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Theta Gold Mines Ltd

Stonewall Resources' scoping study envisages Theta Hill open pit gold mine

Stonewall Resources Ltd (ASX:SWJ) managing director Rob Thomson and chairman Bill Guy update Proactive Investors on the company's recently completed Theta Hill scoping study which supports an open cut gold mine.

The scoping study indicates a net present value (NPV) for the proposed open-pit gold mine of US$152 million.

The 7.6-year mine life operation has an estimated capital cost of US$16 million and will average 67,000 ounces of gold production per year.

"We're now drilling for reserves to get the impetus for production," says Thomson.

Quick facts: Theta Gold Mines Ltd

Price: $0.16

Market: ASX
Market Cap: $62.13 m
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Stonewall Resources excited by open-cut potential at TGME gold project

Rob Thomson, managing director at Stonewall Resources Ltd (ASX:SWJ), spoke to Proactive's Andrew Scott on site at their Theta Hill prospect - part of the TGME gold project in South Africa. They've kicked off a second round of exploration which will comprise RC drilling of 20-30 holes for...

on 12/2/18

2 min read