Canada's Thor Explorations reports Q2 revenue of $77 million; maintains production forecast range

Thor Explorations

16/07/2026 07:10

Overview
Canada-based gold miner's Q2 revenue was $77.3 mln from gold sales of 17,050 oz
Gold poured in Q2 totaled 19,153 oz, down from 20,256 oz in Q1
Company maintained FY 2026 production and cost guidance; next dividend set for August 2026

Outlook
Company maintains FY 2026 production guidance at 75,000 to 85,000 oz of gold
Thor Explorations maintains FY 2026 all-in sustaining cost guidance at $1,000 to $1,200 per oz
Company expects to release drilling results from Nigeria, Senegal and Côte d'Ivoire in Q3 2026

Result Drivers
SEGILOLA MINE OPERATIONS - Q2 gold poured was 19,153 oz, with production from 240,769 tonnes milled at an average grade of 2.57 g/t and recovery of 93.3%
EXPLORATION AND DRILLING - Co focused on underground resource drilling at Segilola and extensive drilling programs in Nigeria, Senegal, and Côte d'Ivoire

Company press release: ID:nRSP5210Ma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$77.30 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the gold peer group is "buy"
Wall Street's median 12-month price target for Thor Explorations Ltd is C$2.60, about 149.5% above its July 15 closing price of C$1.04
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 4 three months ago

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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.)