Asset Summary
| Asset | Segilola |
| Interest | 1.5% net smelter return |
| Commodity | Gold |
| Location | Nigeria |
| Stage | Construction |
| Counterparty | Thor Explorations Ltd (TSX-V:THX) |
| Additional Notes | The royalty is a 1.5% NSR capped at US$3.5M |
Asset Highlights
- A high-grade, open pit gold operation with first gold expected in Q2 2021, according to Thor
- Open pit probable gold reserves of 405,000oz @ 4.2g/t (at 0.77g/t cut-off, resource estimate dated 4 February 2019)
- Expected to produce approximately 80,000oz of gold per annum over an initial 5-year life of mine
- Thor announced full funding of the project after signing definitive documents in April 2020 for a total expected fundraising of US$104,500,000 led by the Africa Finance Corporation.
- Further information can be found at this website: https://www.thorexpl.com/