TSX-listed Theta Gold Mines achieves progress milestone at the TGME Gold Project as the company enters Phase 2 of construction. Theta Gold has signed the SMPP contract with industry leaders PICM and RM Process. The SMPP contracts cover structural steel, mechanical components and piping.
Highlights
- Modular: All steelworks fabricated are completed off-site at PICM’s facilities. This approach streamlines transportation and on-site installation, reducing risk and accelerating timelines.
• Cost Savings: PICM and RM Process teams already on site, busy with earthworks and civils, synergy savings targeted.
• Equipment: Mobile and stationary cranes purchased to assist with construction work.
Theta Gold Chairman, Bill Guy stated: “The first phase of the TGME Gold Project — earthworks and civils — is advancing at speed. Contractors are working well with the Theta Gold team. By issuing the SMPP contract to PICM and RM Process, we save time and money. Both companies have staff on site who understand all company protocols and have detailed knowledge of the build site.”
“With Phase 2 underway, Theta Gold is demonstrating its commitment to operational excellence, innovation, and value creation for shareholders. The TGME Gold Project is positioned to become a cornerstone of sustainable gold production in South Africa.”
“The Project’s profitability is strongly leveraged to the gold price, with a low-cost mining advantage, and a pipeline of resources that position Theta Gold as a future mid-tier producer in one of the world’s premier gold districts. Once fully operational, the TGME Gold Project will produce over 100,000 oz of gold per year. The TGME Gold Project is designed and engineered to scale up to 1Mtpa (approximately 160,000 oz per year).
Strategic Partnerships and Proven Expertise
Theta Gold has secured contracts with industry leaders PICM and RM Process, ensuring world-class delivery of structural, mechanical, platework, and piping (SMPP) services. PICM, with its expertise and successful execution of Phase 1, will lead the fabrication and installation of critical infrastructure, while RM Process will serve as the owners’ engineers.
Innovative, Scalable Construction Approach
The project will utilise a modular construction strategy, with all steelworks fabricated at PICM’s advanced facilities. This approach streamlines transportation and on-site installation, reducing risk and accelerating timelines.
Major Infrastructure Works Underway
Phase 2 includes the fabrication and erection of structural steelwork, installation of specialised tanks and vessels, and deployment of advanced piping systems. Mobilisation of resources is already in progress, setting the stage for rapid progress.
