Thor Explorations Announces Q3 2025 Operating Update

Core Insights - Thor Explorations Ltd. reported strong operational performance for Q3 2025, maintaining production and cost guidance for the year, with an average realized gold price of US$3,535 per ounce [7][8][5]. Q3 2025 Operational Highlights - Gold poured in Q3 totaled 22,617 ounces, with gold sales of 19,650 ounces generating revenue of US$69.5 million [5]. - The company milled 250,459 tonnes of ore at an average grade of 3.11 g/t, achieving a recovery rate of 94.3% [5]. - The ore stockpile increased by 2,977 ounces to 44,069 ounces at an average grade of 0.83 g/t [5]. - The company maintained its FY 2025 production guidance range of 85,000 to 95,000 ounces of gold and AISC guidance of $800 to $1,000 per ounce [5]. Exploration Activities - Ongoing drilling programs at Segilola and scout drilling in Nigeria are continuing, with additional drilling planned for the Douta Project in Senegal and the Guitry and Marahui licenses in Côte d'Ivoire [5][8]. - The company secured full ownership of the Douta Project, enhancing its long-term development strategy [16][19]. - Significant drill results were reported, including high-grade intersections that support the geological model [13][25]. Dividend Information - The company will maintain its dividend policy, with a third quarterly dividend payment of C$0.0125 per share scheduled for November 14, 2025 [4][6]. - Key dates for the dividend include the ex-dividend date and record date on October 24, 2025 [7]. Future Outlook - The company plans to complete a maiden Mineral Resource Estimate at the Guitry Project and an updated Mineral Resource Estimate and Pre-Feasibility Study at the Douta Project by the end of 2025 [5][19]. - Exploration activities are set to resume in October, coinciding with the start of the dry season, to accelerate the evaluation of identified geochemical targets [19][23].