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Gold
Gold
gold

Thor Explorations generates record quarterly revenue

Segilola mine

Segilola mine

13th January 2026

By: Marleny Arnoldi

Senior Deputy Editor Online

     

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TSX-V- and Aim-listed Thor Explorations produced 23 719 oz of gold in the quarter ended December 31, 2025, bringing its full-year total to 91 910 oz, from the Segilola mine, in Nigeria.

The company announced a special dividend payment of C$0.015 apiece for the fourth quarter of the year, in addition to the standard C$0.0125 dividend, which brings the total payable dividend in the period to C$0.0275 apiece.

The company sold 25 830 oz of gold in the fourth quarter at an average realised price of $4 189/oz, resulting in record quarterly revenue of $108-million.

The Segilola mine had 242 182 t of ore milled at an average grade of 3.3 g/t, with a process plant recovery rate of 94.8%.

Thor had a cash balance of $137-million at the end of December, as well as 3 188 oz of gold bullion inventory.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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