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Theta Gold Mines Limited (ASX:TGM)

ALERT: Price-sensitive ASX Announcement for TGM
Current share price for TGM : $0.180 -0.03 (-14.29%)+
Announcement
Release
1 Jun 2026 8:32AM
Price at Release
$0.210
Full Release
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Summary
Theta Gold Mines Limited has successfully secured a fully subscribed US$90 million Senior Secured Callable Bond to fund the TGME Gold Mine Project in South Africa. The bond, managed by Pareto Securities, is intended to support the construction and development of the project, with plant commissioning expected in late 2026 and the first gold pour anticipated in the first quarter of 2027. The bond issue, which completes the company's debt funding process, offers significant operational flexibility with no mandatory hedging, options, or royalties. The financing structure includes a four-year tenor with interest-only payments for the first 30 months, followed by quarterly repayments. The bond will be listed on Euronext Nordic ABM, and the proceeds will be used for construction, infrastructure, and mine development costs. The project aims to drive economic growth in the region with an expected mine life of over 13 years.
Key Points
  • US$90 million Senior Secured Callable Bond issued.
  • Funding directed towards TGME Gold Mine Project in South Africa.
  • Plant commissioning targeted for late 2026.
  • First gold production expected in Q1 2027.
  • No mandatory hedging or options as part of financing.
  • Four-year bond tenor with interest-only payments initially.
  • Proceeds used for construction and mine development.
  • Bond to be listed on Euronext Nordic ABM.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.