Theta Gold Mines

Theta Gold Mines Limited (ASX: TGM) is an Australian-based gold development company focused on reviving a historic goldfield in Mpumalanga Province, South Africa. Incorporated in 2008 as Meridien Resources Limited, the company became Stonewall Resources in 2012 and subsequently rebranded to Theta Gold Mines in December 2018 to align with its core asset, the Theta Project. The company's headquarters are in Sydney, Australia.

The company's primary operation is the Transvaal Gold Mining Estates (TGME) project, located near Pilgrim's Rest. This project encompasses a vast 62,000-hectare area that includes 43 historical mines with a legacy of producing over 6.7 million ounces of gold since the late 19th century. Theta's strategy is to transition from an exploration entity to a gold producer by restarting these historical, near-surface mines. The business model centers on developing a low-capital, scalable operation by leveraging existing infrastructure, including permitted gold plants and tailings dams. Revenue will be generated from the sale of refined gold, produced as doré bars on-site from processed ore.

The TGME project is being developed in phases. The initial focus is on four key underground mines: Beta, Frankfort, CDM, and Rietfontein. A definitive feasibility study completed in July 2022 outlined a 12.9-year mine life for this first phase, with a target production of 1.24 million ounces of contained gold. The company is also advancing pre-construction activities for a new centralized processing plant designed to handle ore from underground operations, open-cut pits, and surface rock dumps. Theta Gold Mines secures funding through equity placements and debt financing facilities to advance the TGME project toward its production target, anticipated by early 2027.

The leadership team includes Executive Chairman Bill Guy, a geologist with over 28 years of experience in resource development. His background in project development and corporate finance is central to steering the company's transition to production. The board comprises individuals with extensive backgrounds in geology, mining operations, and corporate finance, contributing crucial expertise to the project's advancement.

Keywords: gold mining, gold development, South Africa mining, Mpumalanga, Transvaal Gold Mining Estates, TGME Project, gold exploration, historical mines, precious metals, resource development, open-pit mining, underground mining, gold processing, Doré bars, Australian Securities Exchange, junior miner, resource revitalization, Pilgrim's Rest, goldfield, mining finance, project feasibility, mine construction, mineral resources, gold reserves, ore processing