Theta Gold Mines Ltd (ASX:TGM) executive chairman Bill Guy speaks to Proactive after announcing a funding deal with the Sprott Resource Streaming and Royalty Corporation.
Theta will receive a US$70 million (~A$110 million) cash advance in return for a gold stream on the ASX-listed company’s TGME gold project in South Africa after it entered into a non-binding streaming term sheet.
Saying the new funding covers 90% of the project's peak funding requirement, Guy says the deal "really puts the project on the map" and is "great news for the shareholders."
He anticipates production starting in the second quarter of 2024 with peak production coming two years later.