Theta Gold Mines Ltd. · ASX:TGM
Theta Gold Mines — Investor Presentation (July 2025)
33 slides from Theta Gold Mines's investor presentation, Jul 22, 2025
Slide 1: Theta Gold Investor Presentation ASX Announcement
22 July 2025 ASX ANNOUNCEMENT (ASX:TGM) THETA GOLD INVESTOR PRESENTATION Theta Gold Mines Limited (“Theta Gold” or the “Company”) (ASX: TGM) is pleased to provide an updated investor presentation ahead of the 2025 Noosa Mining Conference to be held in Queensland between 23 to 25 July 2025. A copy of
Slide 2: Theta Gold Mines Limited - South Africa's Next Gold Miner
Theta Gold Mines Limited (ASX: TGM) South Africa’s Next Gold Miner July 2025
Slide 3: Disclaimer
Disclaimer FORWARD LOOKING AND CAUTIONARY STATEMENTS DISCLAIMER AND COMPETENT PERSONS STATEMENT This presentation may refer to the intention of Theta Gold Mines regarding estimates or future events which could be DISCLAIMER considered forward looking statements. Forward looking statements are typica
Slide 4: Theta Gold Mines is a rapidly emerging South African gold miner
Theta Gold Mines is a rapidly emerging South African gold miner • TGM is an emerging gold producer focused on restarting historical underground operations at the Transvaal Gold Mining Estates Company overview (TGME) project in South Africa. • First production targeted by early CY27 • TGME has a larg
Slide 5: Company overview
Company overview COMPANY SNAPSHOT (July 2025) TGM SHARE PRICE & VOLUME (Last twelve months) 931.4 SHARES ON ISSUE ON ASX Million OPTIONS AND 124 PERFORMANCE RIGHTS Million SHARE PRICE A$0.195 A$7.5 CASH ON HAND1 Million MARKET CAPITALISATION A$182 (UNDILUTED) TOP 10 SHAREHOLDERS (February 2025) Mill
Slide 6: Investment Highlights
Investment Highlights Robust Production High-Grade Proven, Scalable Profile Resource Base Processing Targeting 1.1Moz over 12.91 years, 6.1Moz at 4.17g/t Au2 total Mineral Established free-milling and producing 90-100koz p.a. at a Resources across multiple deposits refractory pathways deliver strong
Slide 7: Board & Executive Management
Board & Executive Management BILL GUY RICHIE YANG BYRON DUMPLETON BRETT TANG Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Executive (Corporate Finance) with 20 years Executive (Geologist) with + 30 years of Lawyer, professional investor and fund Executive (
Slide 8: TGME Gold Project – rapidly moving to production
TGME Gold Project – rapidly moving to production
Slide 9: Transvaal Gold Mining Estates (TGME) project overview
Transvaal Gold Mining Estates (TGME) project overview South Africa’s Eastern Transvaal Goldfields — Historically over 6.7Moz produced and counting… The TGME Project is located in South Africa’s most prolific gold region, backed by existing infrastructure, a skilled workforce, and strong utility acce
Slide 10: Pathway to production
Pathway to production 3 6 10 Debt – cornerstone Construction period 12 fundings – IDC with civils/service 7 Bank debt facility Commission commitment in place underway finalised Complete – first Water Management 8 5 11 2 gold pour and security fencing Feasibility Study underway Equipment Practical Pr
Slide 11: Significant pre-production activities already completed
Significant pre-production activities already completed Description Completed Project Final Designs Completed ✓ Update of the plant DFS ✓ Plant process design Engineers Appointed – RM Process TSF conventional deposition ✓ Tailings and Environmental Engineers Appointed – Eco Elementum ✓ TSF dry stack
Slide 12: Robust Economics – significant leverage to gold price
Robust Economics – significant leverage to gold price.
Slide 13: Key Feasibility Study Takeaways
Key Feasibility Study Takeaways1 Economics at US$1,642/oz Gold Price (2022 FS base case) Payback Period First 4 Mines Underground ore mined Pre-tax NPV10 Project Life Start of Project – ½ Billion USD 6.46Mt @ 5.95g/t Au for 31 months USD 324 million 12.9 years 1.24Moz of contained Free Cash Start of
Slide 14: Near Term Gold Production Delivering Significant Forecast Cashflows
Near Term Gold Production Delivering Significant Forecast Cashflows US$1,642¹ Forecast Financials Project Economics Metric /oz US$2,000 US$2,500 US$3,000 (FS 2022) • Forecast financial numbers are based on current /oz /oz /oz preliminary financial modelling and will be NPV @ 10% (Post-tax) US$m 219
Slide 15: Strategy to Build up to >160,000oz/A Au Production Profile Within 5 Years
Strategy to Build up to >160,000oz/A Au Production Profile Within 5 Years PHASE 1 PHASE 2 PHASE 3 COMMISSION COMMISSION COMMISSION First Gold 50-70koz/a 90-120koz/a >160koz/a Phase 1 Surface Gold Phase 2 Underground Phase 3 Expansion • 45 kt/m Metallurgical plant • Development Underground • Expand t
Slide 16: Definitive Feasibility Studies – Existing + Update
Definitive Feasibility Studies – Existing + Update Existing Feasibility Study The company’s growth strategy is developed on scaling up production from DEVELOPMENT DRILL RIG LONG HOLE DRILL RIG LHD four historic underground mines and surface gold. Mines: Beta, Rietfontein, Frankfort, and CDM. • TGM a
