About Thor Explorations
Thor Explorations Ltd is a West African focused gold producer listed on both the TSX Venture Exchange (TSX-V: THX) and AIM Market of the London Stock Exchange (AIM: THX).
Since completing its 100%-owned Segilola Gold Mine in southwest Nigeria in Q4 2021, Thor completed its fourth full successful year of production in 2025. The mine produced 91,910 ounces of gold in 2025, 85,057 ounces of gold in 2024, 84,609 ounces in 2023, and 98,006 ounces in 2022.
Segilola was built on total probable reserves of 517,800 ounces of gold at an average grade of 4.02 g/t (March 2021), and also offers additional near-mine exploration upside potential.
Segilola Gold Mine
Annual Gold Production
Resource
First-Mover Advantage
The Segilola Gold Mine is Nigeria’s first and only large-scale commercial gold mine.
The Company has a first mover advantage in Nigeria, a largely unexplored part of West Africa with highly prospective geology, significant artisanal and small-scale gold mining.
Beyond Segilola, Thor holds a 70% economic interest in the Douta Gold Project, an advanced gold exploration asset in south-eastern Senegal. Following an updated Mineral Resource Estimate of 1.78 million ounces, workstreams supporting a Preliminary Feasibility Study advanced in 2024. Drilling has confirmed continuity of gold mineralisation with several high-grade intersections, and the identification of additional prospects has justified an accelerated drilling programme.
Our history
From the acquisition of the Segilola Gold Project to achieving full-scale gold production, Thor Explorations has built a track record of growth, innovation, and delivery. Follow our journey as we expand across West Africa and continue unlocking the region's gold potential.
Acquisition of the Segilola Gold Project
Completion of the Segilola Gold Project Preliminary Feasibility Study
Completion of the Segilola Gold Project Preliminary Bankable Study
Segilola Gold Project Financing Close
Segilola Gold Project Groundbreaking / commencement of construction
Segilola Gold Project First Gold Pour
Douta Gold Project Maiden Resource: 7380,000 ounces at 1.5g/t
Our history
From the acquisition of the Segilola Gold Project to achieving full-scale gold production, Thor Explorations has built a track record of growth, innovation, and delivery. Follow our journey as we expand across West Africa and continue unlocking the region's gold potential.
Acquisition of the Segilola Gold Project
Completion of the Segilola Gold Project Preliminary Feasibility Study
Completion of the Segilola Gold Project Preliminary Bankable Study
Segilola Gold Project Financing Close
Segilola Gold Project Groundbreaking / commencement of construction
Segilola Gold Project First Gold Pour
Douta Gold Project Maiden Resource: 7380,000 ounces at 1.5g/t
Segilola Gold Project: Completion of first full year of production, with 98.006 ounces of gold produced
Douta Gold Project: Updated Maiden Resources Estimate: 1,780,000 Oz at 1.5g/t
Douta Gold Project: Acquisition of contiguous Douta West licence
Expansion into Cote d'Ivoire announced with the acquisition of exploration licences
Full repayment of Africa Finance Corporation's senior debt facility completed
Maiden dividend paid out to shareholders
Segilola Gold Production | Douta Pre-Feasibility | Nigeria Exploration
Our Executive Management team
James Philip
Chief Operations Officer
Chris Omo-Osagie
Chief Financial Officer
Alfred Gillman
(FAusIMM)Group Exploration Manager
Louise Porteus
Environmental and Social Manager
Ettienne Du Plessis
Segun Lawson
BSc, MBACEO, President and Director