Thor Explorations Ltd
Thor Explorations Ltd., together with its subsidiaries, operates as a gold producer and explorer. The company also explores for silver deposits. Its flagship property is the Segilola Gold Project in Nigeria. Thor Explorations Ltd. was incorporated in 1968 and is based in Vancouver, Canada.
Thor Explorations Ltd (THXPF) - Net Assets
Latest net assets as of September 2025: $315.57 Million USD
Based on the latest financial reports, Thor Explorations Ltd (THXPF) has net assets worth $315.57 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($346.41 Million) and total liabilities ($30.85 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $315.57 Million |
| % of Total Assets | 91.1% |
| Annual Growth Rate | 36.57% |
| 5-Year Change | 158.3% |
| 10-Year Change | 1384.66% |
| Growth Volatility | 151.37 |
Thor Explorations Ltd - Net Assets Trend (2001–2024)
This chart illustrates how Thor Explorations Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Thor Explorations Ltd (2001–2024)
The table below shows the annual net assets of Thor Explorations Ltd from 2001 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $201.25 Million | +79.38% |
| 2023-12-31 | $112.19 Million | +29.28% |
| 2022-12-31 | $86.78 Million | +15.44% |
| 2021-12-31 | $75.17 Million | -3.52% |
| 2020-12-31 | $77.91 Million | +48.17% |
| 2019-12-31 | $52.58 Million | +22.76% |
| 2018-12-31 | $42.83 Million | +29.40% |
| 2017-12-31 | $33.10 Million | +4.00% |
| 2016-12-31 | $31.83 Million | +134.82% |
| 2015-12-31 | $13.56 Million | +8.19% |
| 2014-12-31 | $12.53 Million | +0.91% |
| 2013-12-31 | $12.42 Million | +24.20% |
| 2012-12-31 | $10.00 Million | +76.13% |
| 2011-12-31 | $5.68 Million | +95.73% |
| 2010-12-31 | $2.90 Million | -2.54% |
| 2009-12-31 | $2.98 Million | +71.37% |
| 2008-12-31 | $1.74 Million | -14.60% |
| 2007-12-31 | $2.03 Million | +625.59% |
| 2006-12-31 | $280.21K | +182.98% |
| 2005-12-31 | $99.02K | -40.38% |
| 2004-12-31 | $166.09K | +411.63% |
| 2003-12-31 | $32.46K | -67.31% |
| 2002-12-31 | $99.30K | -35.99% |
| 2001-12-31 | $155.12K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thor Explorations Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 12465287900.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $121.57 Million | 60.41% |
| Common Stock | $81.63 Million | 40.56% |
| Other Comprehensive Income | $-3.87 Million | -1.92% |
| Other Components | $1.92 Million | 0.95% |
| Total Equity | $201.25 Million | 100.00% |
Thor Explorations Ltd Competitors by Market Cap
The table below lists competitors of Thor Explorations Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Yarward Electronics Shandong Co. Ltd. A
SHE:301337
|
$152.94 Million |
|
Pulsar Helium Inc.
V:PLSR
|
$152.97 Million |
|
Meier Tobler Group AG
SW:MTG
|
$152.99 Million |
|
Genbyte Technology Inc
SHE:003028
|
$153.09 Million |
|
ASTON MART.LA.UADR LS-001
F:A5S0
|
$152.83 Million |
|
TMC the metals company Inc Warrants
NASDAQ:TMCWW
|
$152.69 Million |
|
EnTie Commercial Bank Ltd
TW:2849
|
$152.68 Million |
|
NOCIL Limited
NSE:NOCIL
|
$152.64 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thor Explorations Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 112,194,770 to 201,253,000, a change of 89,058,230 (79.4%).
- Net income of 91,172,000 contributed positively to equity growth.
