Theta Gold Mines

Theta Gold Mines (ASX: TGM) with South Africa next gold mine under construction. Over 6.1 Moz of very shallow gold mineral resources (JORC) under control, targeting First gold pour in Q1 2027. Our goal is to become a responsible, sustainable and highly profitable gold mining group.

Theta has one of the largest undeveloped gold resources not controlled by a major on the ASX. Feasibility Study show strong project economic generating 1 billion USD in free cash post tax. Production peaking about 120 koz pa with ASIC at bottom quartile of cost for South Africa gold mine. Long term goal is to develop seven mines targeting a +160koz pa (within 5 years).

Management Profile

Bill Guy, Chairman

Bill Guy has over 30 years’ of experience in exploration and resource development in Asia, Australia, Europe Africa.

Bill had numerous Managing Director and CEO roles, including Longford Resources Limited and Bligh Resources Limited. He previously served as Exploration Manager for Jupiter Mines Limited (ASX:JMS).

Jacques Du Triou, Chief Executive Officer>

Mr Du Triou has over 28 years of experience in the South African mining industry across all stages of a mine’s lifecycle. He specialises in project and financial evaluations, construction, mine expansion, risk assessments, due diligence, execution and commissioning to full nameplate capacity. Jacques began his career with Harmony and progressed to General Manager (2009-2015). During this time, he led the Doornkop South Reed deepening project, which had an estimated capital cost of ZAR1.2 billion (~US$700 million) from feasibility to peak production. He also worked extensively on Harmony’s Kalgold open-pit project.

What are your key goals for the next 3, 6 and 12 months?

3 Months

• Complete the bulk earth works for the TGME Gold Plant construction
• Start developing Beta Underground Mine
• Complete funding package for TGME Gold Plant construction

6 Months

Q3 To be finalising the TGME Gold Plant construction

12 Months

• Q4 2026 commissioning the TGME Gold Plant
• Q2027 Pouring Gold Bars at the TGME Gold Plant

What do you think makes your company such a compelling investment?

• Gold Price Leverage: Every US$500/oz increase adds ~US$150-200M to NPV.
• Peak Funding - Phase 1 - US$77m - Brownfields Gold Plant - Existing infrastructure-delivers 70-110koz p.a.
• Shallow Ore Bodies (<400m): Lower mining costs, faster development.
• Early Cashflow: 109 koz from surface rock dumps and tailings in first 18 months.
• Payback: 30 months from start of mining – rapid return on investment