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Thor Explorations posts record H1 profit on strong gold prices and Segilola mine output

Company Fundamentals
11 Aug 2026
Proactive Investors
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Bullish
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Thor Explorations reported record revenue, EBITDA, and net profit for the first half of 2026, driven by high gold prices and strong production at its Segilola Gold Mine in Nigeria. Revenue rose to $151.9 million and net profit to $95.5 million, supported by disciplined cost management and robust operational performance. The company produced 39,409 ounces of gold in H1 and is actively exploring to extend the mine life and assess underground mining potential. Thor also advanced exploration in Senegal and Côte d’Ivoire, with ongoing drilling and government discussions to support future growth and investment decisions.

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