Canadian miner Thor Explorations posts higher Q3 profit on rising gold prices, cost control

Overview

• Thor Explorations Q3 revenue rises to $69.9 mln, net profit increases to $43.1 mln

• Gold production at Segilola increases to 22,617 oz in Q3 2025

• Company acquires full ownership of Douta Project in Senegal

Outlook

• Thor Explorations narrows 2025 production guidance to 90,000 - 95,000 oz

• Company revises 2025 AISC guidance to US$900 - US$1,000 per oz

• Thor plans to release Douta PFS in Q4 2025

Result Drivers

• GOLD RECOVERY - Improved process plant recovery performance to 94.3% contributed to strong Q3 results

• COST DISCIPLINE - Thor attributes net profit increase to cost discipline and operational efficiencies

• EXPLORATION ADVANCEMENT - Continued exploration activities at Segilola and Douta aimed at extending mine life and increasing resources

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the gold peer group is "buy"

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 4 three months ago

Press Release: ID:nRSR8881Ha

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