Slide 17: South Africa – an experienced gold mining jurisdiction
South Africa – an experienced gold mining jurisdiction
Slide 18: South Africa's "Newest" Gold Field
South Africa’s “Newest” Gold Field A significant geological endowment • The Transvaal Gold System sits geological on the eastern side of Bushveld Complex the largest layered igneous intrusion on earth. • South Africa hosts the 3rd largest gold reserves in the world, mostly within this Witwatersrand
Slide 19: Sedimentary Gold Reef System
Sedimentary Gold Reef System Beta and CDM Gold Reef Systems • 1.186 Moz of Gold in total • Indicated 587.9 Koz • Inferred 763.8 Koz • Gold Reef Grade between 10 and 16.5 g/t • Reef systems flat dipping 3-7 degrees with strike length over 11km 1. See the Appendix – JORC Statements included in this pr
Slide 20: South Africa - An Attractive Investment Destination
SOUTH AFRICA - AN ATTRACTIVE INVESTMENT DESTINATION 16% of the African continent’s GDP Logistical Advantages • Largest road system network in Africa Jurisdiction Benefits • Local commercial airports • Close to industrial hub of Johannesburg • English Common Law • Democratic society government by the
Slide 21: Appendices
GOLD MINES Appendices
Slide 22: Feasibility study flow sheet - Free Milling Ore Process Plant
Feasibility study flow sheet - Free Milling Ore Process Plant Optimised - 45KT Per Month Oxide Ore Feed Material Gold Recovery Plant (Phase 1) • Phase 1, an optimised Oxide plant capable of milling 45kt / per month • The Oxide plant will process free-milling ore from Beta and Rietfontein Mines for t
Slide 23: Old plant has been demolished in preparation for new plant
OLD PLANT HAS BEEN DEMOLISHED IN PREPARATION FOR NEW PLANT
Slide 24: How is South Africa meeting the challenges of ESG?
How is South Africa meeting the challenges of ESG? By addressing all 17 of the United Nations Sustainable Development Goals (UNSDG) through legislation At the global level, the UNSDG serves as a high-level forum for joint policy formation and decision-making. The Sustainable Development Goals (SDGs)
Slide 25: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) MULTI-STAKEHOLDER SUSTAINABILITY DEVELOPMENT STRATEGY AND IS BASED ON: • Conservation of biodiversity • Holistic risk management • Responsible production practices • Zero harm approach to health and safety • Positive impact on host communities • Environmental
Slide 26: Environment – Saving the Local Catchment and River System
Environment – Saving the Local Catchment and River System Theta launches a highly effective Ecological Compensation program. This critical river system sustains over 20,000 farm workers and serves as the lifeline for Kruger National Park—especially during the dry winter months. Unless urgent action
Slide 27: Labour (FTEs)
Direct Employment Labour over LoM Occupational Health and Safety 600 • Zero Harm focused on visible, felt leadership and discouraging 500 undesirable behaviour and acts 400 Labour (FTEs) • HIV and AIDs programme 300 • TB programme 513 517 515 509 505 535 493 478 200 370 349 • Other HSE’s programme 3
Slide 28: JORC Statements - Mineral Resources and Ore Reserves
JORC Statements- Mineral Resources and Ore Reserves
Slide 29: Combined Mineral Resources Statement (~6.1Moz)
Combined Mineral Resources Statement (~6.1Moz) Combined Mineral Resource Resource Classification Type of Operation Tonnage Gold Grade Gold Content Mt g/t Kg koz Underground 0.091 5.37 489 15.7 Measured Open pit Tailings Total Measured 0.091 5.37 489 15.7 Underground 4.774 6.21 29 661 953.7 Indicated
Slide 30: Total Mineral Resources of the Mines included in the DFS
Total Mineral Resources of the 4 Mines included in the DFS - Combined as of 1 February 2021 Mineral Resource Reef Grade Stope Grade Reef Width Stope width Content Reef Tonnes Stope Tonnes Au Content Mine Reef Classification g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 10
Slide 31: Table: Ore Reserve Estimate for TGM Mines
Table: Ore Reserve Estimate for TGM Mines (Ore Reserve Plan) Tonnes Grade Au Content Ore Reserve Category kt g/t kg koz Beta Proved - - - - Probable 1,634 6.86 11,206 360 Rietfontein Proved - - - - Probable 509 7.76 3,954 127 Frankfort Proved 58 4.26 245 8 Probable 258 4.08 1,053 34 CDM Proved - - -
Slide 32: Mineral Resource Statement – Underground Only (~4.5Moz)
Mineral Resource Statement – Underground Only (~4.5Moz) Reef Stope Mineral Resource Reef Grade Stope Grade Reef Width Stope width Content Au Content Mine Reef Tonnes Tonnes Classification g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 103 520 0.069 0.091 489 15.7 Total Mea
Slide 33: Mineral Resource Statement – Open Pit Only (~1.4Moz)
Mineral Resource Statement – Open Pit Only (~1.4Moz) Reef Grade Reef Width Content Reef Tonnes Au Content Mineral Resource Classification Open Pit Mine Reef g/t cm cm.g/t Mt kg koz Hermansburg Eluvial 1.79 0 0 0.505 905 29.1 DG1 Eluvial 2.24 0 0 0.640 1 432 46.0 DG2 Eluvial 0.66 0 0 1.586 1 041 33.5