Gold mining firm emerges most promising coy at mining Indaba

A Nigerian gold mining firm operating in Osun state, Thor Exploration Limited (also known as Segilola), has emerged winner of the 2018 Investment Battlefield for its gold exploration project in the south west state.
The company was selected as the most promising of the 22 junior mining companies that participated in the Investor Battlefield Competition, after beating Algold Resources, a Mauritanian gold explorer and developing company to the second place at the just concluded 2018 Mining Indaba conference held in South Africa.
Thor and Segilola emerged victorious over all participants with Segilola being declared the “Best Emerging Mining Project in Africa”.
The company, which has considerable interest in some West African countries, is also listed on the Toronto Stock Exchange. The award came just as Nigeria was named among the top ten mining designations for 2019.
Thor Exploration Limited CEO, Segun Lawson, accepted the award after presenting the project to a panel of judges made up of leading analysts and investors Wednesday night in Cape Town, South Africa.
Head of Nigerian delegation to the conference and Minister of Mines and Steel Development, Dr. Kayode Fayemi, who applauded the developments stress that the various reforms being put in place by the federal government were designed to create enabling environment for thriving mining activities.
“We are looking forward to more cheery news of great exploits. We want to be a big mining destination, in addition to our dual mandate of job creation and economic growth,” the minister said.
Blueprint reports that Thor’s flagship asset is its 100 per cent owned Segilola Gold Project in Osun state. Thor has been developing the Segilola Gold Project since it acquired it 15 months ago and aims to break ground this year by commencing construction.
“The economic robustness of the project, the progressive Mining Code of Nigeria and the regulatory framework of the Ministry of Mines and Steel Development as well as the potential to increase its size through further exploration were the key critical factors considered by the panel,” Lawson said after grabbing the award.
General Manager, Global Business Report, Alice Pascoletti, said Nigeria’s inclusion among the top mining destinations for 2019, was premised on factors such as legal and regulatory framework, ease of doing business, risk profile as well as experiences of operators in the country.
General Manager, Global Business Report, Alice Pascoletti, said Nigeria’s inclusion among the top mining destinations for 2019, was premised on factors such as legal and regulatory framework, ease of doing business, risk profile as well as experiences of operators in the country.
Thor’s CEO, Segun Lawson, is a 39-year-old geologist who was educated in the United Kingdom. He had a brief stint in investment banking before venturing into mining when he founded the company some eight years ago.
Thor explorations currently employs 52 people in the three West African countries, but Lawson said this would rise to about 250 once production starts at the Segilola Gold project, which is its flagship.