Environmental Permitting Update
Sydney, June 14, 2023 AEST (ABN Newswire) - Theta Gold Mines Limited (
ASX:TGM) (3LM:FRA) (TGMGF:OTCMKTS) is pleased to advise that it has received notice from the South African Department of Resources and Energy (DRME) that it is close to approving the final Environmental Authorisation (EA) for MR 83 under Section 24P of the National Environmental Management Act (Act 107 of 1998) ('the Act') subject to installing the necessary environment bond to the value of 21 million Rand (A$1.7m) prior to commencement of mining activities.
Theta Gold is currently in the process of securing the necessary funding to have the environmental bond in place by the end of June 2023 and will provide further updates in respect to this process.
Following acceptance of the bond by the DRME there will be a public review process which enables interested and Affected Parties an opportunity to review the DMRE decision to approve the EA for MR83.
About Theta Gold Mines Limited
Theta Gold Mines Limited (ASX:TGM) (OTCMKTS:TGMGF) is a gold development company that holds a range of prospective gold assets in a world-renowned South African gold mining region. These assets include several surface and near-surface high-grade gold projects which provide cost advantages relative to other gold producers in the region.
Theta Gold Mines core project is located next to the historical gold mining town of Pilgrim's Rest, in Mpumalanga Province, some 370km northeast of Johannesburg by road or 95km north of Nelspruit (Capital City of Mpumalanga Province). Following small scale production from 2011-2015, the Company is currently focussing on the construction of a new gold processing plant within its approved footprint at the TGME plant, and for the processing of the Theta Open Pit oxide gold ore. Nearby surface and underground mines and prospects are expected to be further evaluated in the future.
The Company aims to build a solid production platform to over 100Kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources. Theta Gold Mines has access to over 43 historical mines and prospect areas that can be accessed and explored, with over 6.7Moz of historical production recorded.
| ||
|
