Close of Share Purchase Plan
Sydney, Sep 24, 2021 AEST (ABN Newswire) - Theta Gold Mines Limited (
ASX:TGM) (3LM:FRA) (TGMGF:OTCMKTS) advises that the Company's Share Purchase Plan ("SPP") closed as scheduled at 5.00pm AEST on Thursday, 23 September 2021. SPP applications are being reconciled and results of the SPP will be released early next week.
Meanwhile, the Company received applications for the potential SPP shortfalls, separate from the previously announced A$1 million shortfall underwriting provided by German investor 2Invest AG.
Theta's EGM on Monday, 27 September 2021 includes a range of resolutions that will pave the way for completion of the capital raising initiatives first announced by the Company on 2 August 2021.
About Theta Gold Mines Limited
Theta Gold Mines Limited (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.
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