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Theta Gold Mines (ASX: TGM) has hit a significant milestone at its TGME gold project in South Africa with the signing of a manufacturing contract for a crushing and screening plant.
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Chairman Bill Guy said the contract with NMS Africa is a critical step toward first gold and early cashflows.
The contract covers the manufacture of a three-stage crushing and screening plant designed to meet initial production requirements, while allowing for future expansion as the project scales.
The plant includes ore feed, primary, secondary and tertiary crushing, plus screening circuits.
Mr Guy said the long-lead item is keeping the project on track for commissioning in Q4 2026.
“The company is excited to have signed the supply contract with NMS South Africa to supply a critical part of the long-lead item of equipment for the TGME gold mine project. MNS South Africa is based in Johannesburg, four hours via road to TGME gold project,” Mr Guy said.
“The secondary and tertiary crushing and screening equipment form part of the ore feed equipment for the plant. With only a 125- day delivery timetable, the equipment will be fabricated and delivered to site just-in-time for its installation.
“All continuing construction activities at the site are progressing on budget. The TGME gold plant is still on track for commissioning Q4 2026 with first gold being poured Q1 2027.”
The TGME gold project is a near surface and shallow underground ore bodies with compelling cost advantages, with 6.1 million ounces of gold resource.
It is located next to the historical gold mining town of Pilgrim’s Rest, in Mpumalanga Province, some 370km northeast of Johannesburg.
Responsible for small scale production from 2011 to 2015, the company is currently focusing on the construction and financing of a new gold processing plant.
TGM is down 3.61% to 20.0¢. Mkt cap $240.0M
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