Theta Gold Advances Pre-Construction at TGME Plant, Plans Production by 2025

Theta Gold Mines has begun pre-construction activities at its TGME gold processing plant in South Africa, marking a significant step toward becoming a near-term gold producer. Key actions include decommissioning the old plant, completing final design and engineering packages, and preparing the site with new infrastructure such as perimeter fencing and rerouted water supply. The company is updating its Feasibility Study to reflect current gold prices and additional surface resources, and has targeted the second quarter of 2025 to begin major construction contracts and bulk earthworks, pending project approval. RM Processing has been appointed to oversee the final plant design and cost estimates. There is a near-term opportunity to process approximately 174,000 ounces of gold from nearby tailings dams and surface rock dumps, including 140,600 ounces of indicated resources. Chairperson Bill Guy emphasized that these developments signal Theta's transition from planning to active transformation into a gold producer.