Theta Gold Mines Ltd.
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in mil. unless spec.Company Description
- CEO
- Charles William Guy
- Full Time Employees
- 80
- Sector
- Non-energy minerals
- Industry
- Precious metals
- Address
- International Tower One Sydney NSW Australia 2000
- IPO Date
- Feb 28, 2011
- Website
- thetagoldmines.com
- Similar Companies
- Business
- Theta Gold Mines Limited Theta Gold Mines Limited (ASX: TGM) is an Australian gold exploration and development company focused on advancing the Transvaal Gold Mining Estates (TGME) project in Mpumalanga Province, South Africa, near the historic gold mining towns of Pilgrims Rest and Sabie, approximately 370km northeast of Johannesburg. The company, founded in 2008 as Meridien Resources Limited, renamed Stonewall Resources Limited in 2012 following an acquisition, and rebranded to its current name in December 2018, holds a 74% equity interest through subsidiaries in over 62,000 hectares of mining rights covering the Eastern Transvaal Gold Fields; it maintains a JORC-compliant resource base of 6.1 million ounces of gold across shallow underground and open-pit deposits, supported by existing infrastructure including a permitted plant site, tailings storage facility, roads, power, and water access. Core activities encompass gold exploration, resource delineation, and project development, including trial mining, underground mining from multiple fronts, open-pit operations, and construction of a 540,000 tonnes per annum carbon-in-leach processing plant expandable to 960,000 tonnes per annum, with planned initial production exceeding 60,000 ounces of gold annually ramping to over 160,000 ounces from up to six mines. Recent advancements include the start of earthworks and civil engineering at the TGME site in September 2025, completion of site clearance and preparation works as of July 2025, and targeting full plant construction in 2026 with producer status by early 2027; in October 2025, the company secured US$33.9 million in combined equity and debt funding, including US$6 million from cornerstone investors such as Hongkong Ruihua Investment Management Limited and Jingsha Diao, plus conversion of A$7.8 million in 2023 convertible loans into shares and options, alongside a recently closed share purchase plan raising A$120,000. Strategic partnerships feature a February 2024 US$30 million engineering, procurement, and construction contract with Yellow River, a PowerChina subsidiary, for the processing plant; selection of Digmin as preferred mining contractor for trial and production activities; and debt financing comprising a US$70 million gold streaming deal with Sprott Resource Streaming in 2022 and a R622 million (US$35 million) facility from South Africa's Industrial Development Corporation approved in June 2025. These initiatives support a 2022 feasibility study projecting 1.08 million ounces over 13 years from proven and probable reserves of 558,000 ounces, with all-in sustaining costs of US$834 per ounce, alongside ongoing updates to reflect elevated gold prices.
Company News
Reviewing Theta Gold Mines (OTCMKTS:TGMGF) & Triple Flag Precious Metals (NYSE:TFPM)
Theta Gold Mines extends TGME Underground Project DFS to include Rietfontein Mine
Theta Gold Mines signifies intention to takeover Focus Minerals
Theta Gold Mines completes “critical de-risking event” with trial mining success at TGME Gold Project
Theta Gold MInes strengthens board with appointment of mining industry veteran as director
Theta Gold Mines begins trial mining at Frankfort underground gold mine
Theta Gold Mines continues permitting activities toward trial mining at TGME
Theta Gold Mines begins TGME Underground Mine development work
Theta Gold Mines set to be key player in South African mining with development strategy for Eastern Transvaal Gold Fields
Theta Gold Mines has busy work program to drive TGME Underground Project to gold production
Theta Gold Mines secures more than $10 million in new funding package to acclerate TGME Gold Project development
Theta Gold Mines is in trading halt ahead of a funding announcement
Theta Gold Mines advances development as it gears up for TGME Underground Project mining
Theta Gold Mines non-executive chairman outlines growing South African gold story at Proactive webinar
Theta Gold Mines non-executive chairman outlines growing South African gold story at Proactive Gold Webinar
Proactive to host Gold Webinar on Tuesday, May 11, showcasing three companies on road to gold production
Theta Gold Mines set to be key player in the South African mining industry with TGME Underground Project
Theta Gold Mines underground pre-feasibility study shows extensive high-grade reef systems can be mined economically
Theta Gold Mines higher on delivering maiden 490,000-ounce underground high-grade gold reserve
Theta Gold Mines in trading halt with maiden underground mining reserve news pending