5 Years Ramp-up Strategy

Starting 2 open cut mines + 2 near surface underground mines to establish a 160Koz per annum production base case

The Company plans to initially unlock approximately 2.75 million ounces of its 6 million ounces resources by bringing 4 mines into production within the next 4 to 5 years, starting from the Theta Starter-pits (MR83).

The planned 4 mines (see “Map1,2, Figure1″) are:

  1. Theta Starter-pits (within MR83), and
  2. Theta Southern Extention (open-pits, within MR341) (together “Theta Open Cut Project), and
  3. Rietfontein shallow underground (within MR358/10161), and
  4. Beta shallow underground (within MR83/330)


Map2: All 9 Mining Rights controlled by Theta. 

Figure1: Initial 160Koz per annum production strategy

Figure2: Initial 160Koz per annum production strategy details