Africazine:
Thor Explorations Ltd. has made significant strides in advancing the Douta Gold Project in Senegal.
The company completed a pre-feasibility study that reveals a pre-tax NPV5% of US8 million and a pre-tax IRR of 73% based on a US,500 per ounce gold price assumption. Initial project capital is estimated at US4 million, with production expected to begin in early 2028.
Thor Explorations Advances Douta Gold Project
Thor Explorations Ltd. announced the completion of a pre-feasibility study for the Douta Gold Project, which is fully owned by the company. The study includes an updated mineral resource estimate and a maiden mineral reserve prepared under NI 43-101. This marks a significant milestone in Thor’s strategy to become a multi-asset gold miner.
President and CEO Segun Lawson expressed satisfaction with the results, highlighting the project’s strong economics and favorable payback period. The study indicates that Douta is a high-quality gold project with a substantial Indicated Resource base, providing long-term leverage to gold prices.
Senegal: Key figures on Douta Gold Project
- Pre-tax NPV5% of US8 million
- Pre-tax IRR of 73%
- Initial project capital estimated at US4 million
- First production targeted for early 2028
- Cash balance of about US7 million at the end of 2025
Next Steps for Douta Gold Project Development
- Finalization of the Mining Convention with the Government of Senegal
- Ordering of the Project’s long lead items
- Continuation of the 40,000 metre drilling program
- Update of the resource in Q3 this year
Thor Explorations is poised to advance the Douta Gold Project, marking a pivotal moment in its growth strategy.
