Thor Explorations Q3 revenue hits $81.7 mln; lowers full-year output guidance

By Reuters News


Overview

  • Nigeria gold miner's Q3 revenue totaled $81.7 mln, with gold sales of 19,000 oz

  • Company lowered FY 2026 production guidance due to severe rainfall impacting Segilola operations

  • Company will pay C$0.0125 per share quarterly dividend in November


Outlook

  • Company lowers FY 2026 gold production guidance to 70,000-72,000 oz from 75,000-85,000 oz

  • Company maintains FY 2026 AISC guidance at $1,000-$1,200 per oz

  • Company to continue exploration drilling and sampling across Nigeria, Senegal, and Côte d'Ivoire


Result Drivers

  • SEVERE RAINFALL - Co said exceptionally heavy rainfall at Segilola mine disrupted operations during the quarter

  • EXPLORATION RESULTS - Co reported encouraging high grade drilling results from Segilola and progress across exploration portfolio


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$81.70 mln


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 4 times the next 12-month earnings vs. a P/E of 3 three months ago


Reuters Recommended Reads

  • Oct 13 - AZZ raises annual outlook after record Q2 results beat estimates

  • Oct 12 - US lithium-ion battery maker Enovix's Q3 prelim revenue beats estimates, helped by defense demand

  • Oct 12 - France's LVMH nine-month revenue slips amid weak Q3 demand in China


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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