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Thor Explorations Ltd

www: www.thorexpl.com   email: info@thorexpl.com
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
CVE:THX CAD

Description

Thor Explorations Ltd are a gold focused junior, late stage development company with one mine in development in Nigeria and two exploration properties. They have approximately 1Moz. of gold in the reserves and resources category of which 0.5Moz. are in the measured and indicated category. They have a market capitalisation of ~C$50.3M which is a fall of roughly 8% over the last eight months. As of 08/03/2019 they have ~C$39M debt and ~C$0.36M cash. They have 370M shares outstanding and trade on the Canadian Venture Exchange.

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General Details

Financial 08/03/2019
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $54.91M $50.30M 08/03/2019 $-4.61M
Total Assets: $29.50M $27.87M 08/03/2019 $-1.63M
Total Liabilities: $2.72M $2.57M 08/03/2019 $-0.15M
Current Assets: $0.45M $0.43M 08/03/2019 $-0.03M
Current Liabilities: $2.72M $2.57M 08/03/2019 $-0.15M
Total Debt: $40.85M $38.59M 08/03/2019 $-2.26M
Cash: $0.38M $0.36M 08/03/2019 $-0.02M
Enterprise Value: $95.38M $88.53M 10/21/1972 $-6.85M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: Yes Yes 08/03/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 08/03/2019 0.00%
Misc 08/03/2019
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 370,000,000 370,000,000 08/03/2019 0
Shares (FD): 440,000,000 440,000,000 08/03/2019 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2021 08/03/2019 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 08/03/2019 0
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 08/03/2019 0
Initial CapEx (Outstanding): $87.00M
158.43% of Mkt.Cap		 $87.00M
172.95% of Mkt.Cap 		08/03/2019 $0.00M
Funding Option: n/a n/a 08/03/2019 n/a
Documentation: none FS 08/03/2019 n/a
Value Adjustment: -25% -25% never 0%

Resource Data

GOLD 08/03/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 0.40M 0.40M 08/03/2019 0.00M
Measured & Indicated: 0.50M 0.50M 08/03/2019 0.00M
Inferred: 0.50M 0.50M 08/03/2019 0.00M
Reserves & Resources: 1.00M 1.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.36M 0.36M 08/03/2019 0.00M
Measured & Indicated: 0.43M 0.43M 08/03/2019 0.00M
Inferred: 0.23M 0.23M 08/03/2019 0.00M
Reserves & Resources: 0.66M 0.66M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 08/03/2019 $0.00
Extra Operating Cost: n/a n/a 08/03/2019 $0.00
Average Grade: 3.80 g/t 3.80 g/t 08/03/2019 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 08/03/2019 0.00%
F
U
T
U
R
E		 Proven & Probable: 0.60M 0.60M 08/03/2019 0.00M
Annual Production: 60,000oz. 60,000oz. 08/03/2019 0oz.
Cash Cost: $650 $650 08/03/2019 $0
Extra Operating Cost: $400 $400 08/03/2019 $0
SILVER 08/03/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 08/03/2019 0.00M
Measured & Indicated: n/a n/a 08/03/2019 0.00M
Inferred: n/a n/a 08/03/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 08/03/2019 0.00M
Measured & Indicated: n/a n/a 08/03/2019 0.00M
Inferred: n/a n/a 08/03/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 08/03/2019 $0.00
Extra Operating Cost: n/a n/a 08/03/2019 $0.00
Average Grade: n/a n/a 08/03/2019 n/a
Recovery Rate: n/a n/a 08/03/2019 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 08/03/2019 0.00M
Annual Production: n/a n/a 08/03/2019 n/a
Cash Cost: n/a n/a 08/03/2019 n/a
Extra Operating Cost: n/a n/a 08/03/2019 n/a

Property

Last Analysis Data  (08/03/2019)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Western Africa, Nigeria Segilola 100% (guess) n/a Both show
500,000 oz resource.
Exploration Western Africa, Burkina Faso Hounde 20% (guess) 5,000 n/a show
JV property
Exploration Western Africa, Senegal Douta 70% (guess) n/a n/a show
Early exploration
Total Land Package Size (ha): 5,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Western Africa, Nigeria Segilola 100% (guess) n/a Both show
500,000 oz resource.
Exploration Western Africa, Burkina Faso Hounde 20% (guess) 5,000 n/a show
JV property
Exploration Western Africa, Senegal Douta 70% (guess) n/a n/a show
Early exploration
Total Land Package Size (ha): 5,000  

Profitability (by resource)

Proven &
Probable		 08/03/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.40M 0.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 8.23M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.36M 0.36M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 7.41M
Maximum Profit (Gold): $73.71M $120.94M n/a $47.23M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $73.71M $120.94M n/a $47.23M
Max Profit / Current MCap: 1.342 2.404 n/a 1.062
Max Profit Per Share (Gold): $0.17 $0.27 n/a $0.11
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.17 $0.27 n/a $0.11
Total Free Profit Per Share: $0.00 $0.11 n/a $0.11
FD Mkt. Cap / Gold Eq.: $152.54 $139.74 n/a $-12.80
FD Mkt. Cap / Silver Eq.: $1.72 $1.28 n/a $-0.44
FD Mkt. Cap / Per Metal
as % Spot Price:		 10.59% 8.27% n/a -2.32%
Measured &
Indicated		 08/03/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.50M 0.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 10.29M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.43M 0.43M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 8.89M
Maximum Profit (Gold): $88.45M $145.13M n/a $56.68M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $88.45M $145.13M n/a $56.68M
Max Profit / Current MCap: 1.611 2.885 n/a 1.274
Max Profit Per Share (Gold): $0.20 $0.33 n/a $0.13
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.20 $0.33 n/a $0.13
Total Free Profit Per Share: $0.04 $0.17 n/a $0.13
FD Mkt. Cap / Gold Eq.: $127.12 $116.45 n/a $-10.67
FD Mkt. Cap / Silver Eq.: $1.43 $1.06 n/a $-0.37
FD Mkt. Cap / Per Metal
as % Spot Price:		 8.83% 6.89% n/a -1.94%

Reserves &
Resources		 08/03/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.00M 1.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 20.58M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.66M 0.66M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 13.52M
Maximum Profit (Gold): $134.52M $220.72M n/a $86.20M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $134.52M $220.72M n/a $86.20M
Max Profit / Current MCap: 2.450 4.388 n/a 1.938
Max Profit Per Share (Gold): $0.31 $0.50 n/a $0.20
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.31 $0.50 n/a $0.20
Total Free Profit Per Share: $0.14 $0.34 n/a $0.20
FD Mkt. Cap / Gold Eq.: $83.58 $76.57 n/a $-7.02
FD Mkt. Cap / Silver Eq.: $0.94 $0.70 n/a $-0.24
FD Mkt. Cap / Per Metal
as % Spot Price:		 5.80% 4.53% n/a -1.27%

Future Valuation (Cash Flow & Totals)

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