Expedited Approval of EA by end November 2020 from DMRE
In a letter received from the DMRE on 26th October 2020,
- The DMRE confirmed that the application for Environmental Authorisation (EA) to permit open-pit mining on MR83 is being reviewed and the record of decision should be finalized on or before the end of November 2020.
- The DMRE confirmed its support for Theta Gold's investment and would do the necessary to ensure appropriate permits are processed and granted expeditiously.
- The DMRE acknowledged and appreciate the progress Theta Gold has made in relation to its mining investment which has potential benefits to the South African economy and the local municipal area in particular.
- The DMRE noted that the mining sector has been identified as one of the most important catalyst to stimulate economic growth in the country post Covid-19.
Theta Gold Chairman Mr Bill Guy stated, "We are pleased to receive the DMRE's confirmation of support towards our EA application for MR83 and its commitment for a decision by the end of November."
"Through the EA process, Theta Gold has implemented a positive and wholistic environmental strategy that has gained traction with local communities. Environmental offset strategy has been employed to further strengthen the Company's environmental credentials."
To view the Investor Presentation, October 2020, please visit:
About Theta Gold Mines Limited
Theta Gold Mines Limited (ASX:TGM) (OTCMKTS:TGMGF) is a gold development company that holds a range of prospective gold assets in a world-renowned South African gold mining region. These assets include several surface and near-surface high-grade gold projects which provide cost advantages relative to other gold producers in the region.
Theta Gold Mines core project is located next to the historical gold mining town of Pilgrim's Rest, in Mpumalanga Province, some 370km northeast of Johannesburg by road or 95km north of Nelspruit (Capital City of Mpumalanga Province). Following small scale production from 2011-2015, the Company is currently focussing on the construction of a new gold processing plant within its approved footprint at the TGME plant, and for the processing of the Theta Open Pit oxide gold ore. Nearby surface and underground mines and prospects are expected to be further evaluated in the future.
The Company aims to build a solid production platform to over 100Kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources. Theta Gold Mines has access to over 43 historical mines and prospect areas that can be accessed and explored, with over 6.7Moz of historical production recorded.
Theta Gold Mines Limited