TGME underground project, South Africa
Name of the Project
TGME underground project.
Location
Mpumalanga, South Africa.
Project Owner/s
Gold mining hopeful Theta Gold Mines.
Project Description
The TGME underground project comprises the Beta, Frankfort and CDM mines, all of which form part of the Central Northern area.
A prefeasibility study (PFS) has shown that the narrow, high-grade reef systems can be mined using modern mechanised mining techniques, and that the gold can be recovered using modern metallurgical technologies – ultrafine grinding and intense carbon-in-leach. About 419 000 oz of gold are expected to be delivered to the plant over the initial life-of-mine (LoM) of 7.67 years.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
In the base case, the project has a net present value, at a 5% discount rate, of $91.2-million and an internal rate of return of 82%, with a payback of about 22 months from the start of mining.
Capital Expenditure
Total capital expenditure is estimated at $78.5-million.
Planned Start/End Date
Not stated.
Latest Developments
Now that Theta has completed a PFS for the project, the company can optimise its development strategy based on reliable numbers. At a 63% conversion ratio, Theta Gold still has 3.5-million ounces of underground resources to develop to extend the LoM and increase production into the future.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Theta Gold Mines, tel +61 2 8046 7584 or email info@thetagoldmines.com.
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