Who is the owner of Segilola Mining Company?


According to my Findings, Segilola Mining Company is located in Lagos Nigeria. 

One Mr Segun Lawson took over as the New Chief Executive officer and Director of the The Mining Company.  He has identified and lead all of Thor's acquisitions and financings and Thor's JV with Acacia Mining. He is a Co-founder of African Star Resources Incorporated where he served as an officer assisting with financing, corporate and business development activities.

The Company’s flagship project is the gold producing Segilola Gold Project located in Osun State, Nigeria, approximately 120 kilometres (“km”) northeast of Lagos. Segilola is projected to produce between 80,000 and 100,000 oz of gold in 2022 at an All in Sustaining Cost of US$850-950 per oz. The project is expected to produce approximately 100,000 ounces per year for the following four years.

Following an updated Mineral Resource and Mineral Reserve Estimate and improved Life of Mine plan announced in the first quarter of 2021, Segilola contains a high grade open pit probable reserve of 517,800 oz at 4.02 grams per tonne (“g/t”) within an open pit indicated MRE of 532,000 oz of gold grading at 4.5 g/t, and an underground indicated resource of 76,000 oz of gold grading at 6.1 g/t, with additional significant exploration upside potential.

The Segilola deposit comprises a system of stacked, steeply-dipping, parallel quartz-pegmatite veins which are characterised by wide-spread high-grade, sometimes visible, free-milling gold. The most recent drilling campaign focussed on converting in-pit inferred to indicated. Previous drilling beneath the base of the proposed open pit identified several steep shoot-structures which have been interpreted within the hanging wall lodes (Figure 4). The full potential of an underground resource has yet to be realised and ongoing exploration is planned to upgrade the current inferred underground resource to indicated and to test the continuation of the shoots at depth.

Having successfully built the Segilola Gold Project through the Covid-19 pandemic, The Company is now in production from its flagship project. After a production ramp-up phase in the fourth quarter of 2021 Thor has now moved into commercial production in and expects to produce 80,000 to 100,000 oz gold in 2022.


Credit: Governor Ifedolapo Osun

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