Thor Explorations Ltd. Completes 100 % Acquisition of the Douta Project and Secures Bousankhoba Permit

Thor Explorations Ltd. (TSX V: THXPF) announced that it has increased its interest in the Douta gold project to full ownership, bringing the company’s stake to 100 %. The move follows a prior 66 % acquisition of the property earlier in the year and positions Thor as the sole operator of the project located in Southeast Senegal.

In the same announcement, the company confirmed the acquisition of the Bousankhoba permit, a key regulatory approval required for exploration and development activities in the region. The permit covers a tract of land adjacent to the Douta project and is expected to enhance Thor’s resource base and streamline future exploration programs.

Impact on Operations

  • Full Control of Douta – With complete ownership, Thor can align the project’s development schedule with its broader West African strategy without needing to coordinate with other stakeholders.
  • Expanded Footprint – The Bousankhoba permit adds new acreage to Thor’s portfolio, providing additional opportunities for mineral discovery and potentially accelerating resource qualification.
  • Operational Synergies – Consolidating the Douta and Bousankhoba sites under a single management structure may reduce operating costs and improve logistics efficiency in the region.

Market Reaction

Shares of Thor Explorations traded at $0.91 on Friday, a modest 0.6 % decline from the previous close. The company’s short interest fell sharply in August, dropping from 11,100 shares on July 31 to 7,600 shares on August 15, a 31.5 % reduction. The short‑interest ratio, calculated against an average daily volume of 38,600 shares, stands at 0.2 days, indicating a relatively low level of short exposure.

Despite the recent price movement, Thor’s market capitalization remains at approximately CAD 850 million, and the company’s price‑to‑earnings ratio is 4.47. The 52‑week range for the stock is CAD 0.26 to CAD 1.31, with the current close at CAD 1.24.

Context

Thor Explorations Ltd. is a Canadian‑listed gold exploration and development company with operations primarily in West Africa. Its flagship projects include the Segilola Gold Project in Nigeria and current ventures in Senegal and Burkina Faso. The company’s focus on gold exploration aligns with its long‑term objective of advancing mineral properties from discovery to commercial production.

The recent acquisitions are consistent with Thor’s strategy to consolidate ownership of promising assets, reduce exposure to external partners, and strengthen its position in high‑potential regions. Investors and analysts will likely monitor the company’s progress on resource development and any further regulatory approvals that could unlock additional value in the Douta and Bousankhoba areas.