Theta Gold Mines Ltd. ( (AU:TGM) ) has issued an announcement.
Theta Gold Mines Limited announced that Pensworth Holdings Limited, a significant investor, has exercised 30 million unlisted options into ordinary shares, raising funds for the TGME Gold Mine Project in South Africa. The funds will be used for equipment purchases, staff training, and site preparation, reflecting investor confidence and supporting the company’s strategic growth in the gold mining sector.
More about Theta Gold Mines Ltd.
Theta Gold Mines Limited is a gold development company that holds a range of prospective gold assets in South Africa, particularly in the renowned gold mining region near Pilgrim’s Rest in Mpumalanga Province. The company focuses on constructing and financing a new gold processing plant at the TGME plant, with plans to develop a 12.9-year mining operation starting in 2023, aiming to produce 1.24 million ounces of contained gold. Theta Gold Mines has access to over 43 historical mines and prospect areas, with a significant focus on shallow, open-pit, or adit-entry shallow underground hard rock mining sources.
YTD Price Performance: -56.25%
Average Trading Volume: 6,203
Technical Sentiment Signal: Buy
Current Market Cap: $82.89M
Learn more about TGM stock on TipRanks’ Stock Analysis page.