Thor Explorations LTD (AIM:THX) delivered a strong Q3 2025 performance, underscoring sustained operational momentum and robust financial results across its West African gold portfolio. The company reported solid production from its flagship Segilola Gold Mine in Nigeria and remains on track to close the year at the top end of its 90,000–95,000 ounce production guidance, supported by disciplined cost control with AISC narrowed to $900–$1,000/oz. Q3 highlights included $70 million in revenue, $51.8 million in EBITDA, and $43.1 million in net profit, alongside a strengthened balance sheet with $81 million in net cash and a working-capital surplus of $96.6 million. Thor’s expanding order book of exploration catalysts includes ongoing underground drilling at Segilola aimed at extending mine life, updated resources expected in Q1 2026, and active satellite pit development. In Senegal, the company advanced its Douta Project to the final stages of its preliminary feasibility study, increased ownership to 100% of the main licence, and confirmed promising drill results at the Baraka 3 discovery. In Côte d’Ivoire, Thor accelerated drilling across its three licences, progressing toward a maiden resource at the Gbeui Project while identifying multiple high-grade targets at Marahui. Supported by strong cash flow, rising gold prices, and expanding exploration programmes across all jurisdictions, Thor Explorations enters Q4 positioned for margin growth, enhanced liquidity, and multiple near-term value catalysts—reinforcing a compelling growth strategy for investors seeking exposure to West African gold production and development.