Welcome back to Market Index. We're joined today by Mitford Mundell, CEO of Theta Gold Mines. Welcome.
Thank you very much.
Can you provide a little background for the audience on The Gold Mines?
Theta Gold Mines is a ASX listed company. We have about 6 million ounces of resources in South Africa. We're also a company that's looking at other growth opportunities in Africa and we are quite advanced now in establishing the first mines. All our mines are old existing mines. Sabie-Pilgrims was basically the first gold rush in South Africa. So we have multiple mines that will be starting up over the next four or five years. That will take us to about 60,000 ounces. And they are inherently very shallow operations underground and open cut, and it's a very low cost operation so so it really provides us with a very good blank slate to start with, and to grow the company from.
The biggest news for the company right now would have to be Theta's takeover offer for Western Australian based Focus Minerals. What's the latest on the takeover bid and what would you like to say to the shareholders of Focus Minerals?
We see this trade right now offers very realistic and significant value upsides. We are really valued as an exploration and development company. And as operations start to come into into production, which are quite advanced now in South Africa, obviously, the valuation of the company will also change quite significantly. I mean, as I said in answering your first question, 6 million ounces is where we we start off with and easy entry, multiple mine sites will be developed. So it really does offer good value to the focus shareholders. And just below us there's been other companies who also have moved into Africa. So to be producing in Africa and Australia, I think there's a good skills mixe between the two countries. So I think it really does offer good value. And, you know, we thank the those focus shareholders who have already joined and taken up the offer, and we really do encourage those that that are still considering to join the register and back my operational team to really bring the value to the Australian side as well, where there's also similar operation waiting to be optimised. The synergies between these two countries, these different operations, would really just add value to both the current Theta shareholders and and the new focus shareholders.
Where do you see the company in six months time should the takeover go through or should it not proceed?
Straightaway in the moment, it's a really exciting moment irrespective of of what happens with the takeover of Focus. We are going to see Theta growing and going from strength to strength now, and it would just add to that.
Thank you so much Mitford for joining us on Market Index. Much appreciated. Your insights have been very helpful. That's Mitford Mundell, CEO Theta Gold Mines. Thanks again.
Market Index Corporate
Mon 28 Feb 22, 7:00pm (AEST)
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