Theta Gold Mines (ASX:TGM) is focusing on locking in funding, advancing underground mine development, and completing plant construction in 2026, following all contractors and equipment mobilising to site at the TGME Gold Mine Project in South Africa.
Speaking to Mining.com.au, Executive Chairman Bill Guy says the company’s focus in 2026 is “crystal clear”.
“Its all about de-risking the project and ensuring we hit the ground running for first gold production,” Guy says.
Construction is currently underway at the carbon-in-leach section and associated retaining walls, amid negotiations advancing with long-lead equipment suppliers for mills and crushing circuits.
Guy says negotiations are anticipated to be finalised in H1 2026.
“Securing these critical components early ensures we stay on schedule for commissioning,” he tells this news service.
Theta, which has a market capitalisation of $188.27 million, is targeting beginning production by Q1 2027, with plant commissioning targeted for the end of 2026.
Guy notes commissioning the plant by 2026 signals the transition from development to execution and positions the company to pour the first gold in Q1 2027.
“Its the moment where years of planning turn into a revenue-generating operation,” he says.
This news comes as gold reached an all-time high earlier this year, hitting over US$4,350 per ounce on 20 October, before dipping to US$4,087 per ounce today (23 October).
Guy says today’s strong gold price environment underpins “exceptional” margins and rapid payback for the TGME Project.
“Looking ahead, it also supports our long-term vision to expand beyond the initial four mines and build Theta into a leading mid-tier gold producer in South Africa.”
Theta Gold Mines is a gold developer focused on a range of prospective precious metals assets in South Africa.
Write to Aaliyah Rogan at Mining.com.au
Images: Theta Gold Mines
