Theta Gold Mines
Primary ticker: ASX:TGM
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: TGME Underground Project
Project location: South Africa
Website: thetagoldmines.com
Our Story
Primary listing on the Australian Securities Exchange (ASX: TGM) with an advanced gold developer with over 6.1 Moz of very shallow gold mineral resources (JORC) under control, targeting project funding and development in 2024. Our goal is to become a responsible, sustainable and highly profitable gold mining group.
The long term goal is to develop four mines targeting a +160koz pa (within 5 years). The four mines host 2.75 Moz JORC gold resource. Has one of the top five largest undeveloped gold resources not controlled by a major on the ASX.
Cash: AUD 1.5M
Debt: AUD 11M
Major shareholders:
BNP Paribas 12%
Citicorp Nomines 11%
HSBC Custody 7%
Zenith 6.6%
2 Invest AG 6%
Team 8%
Financials
Management Profile
Bill Guy, Chairman
Bill Guy has over 30 years’ of experience in exploration and resource development in Asia, Australia, Europe Africa.
Bill had numerous Managing Director and CEO roles, including Longford Resources Limited and Bligh Resources Limited. He previously served as Exploration Manager for Jupiter Mines Limited (ASX:JMS).
Jacques Du Triou, CEO
Mr Du Triou has over 28 years of experience in the South African mining industry across all stages of a mine’s lifecycle. He specialises in project and financial evaluations, construction, mine expansion, risk assessments, due diligence, execution and commissioning to full nameplate capacity.
Jacques began his career with Harmony and progressed to General Manager (2009-2015). During this time, he led the Doornkop South Reed deepening project, which had an estimated capital cost of ZAR1.2 billion (~US$700 million) from feasibility to peak production. He also worked extensively on Harmony’s Kalgold open-pit project.
Ingo Hofmaier, Chief Financial Officer
Vast corporate finance, financial and risk management experience in global commodity markets across a diverse range of geographies, including Africa and the Americas
Over 20 years of experience as a market-facing finance executive in capital markets, financial reporting, tax, commercial contracts, project & corporate finance, and M&A and investment banking
What is your rationale for taking part in 121 Mining Investment?
The company has completed an FS for the first four mines Beta, CDM, Frankfort and Rietfontein (TGME Underground Project). The Base Case LOM plan will comprise a 12.9-year mining operation starting construction in 2024 and delivering 1.24 million ounces of contained gold LoM.
It is a high-grade gold project that sheds ½ Billion USD free cash post-tax LOM based on our DFS released in July 22. We believe further exploration will increase Life of Mine and the current resource base of 6 Moz.
The Project is fully permitted and ready to build
What recent news would you like to highlight to investors attending?
S$8 million Private Placement and Full Redemption of
AU$6 million Secured Bonds 16/09/24
METALLURGICAL TEST RESULTS CONFIRM THAT GOLD IS
RECOVERABLE FROM THE TGME TAILINGS STORAGE FACILITY AND
ROCK DUMPS (174,000 OZ AU 30/07/24
Drill and Blast of Frankfort Mine Commences 19/07/2023
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Complete Execution and Final designs of gold plant
Update Feasibility Study
6 Months:
Project Full-funded TGME Underground Capex
Final Investment Decision (FID)
12 Months:
Construction Commencement at TGME Underground Project
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
What do you think makes your company such a compelling investment?
Theta will be in the lowest quartile of cost curve for gold producers
Low start up captial requirements with predeveloped mines
What are the top 3 key investor takeaways?
The TGME Underground Project is ready for funding and Exection.
AISC expect to be half the current gold