Theta Gold Mines is in trading halt ahead of a funding announcement

Theta Gold Mines Ltd has been granted a trading halt by the ASX pending the release of an announcement regarding a funding transaction. The halt will remain in place until the start of regular trading on Wednesday, July 28, or until an announcement is released to the market, whichever occurs earliest. Shares last traded at A$0.22 while the company’s market cap is about A$110 million. TGME Underground Project mining Recently, Theta Gold embarked on an array of development activities at its TGME Underground Project in South Africa just months after establishing a maiden underground pre-feasibility study and an initial underground mining reserve. As it gears up to restart mining activity at TGME, which lies within the broader Pilgrims Rest Gold Field, the gold development company has progressed an active site program. The onsite team has been busy completing gravity surveys, historical mine surveys across assets that are not yet included in current mineral resources, sampling across the Rietfontein tailings dumps and progressed other workstreams. Looking ahead, a phase one definitive feasibility study, incorporating the underground project’s Beta, CDM and Frankfort mines, is slated for completion in the first quarter of next year.