Theta Gold advances toward production with preconstruction at TGME plant
ASX-listed Theta Gold Mines has begun pre-construction work at its TGME gold processing plant in South Africa, moving the company closer to becoming a near-term gold producer.
In an operational update released Wednesday, the Australia-based developer said key activities under way include the decommissioning of an old processing facility, site preparation, and the completion of final design and engineering packages for the new plant.
“We are pleased to report that Theta is nearing build-ready with a fully designed, engineered and permitted gold processing facility,” said chairperson Bill Guy. “The transition from planning to action has begun with the decommissioning of the old plant and site preparation well under way.”
The company has begun procurement of electrical and wastewater systems for temporary operations, brought in heavy equipment including cranes and excavators, and installed perimeter fencing around the plant footprint. Civil design works and the overall site layout are fully permitted and complete.
Execution of engineering, procurement, construction and management contracts is targeted for the second quarter of 2025, with bulk earthworks expected to start immediately upon project approval. The company also plans to refresh its feasibility study to incorporate current gold prices and additional surface resources.
Theta highlighted a potential near-term opportunity to process about 174 000 oz of gold from tailings dams and surface rock dumps around the plant. That includes 140 600 oz of indicated resources.
Theta has appointed RM Processing to oversee final design and cost estimates, based on feasibility work carried out with Met63. The new TGME plant will treat ore from underground, tailings and rock dumps, and produce gold doré for refining.
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