Theta Gold Mines: Q2 2023 Highlights and Updates

Theta Gold Mines Limited (ASX: TGM) provided updates on its activities from April 2023 to June 2023. During this period, the company secured a AU$5 million financing package and signed a commercial bulk sampling trial agreement for its Frankfort gold mine project. It also received a Water Use License for its TGME Gold Project over Mining Right 83 from the South African Department of Water and Sanitation.

Commercial bulk sample mining preparation and operations commenced at the Frankfort Mine. Theta Gold continued the due diligence process for a non-binding Term Sheet with Sprott Streaming and Royalty Corporation for AU$110 million. Post quarter, the company received the Final Environmental Authorisation for Mining Right 83, and drill, blast, and mining activities began at the Frankfort Mine. Additionally, a AU$5 million Private Placement was completed with strategic professional and sophisticated investors.

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