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Theta Gold Mines Limited (ASX:TGM) Funds Raised to Support Mine Study and Development
Funds Raised to Support Mine Study and DevelopmentSydney, Mar 15, 2021 AEST (ABN Newswire) - Theta Gold Mines Limited ( OTCMKTS:TGMGF) is pleased to advise that the Company will issue a total of 15,027,819 fully paid ordinary shares at AUD0.275 per share, 11,391,455 shares pursuant to a share placement to sophisticated and professional investors to raise AUD3,132,650 before costs, and 3,636,364 shares on full conversion of a AUD1,000,000 cash advance. The funds raised from the share placement will be used for - a) Project expenditure (open-pit and underground), including permitting, underground mine prefeasibility study, reserve conversion, tailings infrastructure, etc ....
HIGHLIGHTS - Declare an underground Maiden Mining Reserve in Q1 2021 - PFS to focus on: o Maximise Gold Recovery with modern gold processing o Maximise Production Rates with modern mine planning - Metallurgical Results provide confidence for Underground PFS o Rietfontein - 94 % CIL Gold Recovery average from gold face samples o Beta - 91% CIL Gold Recovery initial sample o Vaalhoek - 91 % CIL Gold Recovery initial sample - Environmental Authorisation for MR83 open-pits approval pending POST QUARTER Q4 2020 - Investment in Aura, Jaggards & DigitalX-backed Bullion Asset Management To view the quarterly report, please visit: ....
Theta Gold Mines Limited (ASX:TGM) Presentation to Mines and Money Online Connect
Presentation to Mines and Money Online ConnectSydney, Jan 29, 2021 AEST (ABN Newswire) - Theta Gold Mines Limited ( THETA CONTROLS THE EASTERN TRANSVAAL GOLD FIELDS (A very large yet almost unexplored gold province since WWII) 6Moz+ Group JORC Resources (43.7Mt @ 4.29g/t Au). 1.3 Moz open cut resources (13.08Mt @ 3.12g/t Au). 4.5 Moz underground resources (26.3Mt @ 5.4g/t Au). Initial Ore Reserves declared for the Theta Project Starter-pits (within MR83 only) in May 2019: 205Koz (2.3Mt @ 2.76g/t Au). 6.7Moz+ Gold already produced since 1870s. The No.1 gold discovery in South Africa before the Witwatersrand. ....