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Theta raises $10m

6th May 2024

By: Creamer Media Reporter

     

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ASX-listed Theta Gold Mines, which owns gold assets in South Africa, has received a firm commitment from Hong Kong Ruihua Investment Management to invest $10-million in the company through a share subscription agreement.

The funds will be used to complete funding packages for the TGME gold plant’s construction; for advance engineering, procurement and construction (EPC) contracts; for development works for the plant, a tailings storage facility and water management at the TGME project; and to strengthen Theta’s balance sheet.

Theta says it is fully permitted to enable it to start mining activities at TGME.

“The funding package allows the company to progress with the EPC agreement with PowerChina for pre-development and construction components of the TGME gold plant and provide momentum to advance the project delivery and opportunities for early cash flows,” says Theta chairperson Bill Guy.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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