Sydney, Australia -
Theta Gold Mines Ltd. (ASX:TGM) (FRA:3LM) (OTCMKTS:TGMGF) advises that following the completion of the Company's Share Purchase Plan ('SPP') on Tuesday, 29 November 2022, the Company received a total of $572,000 in funds.
Directors also participated in the SPP taking up their allocations including Mr Bill Guy, Chairman for $30,000, Mr Richie Yang, non-executive director for $30,000 and Mr Brett Tang, non-executive director for $15,000.
A total of 8,171,405 Ordinary Shares have been issued today at $0.07 per share in accordance with the SPP applications received.
About Theta Gold Mines Limited:
Theta Gold Mines Ltd. (ASX:TGM) (OTCMKTS:TGMGF) is a gold development company that holds a range of prospective gold assets in a world-renowned South African gold mining region. These assets include several surface and near-surface high-grade gold projects which provide cost advantages relative to other gold producers in the region.
Theta Gold Mines core project is located next to the historical gold mining town of Pilgrim's Rest, in Mpumalanga Province, some 370km northeast of Johannesburg by road or 95km north of Nelspruit (Capital City of Mpumalanga Province). 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, and for the processing of the Theta Open Pit oxide gold ore. Nearby surface and underground mines and prospects are expected to be further evaluated in the future.
The Company aims to build a solid production platform to over 100Kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources. Theta Gold Mines has access to over 43 historical mines and prospect areas that can be accessed and explored, with over 6.7Moz of historical production recorded.
Source:
Theta Gold Mines Ltd.
Contact:
Bill Guy, Chairman Theta Gold Mines Ltd. T: + 61 2 8046 7584 E: billg@thetagoldmines.com
