Theta Gold Mines (ASX:TGM) has raised $120,000 through its share purchase plan (SPP), following on from a combined debt and equity financing plan to raise US$33.9 million ($52.25 million) in October 2025.
The company will issue 571,425 shares at $0.21 to eligible shareholders. Shares will be issued on 24 November 2025.
Eligible holders will receive one option per every 2.38 shares subscribed in either the SPP or the previous placement.
Theta non-executive director Byron Dumpleton participated in the SPP for the maximum of $30,000.
The company will issue 240,087 SPP options and just over 24 million placement options, following shareholder approval at an upcoming meeting on 28 November.
Theta, which has a market capitalisation of $172.58 million, will raise up to US$33.9 million through its financing plan to cover construction costs at the TGME Gold Mine Project in South Africa, as reported by Mining.com.au.
The company will conduct earthworks and civil construction, place plant equipment orders, and structural, mechanical, piping and platework installation at the project using its newly found cash balance.
Theta Gold Mines is a gold explorer focused on developing gold assets in South Africa.
Write to Maddison Elliott at Mining.com.au
Images: Theta Gold Mines
