Thor Explorations Ltd (TSXV:THX)

Q1 2026 Thor Explorations Ltd Earnings Call Transcript

May 26, 2026 / 01:30 PM GMT

Release Date Price: C$1.4 (+0.72%)

Transcript

Key Points

Positve

Thor Explorations Ltd (THXPF) has achieved a strong financial position with a net cash position of $177.8 million and no debt.
The company reported a high quarterly gold price of over $4,800 per ounce, contributing to robust revenue growth.
Thor Explorations Ltd (THXPF) has successfully maintained low all-in sustaining costs, finishing Q1 below $1,000 per ounce.
The company has increased its stake in the Duta project in Senegal to 100%, with promising project economics and a significant resource base.
Thor Explorations Ltd (THXPF) is actively expanding its exploration activities in Cote d'Ivoire, with encouraging early-stage results and a significant budget allocated for exploration.

Negative

Mine production has slightly decreased as operations move to the southern end of the open pit, impacting overall output.
The company faces challenges in transitioning to underground mining, with ongoing efforts to update reserves and conduct scoping studies.
There is a lower production guidance for the current year compared to the previous year, affecting overall output expectations.
Thor Explorations Ltd (THXPF) has not yet explored listing on additional major exchanges, which could limit its market exposure and liquidity.
The company has unsold gold bullion, which could impact immediate cash flow and financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

THX.V - Thor Explorations Ltd
Q1 2026 Thor Explorations Ltd Earnings Call
May 26, 2026 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, and welcome to the Thor Explorations Limited investor presentation. Throughout today's recorded presentation, attendees will be in listen-only mode. Questions are encouraged and can be submitted via the Q&A tab situated on the right-hand side of your screen. Before we begin, I'd just like to submit the following poll, which I kindly ask you to submit your responses to. I'd now like to hand over to CEO Shagan Lawson. Shagan, good afternoon.

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Unidentified_2 [2]
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Good afternoon, Jack.

Thank you.

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