Theta Gold Mines Ltd (ASX:TGM) (OTCMKTS:TGMGF) has been granted a trading halt by the ASX with an announcement pending in relation to a proposed capital raising.
The halt will be in place until the start of regular trading on Monday, March 15 or when an announcement is released to the market, whichever occurs earliest.
Kamara Group leads debt financing
Earlier this year the company appointed Sydney-based financial advisory firm Kamara Group to lead debt financing efforts for Theta’s starter open-pits projects in South Africa.
Led by ex-Morgan Stanley banker John Kamara, the group has advised and closed many rounds of debt financing for ASX-listed resource clients including New Century Resources Ltd (ASX:NCZ), Horizon Minerals Ltd (ASX:HRZ), Wiluna Mining Corporation Ltd (ASX:WMX) and Kin Mining NL (ASX:KIN).
Permitting review
The Theta starter open-pit permitting amendment for MR83 is progressing through the normal South African Government departments and is being reviewed by the Department of Mineral Resources and Energy (DMRE) in consultation with other stakeholders.
TGM will update as permitting advances and when information becomes available.
The Theta mine team has been strengthened by the appointment of two more ex-Harmony Gold mining experts, forming part of the mine build and execution team.