Theta Gold Mines has a JORC Resource base approaching 6.0Moz in the Transvaal gold field in South Africa. This resource has grown by 57% in the last twelve months. The current focus is a resumption of production, with maiden reserves and DFS due for completion at Theta Hill by 1Q’19. The aim is for the initial low cost, and low capital project (US$16m estimated) to underpin expansion to over 100kozpa in coming years.
Rob Thomson – Managing Director
What is your rationale for attending 121 Mining Investment?
To meet potential mining investors who are interested in investing in an upcoming African gold mine development
What recent news would you like to highlight to investors attending?
Our discovery of open-cut resources at Theta Hill and district continues to grow, with the recent drilling at Columbia Hill, also adjacent to our CIL Plant, looking promising. All up we hope to be mining open-cut gold in the range of 3 to 5g/t which should deliver a very robust profit margin, based on the preliminary work we have undertaken to date. The open-cut or shallow, adit-entry mines in the 72km of strike length we control offer an excellent opportunity for several mines producing in the order of 30 to 70kozpa each.
What are your key goals for the next 3, 6 and 12 months?
We hope to upgrade our resource base with a maiden resource at Columbia Hill early in 2019
Delivery of our DFS by March-April 2019 and maiden open-cut reserves
Construction underway (9 months) with a view to production early 2020
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
The misconceptions regarding mining in South Africa, and also our gold assets. If you take the time to visit our project, you will see the attraction and opportunity.
In a sentence, what do you think makes your company such a compelling investment?
High grade open-cut mines (above say 3g/t Au) are rare globally, and are much less capital intensive than underground developments. We believe once we deliver reserves and commence refurbishing our plant, investors will take us more seriously. These milestones are both planned in 2019.