From Yahoo Finance: 2025-06-11 10:51:00

Theta Gold Mines secures a $35m loan facility from the IDC for the TGME underground gold mine project in South Africa. The agreement includes a 7-year debt funding loan with deferred payments for 18 months.

The IDC’s approval follows a due diligence process and is subject to standard conditions. Theta Gold Mines also secures a 13-year renewal for Mining Right 83 until 2038, covering key mines in the project.

Chairman Bill Guy hails the IDC’s funding approval as a major milestone, signaling confidence in the project’s economics. Theta Gold Mines is updating its DFS with improved economics expected due to the current gold spot price near $3,324/oz.

Last month, the company started pre-construction at the TGME gold processing plant. The revised DFS is expected in the third quarter of 2025, showcasing the project’s potential for growth and success.

Read more: TGM secures $35m loan agreement for South African underground gold project