Theta Gold Mines Executes Term Sheet for $80 Million Secured Loan Facility; Shares Up 3%

MT Newswires Live12-16 09:56

Theta Gold Mines (ASX:TGM) executed a non-binding term sheet with Nebari Partners, a US-based investment manager, or its affiliates for a proposed senior secured loan facility of up to $80 million to support the development and commissioning of its gold mining projects in South Africa, according to a Tuesday Australian bourse filing.

The first tranche of $45 million is expected to be available in early 2026, the filing said. Three months after closing, the company may draw down the second tranche of up to $35 million.

The proposed facility will have a five-year term, carrying interest at three-month secured overnight financing rate, with a floor of 3.75% plus 10% per year, and includes an original issue discount of 3% on each tranche.

The parties will proceed to the completion of an extensive due diligence, including legal and technical reviews, to allow approvals by Nebari's investment committee.

Theta Gold Mines' shares rose almost 3% in recent trading on Tuesday.

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