- Other comprehensive income decreased equity by 2,254,871.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $91.17 Million | +45.3% |
| Other Comprehensive Income | $-2.25 Million | -1.12% |
| Other Changes | $141.10K | +0.07% |
| Total Change | $- | 79.38% |
Book Value vs Market Value Analysis
This analysis compares Thor Explorations Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.05x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 20.61x to 1.05x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-12-31 | $0.02 | $0.32 | x |
| 2002-12-31 | $0.01 | $0.32 | x |
| 2003-12-31 | $0.00 | $0.32 | x |
| 2004-12-31 | $0.01 | $0.32 | x |
| 2005-12-31 | $0.01 | $0.32 | x |
| 2006-12-31 | $0.02 | $0.32 | x |
| 2007-12-31 | $0.09 | $0.32 | x |
| 2008-12-31 | $0.05 | $0.32 | x |
| 2009-12-31 | $0.15 | $0.32 | x |
| 2010-12-31 | $0.08 | $0.32 | x |
| 2011-12-31 | $0.15 | $0.32 | x |
| 2012-12-31 | $0.15 | $0.32 | x |
| 2013-12-31 | $0.14 | $0.32 | x |
| 2014-12-31 | $0.13 | $0.32 | x |
| 2015-12-31 | $0.13 | $0.32 | x |
| 2016-12-31 | $0.19 | $0.32 | x |
| 2017-12-31 | $0.11 | $0.32 | x |
| 2018-12-31 | $0.13 | $0.32 | x |
| 2019-12-31 | $0.14 | $0.32 | x |
| 2020-12-31 | $0.14 | $0.32 | x |
| 2021-12-31 | $0.12 | $0.32 | x |
| 2022-12-31 | $0.13 | $0.32 | x |
| 2023-12-31 | $0.17 | $0.32 | x |
| 2024-12-31 | $0.31 | $0.32 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thor Explorations Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 45.30%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 47.21%
- • Asset Turnover: 0.69x
- • Equity Multiplier: 1.39x
- Recent ROE (45.30%) is above the historical average (-20.06%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | -39.44% | 0.00% | 0.00x | 1.32x | $-76.70K |
| 2002 | -56.21% | 0.00% | 0.00x | 1.22x | $-65.75K |
| 2003 | -205.87% | 0.00% | 0.00x | 2.97x | $-70.08K |
| 2004 | -39.96% | 0.00% | 0.00x | 1.12x | $-82.98K |
| 2005 | -67.74% | 0.00% | 0.00x | 1.37x | $-76.98K |
| 2006 | -25.45% | 0.00% | 0.00x | 1.05x | $-99.33K |
| 2007 | -16.67% | 0.00% | 0.00x | 1.01x | $-542.25K |
| 2008 | -18.24% | 0.00% | 0.00x | 1.01x | $-490.42K |
| 2009 | -13.73% | 0.00% | 0.00x | 1.01x | $-706.20K |
| 2010 | -2.61% | 0.00% | 0.00x | 1.01x | $-365.66K |
| 2011 | -16.37% | 0.00% | 0.00x | 1.07x | $-1.50 Million |
| 2012 | -11.52% | 0.00% | 0.00x | 1.05x | $-2.15 Million |
| 2013 | -6.65% | 0.00% | 0.00x | 1.04x | $-2.06 Million |
| 2014 | -3.82% | 0.00% | 0.00x | 1.05x | $-1.72 Million |
| 2015 | -3.40% | 0.00% | 0.00x | 1.05x | $-1.82 Million |
| 2016 | -2.66% | 0.00% | 0.00x | 1.08x | $-4.03 Million |
| 2017 | -7.99% | 0.00% | 0.00x | 1.09x | $-5.96 Million |
| 2018 | -9.79% | 0.00% | 0.00x | 1.06x | $-8.48 Million |
| 2019 | -9.29% | 0.00% | 0.00x | 1.02x | $-10.15 Million |
| 2020 | -4.97% | 0.00% | 0.00x | 1.82x | $-11.66 Million |
| 2021 | -3.34% | -32.14% | 0.03x | 3.50x | $-10.03 Million |
| 2022 | 29.27% | 15.38% | 0.74x | 2.57x | $16.72 Million |
| 2023 | 9.69% | 7.70% | 0.55x | 2.31x | $-350.03K |
| 2024 | 45.30% | 47.21% | 0.69x | 1.39x | $71.05 Million |
Industry Comparison
This section compares Thor Explorations Ltd's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $1,956,755,866
- Average return on equity (ROE) among peers: -68.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thor Explorations Ltd (THXPF) | $315.57 Million | -39.44% | 0.10x | $152.89 Million |
| Almadex Minerals Ltd (AAMMF) | $14.43 Million | -15.31% | 0.02x | $11.47 Million |
| Allied Gold Corporation (AAUC) | $111.36 Million | -6.66% | 4.92x | $1.61 Billion |
| Aero Energy Limited (AAUGF) | $14.72 Million | -5.86% | 0.05x | $613.34K |
| Abcourt Mines Inc (ABMBF) | $542.08K | -7.78% | 0.16x | $27.58 Million |
| Aben Resources Ltd (ABNAF) | $925.43K | -59.62% | 0.09x | $1.17 Million |
| Advance Gold Corp (ADGCF) | $206.54K | -11.57% | 1.00x | $480.91K |
| Agnico Eagle Mines Limited (AEM) | $19.42 Billion | 10.18% | 0.48x | $105.00 Billion |
| Affinity Gold Corp (AFYG) | $241.37K | -497.12% | 0.10x | $4.68K |
| Andes Gold Corp (AGCZ) | $648.20K | -54.33% | 0.04x | $0.95 |
| Antioquia Gold Inc (AGDXF) | $1.57 Million | -38.90% | 0.28x | $1.44 Million |