I just read a comparison between TGM and MLL, where I hold some...

I just read a comparison between TGM and MLL, where I hold some shares too. @Jazzasax wrote as of

31/10/20

16:16

Post #: 48553235

Here is my response for our fellow followers:
"I feel sorry for your silly post comparing Theta Gold Mines to Mali Lithium, with so many thumbs up from ppl, who does know nothing about TGM, but solely love their own MLL share.

For understanding: I own both TGM and MLL and that for many years and I love both each on her own. I won't speculate, which one is more advanced in a timeframe of say 1 year. We will see and I won't bet on it.

I think you are possibly missing some points here.
TGM has 9 granted UG licence. They could start mining anytime if they wish. The open-pit EA seem to be just one amendment of UG MR for one licence
(see page 21 from the independent reserch report on their web-Mark Gordon).
Theta are now in a position to rapidly mobilise trial mining operations.
These operations will commence once the final permitting has been
achieved. The permit required is the environmental authorisation for
open pit mining on Theta’s existing underground mining right.

In a letter received from the South African Department of Mineral Resources and Energy (DMRE) on 26th October 2020 company was confirmed that the application for Environmental Authorisation (EA) to permit open-pit mining on MR83 is being reviewed and the record of decision should be finalized
on or before the end of November 2020.

You said: "The plant requires around $20m in upgrades and repairs, so another year to produce". Did you dream this bs tonight ??
The new mill (2.5MW ball mill) has been incorporated into the revised and optimised plant design and offers the project flexibility to easily expand production up to 1.2Mtpa should the project grow. That quality, secondhand
2.5 megawatt (MW) ball mill was secured for ZAR5.5m (A$550,000 or US$360,000) – considerably cheaper than new build.
"More importantly the 20% improvement in capacity (primarily as the result of the procurement of a 2.5 MW ball mill) is expected to only result in a 1%capital cost increase when compared to the Theta Project Feasibility Study".
So TGM continues to work towards becoming a gold producer and as part of its strategy to produce more than 100koz per annum at one of the lowest AISC of USD 764/oz from all SA gold operators;
I only know a single other foreign producer with AISC of USD 621/oz(canadian company, exploring in South Ecuador the Fruta del Norte project), which I will closely watch, but not crosspromoting, if interested dyor.

But now enough on my ramping on TGM, but to speak with @Corgi :
"Once construction is completed and production ready to commence, their market cap should be close to WAF & RMS Circa $700m-$1.2b". Enough said.

So, if you compare apples with oranges, please tell the truth and not, what you
dreamed last night.
And by the way, it is now time to think about buying more MLL imho".