Drone view of existing plant at TGME Source: Theta Gold Mines
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  • Theta Gold Mines (TGM) advises the CEO of its South African operations, Mitford Mundell is no longer employed with the company
  • However, South African operations are continuing to progress, with the front-end engineering design (FEED) of the TGME gold plant completed
  • This design will form an important role in finalising the definitive feasibility study (DFS) of the TGME underground project
  • The DFS continues to progress and is currently under internal review
  • Shares are trading 3.08 per cent lower at 6.3 cents each at market close

Theta Gold Mines (TGM) has advised the CEO of its South African operations, Mitford Mundell is no longer employed with the company.

The reason behind his departure is unknown and the company hasn’t provided any additional details.

Despite this, operations in South Africa have continued to progress, with the front-end engineering design (FEED) of the TGME gold plant completed.

This design will form an important role in finalising the definitive feasibility study (DFS) of the TGME underground project.

MET63 was appointed to complete the plant design, which will have a milling capacity of 540,000 tonnes per annum.

As the plant has been designed to fit into the current plant’s footprint, no additional environmental permits will be required.

It will utilise the latest proven automation technologies and will have the capacity to be expanded to achieve its five year gold production target.

“The modular design means easy expansion for future growth and reduces construction time,” Chairman Bill Guy said.

Meanwhile, the DFS has continued to progress and is currently under internal review.

Shares were trading 3.08 per cent lower at 6.3 cents each at market close.

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