Theta Gold completes first $37 million drawdown on bond financing
Theta Gold Mines secured its initial capital inflow to support ongoing construction and the path toward first gold production in early 2027.
Theta Gold Mines completed the first drawdown of $37 million from a secured bond facility, marking a significant milestone in the development of its Tailings Management and Groundwater Engineering (TGME) project. The company drew down the funds following the satisfaction of all pre-disbursement conditions required under the agreement with Pareto Securities. This cash infusion supports ongoing construction activities at the mine site in South Africa and advances the project's timeline toward commissioning in late 2026 and first gold production in the first quarter of 2027.
The bond structure allows Theta to draw up to $90 million progressively, aligning capital releases with project funding needs rather than requiring a single large disbursement. Currently funded, the construction phase is intensifying as major processing equipment has been delivered to the site. The TGME project hosts a resource of 6.1 million ounces of gold and targets Phase 1 production of 871,000 ounces over a specific period.
