Mining
Theta Gold Mines Limited is a Listed (“Theta Gold” or “Company”) (ASX:TGM) | (OTC: TGMGF). Theta has 6 Moz gold resource base, making it one largest underdeveloped gold projects owned by junior on the ASX. The company controls and dominates the Eastern Transvaal Gold Fields (620 km2), where South Africa’s gold mining industry began almost 130 years ago. And we’re bringing this large forgotten historical shallow goldfield back to life.
The company completed an FS in July 20222 for the first four mines Beta, CDM, Frankfort and Rietfontein (TGME Underground Project) to deliver an NPV10% of A$432 million. The Base Case Life of Mine (LoM) plan will comprise a 12.9-year mining operation targeting starting in 2024 and delivering a production of 1.24 million ounces of contained gold LoM. Peak production is over 100 koz per year.
The TGME Underground Project is a high-grade gold project that sheds ½ Billion USD free cash post-tax LOM based on our Feasibility Study. We believe with 43 historical mines under management, large flat gold reef systems that stretch for kilometres, and over 3 Moz of inferred gold resource not in the current mine schedule, Theta can become a Mid-Tier gold producer.
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