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Theta Gold Mines managing director makes on-market purchase valued at more than $20,000

The company is focusing on the construction of a new gold processing plant for processing the Theta Open Pit oxide gold ore.

Theta Gold Mines Ltd - Theta Gold Mines managing director Robert Thomson purchases shares worth more than $20,000 in on-market transaction
Theta Gold Mines expects to complete the plant build tenders by late in the second quarter of 2020

Theta Gold Mines Ltd (ASX:TGM) managing director Rob Thomson has demonstrated his confidence in the company's gold strategy with the purchase of shares in an on-market transaction.

Between March 26 and April 2 Thomson acquired 99,467 shares worth $20,008.

The number of securities held in an indirect interest after the change increased from more than 1.267 million to in excess of 1.367 million.

Thomson's purchase follows other on-market trades by non-executive chairman Bill Guy and non-executive director Richie Yang.

Guy purchased 98,333 shares for $19,888 increasing his total holding to 893,923 shares while Yang purchased 95,000 shares for $18,560, increasing his total holding to 1.61 million.

Theta Project development

Theta Gold Mines is continuing development at its Theta Starter Project in South Africa with the arrival last month of the 2.5-megawatt ball mill purchased in October 2019.

The mill was transported from Rustenburg on a six-day journey to the Theta Project site at Pilgrim’s Rest, Mpumalanga.

Chairman Bill Guy said the small Pilgrim’s Rest community welcomed the arrival of the mill with much excitement, eager to see the progress towards an official start of construction and mining which will bring back much-needed jobs and income for the town.

He said: “The company has achieved another milestone in the development of the Theta Project.

“The mill arrival and a welcome march from the local community was very heartening.

“The mill was placed on the permitted mine site, ready for future installation.”

Quick facts: Theta Gold Mines Ltd

Price: 0.21 AUD

ASX:TGM
Market: ASX
Market Cap: $92.75 m
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Theta Gold Mines advancing development of its flagship gold project in South...

Theta Gold Mines Ltd's (ASX:TGM) Bill Guy updates Proactive's Andrew Scott on development work at its flagship project in South Africa. A 2.5 megawatt ball mill purchased in October 2019 has recently arrived on site. Guy says the official start of construction and mining will be a big...

on 16/4/20

2 min read