Fineway – 12%
Zenth Holding HK – 8.7%
Citicorp – 7.5%
Tasman Fund – 6.1%
Golden Asia Investment Group – 5.8%
Team – 9%
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).
The company has completed a 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 in 2024 Q2 and delivering 1.24 million ounces of contained gold LoM.
The estimated development capital or peak funding requirement is USD77 million (Total CAPEX 100 M USD), with the Project forecast to generate a pre-tax NPV10% of USD324 million (AUD432 million) and pre-tax Internal Rate of Return (IRR) of 65% at the forecast gold price of averaging USD1,642/oz over the 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.
We be looking for equity and debt to fund the transition from developer to gold production
TGM ASX Release date:
Water Use License Granted for the Frankfort Mine (Fully Permitted).
Theta Gold executes A$110M Term Sheet with Sprott 19/10/2022
Atmospheric Emissions License issued for the operation of the
processing plant. 06/09/2022
State Forest Licence issued for Frankfort Mine. 06/09/2022
TGME Underground Mine Feasibility Study Information Booklet 27/07/2022
Theta Gold’s TGME Project DFS confirms NPV of AU$432 Million 27/07/2022
Submission of the final EIA/EMPr to the Department of Mineral
Resources and Energy (DMRE) (MR 83). 18/07/2022
Submission of the final technical documents for the integrated
water use licence application to the Department of Water and
Sanitation (DWS) for final decision. 18/07/2022
TGME Gold Processing Plant Front-End Engineering Design
(FEED) Completed 20/06/2022
• High-Grade assay-
o Beverly Hills sweepings grabs – 15.79g/t Au and 4.37g/t Au
o Beverly Hills chip samples – 11.79g/t Au
o Desire sweepings grabs – 14.27g/t Au and 10.79g/t Au
Permitting completion for Mining Right 83 (EIA, WUL)
Completion of Sprott due diligence Binding Streaming Agreement
Commercial Bulk Sampling
Early Cashflow Options
Project Full-funded TGME Underground Capex
Final Investment Decision (FID)
Construction Commencement gin project construction