Thor Explorations – The first gold pour at the Segilola Gold Project and exploration work at both Segilola and the Douta Project

August 3, 2021

Segun Lawson, President and CEO of Thor Explorations (TSX.V:THX – US:THXPF) joins us for an update on the start of production and exploration work underway.

We start with the first gold pour at the Segilola Gold Project that was announced on July 30th. We discuss what the wrap up to commercial production looks like and the annual forecast of 85,000 ounces per year.

On the exploration front the Company just wrapped up the 15,000 meters of drilling at the Douta Project and has started a 6,000-10,000 meter program at Segilola.

If you have any questions for Segun regarding the ongoing work at Thor Explorations please email us at either or

Click here for a summary of the recent news out of the Company.

    Aug 03, 2021 03:02 PM

    The stock market used to measure the tremendous changes that were in progress in the economy. But now all this new money just chases the next palatable flavor looking for a rosy profitable quick flip!

      Aug 03, 2021 03:04 PM

      If you can’t beat them join them, I love quick flips!

        Aug 03, 2021 03:20 PM

        What a buying opportunity in Group Ten today. Sibanye Stillwater is an extremely profitable company, they won’t leave Group Ten sitting, waiting for a suitor, this just won’t happen. The way to wealth is to accumulate, and that only means one thing!

          Aug 03, 2021 03:24 PM

          Yep, it is pretty likely that down the road Sibanye could be a suitor for Group Ten, and I’m sure the team at SBSW be watching the ongoing PGE 10,000 meter drill program with keen interest. That is likely a bit further down the road as they just turned down their option to gain 51% stake in GENM Generation Mining’s Marathon Nickel/PGM project and/or what many had speculated could have been a takeover offer from Sibanye. This means their sites are elsewhere. They did mention in January being interested in acquiring a gold asset, so maybe that will be the next mining company they buy.

          However, Sibanye did just make a new acquisition a few days ago of a Nickel processing facility in France, so clearly they are still also very focused on the battery metals, and the kinds of resources found at their Stillwater mine in Montana, and what the neighboring Group Ten also has in their deposit. All in due time… but, first I’d rather see PGE just keep hitting with the drills, expanding into their resource estimate, do some met testing, and more economic studies. As the value of the resource becomes more obvious, the market cap will rise.


          (SBSW) Sibanye-Stillwater Progresses Battery Metals Strategy With The Exclusive Put Option To Acquire Eramet’s Sandouville Nickel Processing Facilities

          30 July 2021

          “The transaction is the second step in Sibanye-Stillwater’s battery metals strategy, building on the investment in the Keliber lithium hydroxide project, in partnership with the State of Finland and the Finnish Minerals Group, announced in February 2021. The Sandouville site is a polyvalent facility which is already zoned for heavy industrial purposes. The site is scaleable for nickel, cobalt and lithium battery grade products, and will enable Sibanye-Stillwater to further advance its battery metals strategy and recycling activities.”

          Neal Froneman, CEO of Sibanye-Stillwater commenting on the transaction, said:

          “We are delighted to progress with this second step in our battery metals strategy, which is an important step in getting further downstream exposure to the battery metals value chain. The Sandouville facility is ideally located close to the European end-user markets and well supported by significant logistical infrastructure, which will allow us to leverage our existing Platinum Group Metals relationships. We look forward to working with Eramet and the French authorities to build a leading battery metals platform in Europe.”

    Aug 03, 2021 03:47 PM

    Congratulations are in order for Segun and the Thor Explorations team on their “First Gold Pour” and it has been a pleasure following along and watch the company execute and this is a big milestone for the company. Well done!

    This is where some investors check out preferring to go find the next explorer or developer than can make the journey, but really it is still very early days for most companies when they become a new producer, and is simply a graduation to a new phase of business, while also maintaining exploration upside that can be funded with revenues instead of dilutive capital raise after capital raise for exploration. It will take time to start ramping up to full commercial production, but then their new adventure begins as a freshly minted producer (something 99% of mining companies will never achieve).

    It is not just early days as far as their production profile growth, but also still early days in their exploration around their Segilola mine and also at their Douta project in Senegal. There are still plenty of regional targets around Segilola where they can look for satellite pits to feed the beast (the mill), and these kinds of nearby deposits would be very accretive now, with the sunk costs and capex already spent and production underway.

    With Douta, it is more of a lower-grade bulk tonnage project, but it could end up having a resource much larger than Segilola, and their is a maiden resource coming down the line, so that is a secondary value driver. I am a happy shareholder and looking forward to seeing what they find with the drills this season at both of their land packages. They also still have a 3rd project in Burkina Faso in their stable that will likely come back into play in 12-24 months once they move things along at the primary and secondary projects.