Theta Gold Mines (ASX:TGM) receives water licence for TGME mine, South Africa

• Theta Gold Mines (TGM) receives the first of two water licences required for its TGME Underground Gold Mine in South Africa
• The licence was granted by the South African Department of Water and Sanitation (DWS) and is effective for 12 years
• The granting of the licence follows thorough environmental specialist studies and detailed engineering designs that satisfy the regulatory requirements regarding water and waste management in South Africa
• Now that Theta has received the water licence, its Frankfort Mine within the TGME project is fully permitted
• Shares in Theta are up 2.5 per cent to 8.2 cents at 2:32 pm AEDT

Theta Gold Mines (TGM) has been granted the first of two water licences required for its TGME Underground Gold Mine in South Africa.

The water licence was granted by the South African Department of Water and Sanitation (DWS) and is effective for 12 years.

The granting of the licence follows thorough environmental specialist studies and detailed engineering designs that satisfy the extensive regulatory requirements regarding water and waste management in South Africa.

Now that Theta has received the water licence, its Frankfort Mine within the TGME project is fully permitted.

Theta Chairman Bill Guy said the full approvals now granted for the Frankfort Mine marked a “key step forward” for the development of the TGME project.

“Bulk sampling work shall commence on the Frankfort mine in the coming weeks with the aim to optimise mining and to maximise ore recovery,” Mr Guy said.

“The full approval of the Frankfort Mine displays full recognition from all related government departments of Theta’s effort to becoming a responsible miner in the region.”

Recently, Theta raised $1.7 million under a private placement to fund the TGME mine.

The company stated it planned to use the money for preliminary development, planning activities and gaining permitting approvals.

Shares in Theta were up 2.5 per cent to 8.2 cents at 2:32 pm AEDT.