By: Mining.com

Theta Gold Mines has successfully closed a Share Purchase Plan (SPP), raising $120,000 from its eligible shareholders. This follows a larger, combined debt and equity financing initiative announced in October 2025, which aimed to secure a total of US$33.9 million for the company. The SPP is a smaller component of this broader funding strategy.

Under the terms of the SPP, the company will issue 571,425 new shares at a price of $0.21 per share. The issuance of these shares is scheduled for November 24, 2025. This offer was made exclusively to existing, eligible shareholders as a way to allow them to increase their investment in the company.

As an incentive for participation, shareholders who subscribed to either this SPP or a previous placement will receive one option for every 2.38 shares they purchased. The company plans to issue 240,087 new options specifically through this SPP, pending shareholder approval at a meeting scheduled for November 28, 2025.

The financing round saw participation from within the company itself, with Non-Executive Director Byron Dumpleton taking part in the SPP for the maximum allowable amount of $30,000. This insider investment is often viewed as a sign of confidence in the company's direction and prospects.

Theta Gold Mines, which has a market capitalisation of $172.58 million, is channeling these funds towards the construction of its flagship TGME Gold Mine Project in South Africa. The capital raised is essential for advancing the project from the planning and development stage into active construction.

The newly acquired funds, particularly the larger US$33.9 million financing package, will be used for critical early-stage construction activities. These include conducting earthworks, civil construction, placing orders for plant equipment, and commencing structural, mechanical, piping, and platework installation at the mine site.

Theta Gold Mines is an exploration and development company with a specific focus on advancing gold assets in South Africa. This recent financing success provides it with the necessary capital to aggressively advance its primary project, moving it closer to production.