Hi there, I can't really "verify" anything as I am not a representative of the company and don't hold any permits in my own hot little hands, and I suggest if you want things verified you need to contact the company which you can do on their website.
Having made that disclaimer, I can point out to you some of what you can find on their website. Under the heading "our story" you can find the following paragraph:
"The permitted gold plant is near the towns of Pilgrim’s Rest and Sabie in Mpumalanga Province, 370km northeast of Johannesburg. The tenements are held by Transvaal Gold Mining Estate Ltd (TGME), South Africa’s first incorporate gold mining company (1895). The regional project is know as TGME Project in honour of it historical roots and important to South African gold Industry. The Company plans to start production from the Theta Starter-pits within Mining Right 83."
Elsewhere you can find paragraphs such as:
"The mining permit issued in 2006 allows for the mining of Rietfontein and specifically by a mining right (MR358) registered with the Department of Mineral Resources. The mining permit is valid until 2028 with options to extend. This right allows for the construction of the surface infrastructure, rehabilitation of the adits, access to the underground workings, disposal of waste rock on the surface and mining of ore." (paragraph in document called "other key projects".
And in other documents such as their latest annual report you can find a table that tabulates what mining rights and application to mining rights they have on page 29
"However, the Company has encountered delays in its dealings with government departments, in particular in connection with the permitting amendment to MR83."
This refers to the fact that they want to do open cut mining rather than underground and are applying for an amendment to the permits they have in order to be able to change the nature of the mine.
I very much advise you to do your own research and don't rely on posts in this forum to make financial decisions as I won't take responsibility for your money and am merely pointing out what you should read up on on the company's website.
On a more friendly note, if you do buy in tomorrow (and I'm not advising you to), welcome to the fold.
TGM Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held
