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

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

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

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

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(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.)