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Theta Gold Mines (TGM) investor relations material
Theta Gold Mines Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Project overview and strategy
TGME Gold Project targets 1.06Moz production over 13.1 years, with scalable expansion to 160koz/year by 2030.
Four core mines within 40km radius, leveraging existing infrastructure and skilled workforce.
Modular plant design and phased commissioning reduce risk and enable rapid scale-up.
All key permits secured, with plant commissioning targeted for Q4 2026 and first gold in Q1 2027.
Over 40 historic mines in the region offer significant exploration and growth upside.
Financials and economics
Revised feasibility study (Feb 2026) shows post-tax NPV (10%) of US$455m at US$2,884/oz gold price.
IRR post-tax is 77%, with a payback period of 29 months from start of mining.
All-in sustaining cost (AISC) is US$1,181/oz, placing the project among the lowest-cost producers.
Peak funding requirement is US$77m, with US$30m equity raised and US$80m debt facility in advanced stages.
Free cash flow forecast of US$933m post-tax, with strong leverage to higher gold prices.
Operations and development
Plant construction underway, with major equipment (dual ball mills) ordered and civil works progressing.
Early cashflow expected from surface rock dumps and tailings, targeting 109koz in first 18 months.
Brownfields approach leverages existing roads, power, and mining footprint to reduce costs and timelines.
Phase 1 focuses on free-milling ore; sulphide circuit added in year 7 for refractory ore.
Systematic evaluation of 40+ historic mines supports long-term resource pipeline.
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