Vancouver, British Columbia--(Newsfile Corp. - November 27, 2023) - Thor Explorations Ltd. (TSXV: THX) (AIM: THX) ("Thor Explorations", "Thor" or the "Company") is pleased to provide an operational and financial review for its Segilola Gold mine, located in Nigeria ("Segilola"), and for the Company's mineral exploration properties located in Nigeria and Senegal for three ("Q3 2023" or the "Period") and nine months to September 30, 2023.

Financial Highlights of Q3 2023 and nine months to Sept 2023

US$ Q3 2023 Q3 2022 Nine months
to Sept 2023 Nine months
to Sept 2022
Revenue $36.6m $55.7m $118.2m $121.9m
AISC* $1392/oz $1378/oz $1321/oz $1273/oz
Cash operating cost $1193/oz $1137/oz $1005/oz $991/oz
EBITDA $11.8m $17.8m $47.0m $49.0m
Net Profit $2.3m $7.6m $14.5m $17.8m
Cash at end of period $8.3m $2.5m - -
Net Debt $19.4m $40.7m - -


* all-in sustaining cost

Operational Highlights for Q3 2023

Gold production targets on track for FY23 guidance
see & read more on
https://www.newsfilecorp.com/release/188702/Thor-Explorations-Announces-Financial-and-Operating-Results-for-the-Three-and-Nine-Months-Ending-September-30-2023