Theta Gold Mines (ASX:TGM) announcement overview

Theta Gold Mines Limited (ASX:TGM) has successfully secured a US$8 million private placement and completed the full redemption of AU$6 million secured bonds. The private placement includes a US$6 million placement to Hong Kong Ruihua Green Development Limited, an additional US$2 million private placement from institutional investors, and the pending US$4 million placement to Hong Kong Ruihua Green Development Limited. The bond redemption frees up project collaterals for future project financing requirements.

Executive Commentary

Chairman Bill Guy stated, 'The current gold price environment has changed the Board's strategy on the project funding structure. Our team has been busy preparing for project readiness, including work on final construction designs and procurement requirements in preparing for the project build.'

Summary of Announcement

Theta Gold Mines (ASX:TGM) has successfully secured a US$8 million private placement and completed the full redemption of AU$6 million secured bonds. The private placement aims to strengthen the company's balance sheet, provide momentum to progress advancement of project activities, and support general working capital. The bond redemption frees up Theta's project interest to be available as collateral for future potential project funders. The company's ambitions include building a solid production platform over the next 5 years and accessing historical mines and prospect areas for exploration. Additionally, negotiations are ongoing with project financiers to provide the necessary additional funding capital expenditure requirements to complete the TGME gold project build.