New Board Appointments
Mr Dumpleton has corporate experience with the due diligence process with multiple lending institutions for funding of several projects with Straits Resources and Red 5 Limited; with the most recent being for Red 5 for securing the A$175 million debt facility with banking syndicates comprising Macquarie Bank Limited, BNP Paribas (Australia), and The Hong Kong and Shanghai Banking Corporation Limited ("HSBC") (Australia).
Commenting on his appointment, Theta Chairman Mr Bill Guy said: "It's a pleasure to welcome Mr Dumpleton to the Theta Board. Mr Dumpleton has worked at all levels in the mining industry at some of Australia's most high-profile mines including Niffy Copper Mine, St Ives Gold Mine, Telfer Gold Mine, Kalgoorlie Super Pit, and across Asia-Pacific regions."
"He has technical excellence in resource geology and has a strong operational background in underground and open pit mining operations. These skills will be important as Theta develops its TGME Gold Project".
"The broking and banking community knows Byron from his work with multiple mining houses, from banking due diligence programs, investor presentations and broker briefings. His skills and networks will assist Theta and have come at right time in the company development."
Mr Bill Guy, who is currently Non-Executive Chairman of the Company, will assume the role of Executive Chairman immediately.
Commenting on his step-up as Executive Chairman, Bill said "The Company is going through a transitional phase from a gold explorer towards producer status and I am honored to have the Board's trust and support to take on this executive leadership role for Theta".
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