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Thor Explorations Ltd

www: www.thorexpl.com   email: info@thorexpl.com
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
CVE:THX CAD
OTCMKTS:THXPF USD

Description

Thor Explorations Ltd are a gold focused mid-tier producer with one mine in development in Nigeria and two exploration properties. They have approximately 2Moz. of gold in the reserves and resources category of which 1Moz. are in the measured and indicated category. They have a market capitalisation of ~C$126.94M which is a fall of roughly 26% over the last eight months. As of 08/24/2023 they have ~C$20M debt and ~C$8.01M cash. They have 654M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 08/21/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
MCap (FD): $171.71M $126.94M 08/21/2023 $-44.77M
Total Assets: $151.36M $149.19M 08/21/2023 $-2.17M
Total Liabilities: $107.06M $105.53M 08/21/2023 $-1.53M
Current Assets: $17.72M $17.47M 08/21/2023 $-0.25M
Current Liabilities: $62.02M $61.13M 08/21/2023 $-0.89M
Total Debt: $59.07M $20.38M 08/24/2023 $-38.69M
Cash: $11.08M $8.01M 08/24/2023 $-3.07M
Enterprise Value: $219.70M $139.31M 06/01/1974 $-80.39M
Cash Flow: $44.51M $80.28M never $35.77M
Cash Flow Multiple: 3.86 1.58 never -2.28
Net Debt to
Cash Flow Ratio:
1.08 0.15 never -0.92
Finance within 1 year: Yes Yes 08/21/2023 n/a
Misc 08/21/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 654,000,000 654,000,000 08/21/2023 0
Shares (FD): 684,000,000 684,000,000 08/21/2023 0
Insider Ownership: n/a n/a never n/a
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2021 08/21/2023 n/a
Production (Gold Eq Oz.): (guess) 
90,000
(guess) 
90,000
08/21/2023 0
Production (Silver Eq Oz.): (guess) 
7,321,340
(guess) 
7,573,841
08/21/2023 252,502
Initial CapEx (Outstanding): $87.00M
50.67% of MCap
$87.00M
68.54% of MCap
08/21/2023 $0.00M
Funding Option: n/a n/a 08/21/2023 n/a
Documentation: none PRODUCER 03/24/2024 n/a
Future MCap Modifier: 0.15
Producer: Average
0.15
Producer: Average
08/21/2023 0
Cash Flow Multiplier: 6 6 08/21/2023 0.00

Resource Data

GOLD 08/21/2023
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 08/21/2023 0.00M
Measured & Indicated: 1.00M 1.00M 08/21/2023 0.00M
Inferred: 1.00M 1.00M 08/21/2023 0.00M
Reserves & Resources: 2.00M 2.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 0.36M 0.36M 08/21/2023 0.00M
Measured & Indicated: 0.79M 0.79M 08/21/2023 0.00M
Inferred: 0.45M 0.45M 08/21/2023 0.00M
Reserves & Resources: 1.24M 1.24M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
90,000oz.
(guess) 
90,000oz.
08/21/2023 0oz.
Cash Cost: $900 $950 08/24/2023 $50.00
Extra Operating Cost: $500 $500 08/21/2023 $0.00
G
R
A
D
E
Underground (Avg): 3.80 g/t 5.00 g/t 03/24/2024 1.20 g/t
Open Pit (Avg): n/a 3.00 g/t 03/24/2024 3.00 g/t
Recovery Rate: (CG)  90.00% (CG)  90.00% 03/24/2024 0.00%
F
U
T
U
R
E
Proven & Probable: 1.50M 1.50M 08/21/2023 0.00M
Annual Production: 90,000oz. 90,000oz. 08/21/2023 0oz.
Cash Cost: $950 $1,000 08/24/2023 $50
Extra Operating Cost: $500 $500 08/21/2023 $0
SILVER 08/21/2023
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 08/21/2023 0.00M
Measured & Indicated: n/a n/a 08/21/2023 0.00M
Inferred: n/a n/a 08/21/2023 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 08/21/2023 0.00M
Measured & Indicated: n/a n/a 08/21/2023 0.00M
Inferred: n/a n/a 08/21/2023 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 08/21/2023 $0.00
Extra Operating Cost: n/a n/a 08/21/2023 $0.00
G
R
A
D
E
Underground (Avg): n/a n/a 08/21/2023 n/a
Open Pit (Avg): n/a n/a 08/21/2023 n/a
Recovery Rate: n/a n/a 08/21/2023 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 08/21/2023 0.00M
Annual Production: n/a n/a 08/21/2023 n/a
Cash Cost: n/a n/a 08/21/2023 n/a
Extra Operating Cost: n/a n/a 08/21/2023 n/a

Property

Last Analysis Data  (08/21/2023)
Stage Name Owned Au Ag Cu Notes
Exp Hounde 100% show
Early exploration
Dev Segilola 100% show
500,000 oz resource.
Exp Douta 70% show
Early exploration
Total Land Package Size (ha): 50,000  
Current Data
Stage Name Owned Au Ag Cu Notes
Exp Hounde 100% show
Early exploration
Dev Segilola 100% show
500,000 oz resource.
Exp Douta 70% show
Early exploration
Total Land Package Size (ha): 50,000  

Profitability (by resource)

Proven &
Probable
08/21/2023
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 1.12M
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 1.01M
Maximum Profit (Gold): $178.06M $321.12M n/a $143.06M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $178.06M $321.12M n/a $143.06M
Max Profit / Current MCap: 1.037 2.530 n/a 1.493
Max Profit Per Share (Gold): $0.26 $0.47 n/a $0.21
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.26 $0.47 n/a $0.21
Total Free Profit Per Share: $0.00 $0.21 n/a $0.21
FD MCap / Gold Eq.: $476.97 $352.60 n/a $-124.37
FD MCap / Silver Eq.: $5.86 $4.19 n/a $-1.67
FD MCap / Per Metal
as % Spot Price:
25.18% 15.06% n/a -10.12%
Measured &
Indicated
08/21/2023
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 2.81M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.79M 0.79M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 2.22M
Maximum Profit (Gold): $391.72M $706.46M n/a $314.74M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $391.72M $706.46M n/a $314.74M
Max Profit / Current MCap: 2.281 5.565 n/a 3.284
Max Profit Per Share (Gold): $0.57 $1.03 n/a $0.46
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.57 $1.03 n/a $0.46
Total Free Profit Per Share: $0.23 $0.78 n/a $0.55
FD MCap / Gold Eq.: $216.80 $160.27 n/a $-56.53
FD MCap / Silver Eq.: $2.67 $1.90 n/a $-0.76
FD MCap / Per Metal
as % Spot Price:
11.44% 6.84% n/a -4.60%

Reserves &
Resources
08/21/2023
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.): 2.00M 2.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 5.61M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.24M 1.24M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 3.48M
Maximum Profit (Gold): $614.29M $1,107.86M n/a $493.57M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $614.29M $1,107.86M n/a $493.57M
Max Profit / Current MCap: 3.578 8.728 n/a 5.150
Max Profit Per Share (Gold): $0.90 $1.62 n/a $0.72
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.90 $1.62 n/a $0.72
Total Free Profit Per Share: $0.56 $1.36 n/a $0.81
FD MCap / Gold Eq.: $138.25 $102.20 n/a $-36.05
FD MCap / Silver Eq.: $1.70 $1.21 n/a $-0.49
FD MCap / Per Metal
as % Spot Price:
7.30% 4.36% n/a -2.93%

Future Valuation (Cash Flow & Totals)

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