Thor Explorations Ltd. · TSXV:THX
Thor Explorations — Investor Presentation (January 2025)
20 slides from Thor Explorations's investor presentation, January 2025
Slide 1: West African Gold Producer Investor Update
WEST AFRICAN GOLD PRODUCER INVESTOR UPDATE JANUARY 2025 AIM: THX.L TSXV: THX.V
Slide 2: Disclaimer
DISCLAIMER Certain statements contained in this presentation, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include, but are n
Slide 3: Overview
OVERVIEW Advancing Projects in 3 West African Countries Positioned for organic growth through exploration Shareholder value underpinned by high margin gold production Segilola Gold Project, Nigeria Cote d’Ivoire • DFS Base case open pit reserve of • Acquisition of prospective Birimian tenure 518,000
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT Capitalisation 12 Month Share Price Performance Basic Shares Outstanding 655,101,952 Fully Diluted Shares Outstanding 670,104,724 Share Price (TSX.V: THX) CAD 0.33 Share Price(AIM: THX) GBP0.19 Basic Market Cap CAD 216.51m Top Institutional Investors Broker Coverage Broker Target
Slide 5: Introduction
INTRODUCTION
Slide 6: Segilola Gold Mine – Summary 2024
SEGILOLA GOLD MINE – SUMMARY 2024 Strong end to 2024 • FY 2024 gold poured of 85,057 ounces (“oz”) • 24,662 oz poured during the fourth quarter 2024 • Gold sales in Q4 2024 of 24,936 • Record revenue for the quarter of approximately $62 million • Final and full repayment of the senior debt facility
Slide 7: Q4 2024 Production Summary
Q4 2024 PRODUCTION SUMMARY Units Q4 2024 Q3 2024 Q2 2024 Q1 2024 Mining Total Mined Tonnes 3,781,881 4,024,002 4,710,220 4,939,647 Waste Mined Tonnes 3,398,182 3,668,487 4,171,122 4,473,752 Ore Mined Tonnes 383,699 355,515 491,935 465,895 Grade g/t Au 2.30 2.01 1.78 2.07 Processing Ore Processed Ton
Slide 8: Social Responsibility & Community Development
Social Responsibility & Community Development 98% 126 Stakeholders' meetings Community Development Nigerian Nationals Agreements (CDAs) renegotiated in 37% 2570 Participants 2024 recruited from the Rolling out of benefits – school local communities scholarships; palliatives for elderly, schools rebu
Slide 9: Segilola Underground Exploration
SEGILOLA UNDERGROUND EXPLORATION Initial 12-hole drilling program was designed to test continuation of mineralization Initial program and proof of concept successful in testing mineralisation High grade mineralisation intersected over 140 metres below designed final pit profile Optimisation studies
Slide 10: Segilola Underground Exploration
SEGILOLA UNDERGROUND EXPLORATION Proof of concept drill program show resource remains open at depth www.thorexpl.com | AIM: THX.L | TSXV: THX.V 10
Slide 11: Senegal - Douta License
SENEGAL - DOUTA LICENSE Strategic land-holding in prolific gold region - Kéniéba Inlier Yatela 2.1 Moz Kéniéba Inlier Sadiola • >40Moz gold endowment Sadiola and Loulo deposits >10Moz each 10.8 Moz Strategic land-holding in Kéniéba Inlier • Mining lease straddles the major structural zone that separ
Slide 12: Douta Project
DOUTA PROJECT Global resource of 1,780,000 ounces Contained Grade Gold Thor Area Classification (g/tAu) (ounces) Interest Makosa Indicated 1.22 598,000 70% Makosa Inferred 1.1 654,600 70% Makosa Tail Indicated 1.73 256,800 70% Makosa Tail Inferred 1.68 171,300 70% Sambara Indicated 1.75 20,100 70% S
Slide 13: Douta Project Exploration
DOUTA PROJECT EXPLORATION 2024 Drilling Highlights • Drillhole DTRC941 - 24 m at 3.53 g/t Au from 0m • Drillhole DTDD920 - 12m at 1.40 g/t Au from 33m • Drillhole DTDD921 - 9m at 2.74 g/t Au from 15m • Drillhole DTRC936 - 8m at 1.13 g/t Au from 16m • Drillhole DTRC1012- 32m at 1.76 g/t Au from 0m •
Slide 14: New Côte d'Ivoire Portfolio
NEW CÔTE D’IVOIRE PORTFOLIO Key Highlights • Low-cost entry into Cote D’Ivoire • Acquisition of prospective Birimian Greenstone exploration tenure • The country hosts over 30% of West Africa’s greenstone belts • Underexplored emerging gold mining jurisdiction • Modern transparent mining code • Sever
Slide 15: Côte d'Ivoire - Guitry Project
CÔTE D’IVOIRE - GUITRY PROJECT Advanced Exploration Project acquired from Endeavour Mining Corporation • Over 11,000 metres of historical drilling • Drilling highlights include: • 12m grading at 10.4g/tAu, • 16m grading at 7.90g/tAu, • 24m grading at 2.02g/tAu and • 16m grading at 2.25g/tAu • Two ma
Slide 16: FY 2025 Outlook & Catalysts
FY 2025 OUTLOOK & CATALYSTS • FY 2025 production guidance range at 85,000 to 95,000 ounces • FY 2025 All-in Sustaining Cost (“AISC”) guidance range at $800 to $1000 per ounce • Strong projected cash flow growth with completely delevered balance sheet • Organic growth through exploration across the C
Slide 17: www.thorexpl.com
FOR ADDITIONAL INFORMATION, PLEASE VISIT: WWW.THOREXPL.COM Segun Lawson - CEO slawson@thorexpl.com James Philip - COO jphilip@thorexpl.com Ibu Lawson - Business Development and Investor Relations Manager Ibu.lawson@thorexpl.com Thor Explorations Ltd. Ibu Lawson - VP Corporate Development +1 (778) 37
Slide 18: Appendix
APPENDIX
Slide 19: Board of Directors
BOARD OF DIRECTORS Segun Lawson Adrian Coates Chief Kayode Aderinokun Folorunso “Folli” Adeoye Dr. Julian Barnes Collin Ellison, BSc, CEng Non- Osam Iyahen Chief Executive Officer, Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Executive Director Non-Exec
Slide 20: Executive Management
EXECUTIVE MANAGEMENT Segun Lawson James Philip Chris Omo-Osagie Alfred Gillman Louise Porteus Ettienne Du Plessis General Chief Executive Officer, Chief Operations Officer Chief Financial Officer Group Exploration Manager Environmental and Social Manager President and Director Manager Segun has been
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