lawson said on an August 17 earnings call. The West Africa-focused gold producer is also in the final stages of a final investment decision on its Douta project in Senegal.
Lawson said the company is negotiating with financiers and the Senegalese government over the mining convention. “We are looking to position to build that project during the course of the next few months and aiming to be in production, should I say, in the next couple of years,” he told investors.
In Côte d’Ivoire, Thor holds five exploration licenses. Two are receiving priority spending while the other three run low-cost programs, Lawson said. The company has not disclosed assay results from those targets.