Theta Gold Partners with PowerChina for Gold Plant Construction

Theta Gold has chosen Yellow River Co Ltd (ASX: YRC), a subsidiary of PowerChina, as its preferred EPC partner to construct the first phase of its TGME Gold Plant, tailings storage facility, and wastewater dams, projected at US$30 million. The MOU outlines a payment schedule post-construction, with YRC receiving a fixed margin and completion incentive.

Initial due diligence is underway, aiming to finalize the Engineering, Procurement, and Construction Contract by Q2 2024. The build period is anticipated to be shorter than previously estimated, with early cashflow opportunities identified. Theta Gold aims to secure funding for upfront payments to advance the project. YRC, a Fortune Global 500 company, offers extensive experience in construction and mining projects. The partnership signifies progress towards Theta Gold's objectives, with further updates expected as discussions and construction advance.

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