Theta Gold Mines Limited (ASX:TGM)
Theta Gold Mines Limited (ASX:TGM) is a gold mining development company that holds a range of prospective gold assets in a world-renowned South African gold mining region.
Theta Gold's assets include several surface and near-surface high-grade projects which provide cost advantages relative to other gold producers in the region. Theta Golds core project is located next to the historical gold mining town of Pilgrims Rest, in Mpumalanga Province, some 370km northeast of Johannesburg by road. Following small scale production from 2011 2015, the Company is currently focussing on the construction of a new gold processing plant within its approved footprint at the TGME plant for the processing of the oxide gold ore from the Theta Open Pit.
The Company aims to build a solid production platform to over 160 kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources. Theta Gold has access to over 43 historical mines and prospect areas that can be accessed and explored, with over 6.7Moz of historical production recorded.
Theta Gold holds 100% issued capital of its South African subsidiary, Theta Gold SA. TGSA holds a 74% shareholding in both Transvaal Gold Mining Estates Limited (TGME) and Sabie Mines. The balance of shareholding is held by Black Economic Empowerment (BEE) entities. The BEE shareholding in TGME and Sabie Mines is comprised of a combination of local community trusts, an employee trust and a strategic entrepreneurial partner.