Theta Gold Mines to outline South African gold strategy at Proactive CEO Session
Tuesday, 12 February 2019 Theta Gold Mines Ltd (ASX:TGM) is set to play an important role in reinvigorating South Africa’s ailing gold industry and this will be outlined to investors at the Proactive CEO Session in Sydney next week. With the company having just returned from the Investing in African Mining Indaba in Cape Town, chairman Bill Guy will present at the Sydney CEO Session on Monday, February 18. Resource and reserve statement imminent The company is focused on the historical TGME gold mining area around the town of Pilgrims Rest northeast of Johannesburg and has a resource and reserve statement imminent. This statement is expected to add to the 5.8 million-ounce gold resource at TGME. READ: Theta Gold Mines on track to complete Theta Hill feasibility study It will also form part of a feasibility study for the Theta Hill project, which is intended to be the first producing mine in the broader TGME project. The fully-funded study is due for completion later this quarter. CIL plant being refurbished Theta Gold Mines is also focused on refurbishing the existing TGME CIL plant with the intention of resuming production. This plant is just 1.5 kilometres downhill from the Theta Hill project and within easy access of other potential mining operations at TGME. Positive scoping study A scoping study for Theta Hill released in mid-October 2018 delivered a positive result for the shallow, high-grade resource which features 4.5 million tonnes grading 4.14 g/t gold for 600,000 ounces. The study models a 7.6-year, 67,000-ounce-a-year mine operation where 92% of ore is recovered. Theta Hill mine would take about 10 months to build and 7.4 months to pay back initial capital costs. READ: Theta Gold Mines high-grade hits likely to boost 5.8 million-ounce TGME gold resource Exploration is ongoing at TGME and impressive results have recently been returned from drilling at the Theta Hill, Columbia Hill and Scammells deposits. The Theta Hill scoping study affirmed the belief that historical mines on the 620 square kilometre goldfield could have open-cut oxide gold fundamentals. Register for the CEO Sessions today to find out more. Sydney details, Monday, February 18, 2019 Melbourne details, Tuesday, February 19, 2019 TGM will only present in Sydney while Anatara Lifesciences Ltd (ASX:ANR) is on the Melbourne program. Featuring at both sessions will be AdAlta Ltd (ASX:1AD), Argonaut Resources NL (ASX:ARE), Kazia Therapeutics Ltd (ASX:KZA) and Peninsula Energy Ltd (ASX:PEN).
Canada's Barrick Gold offered to buy U.S. rival Newmont Mining for nearly $18 billion in stock in a hostile takeover that seeks to combine the world's two largest gold producers. Fred Katayama reports.