Since its peak in October 2024 of over 21c, the share price has suffered considerably, but this debt funding loan facility agreement makes me more confident again.
Chairman, Bill Guy commented: “The IDC, a South Africa’s state-owned institution, has completed a due diligence and approved funding of the Project. Its debt funding Loan Facility Agreement in the TGME Underground Gold Project signals strong confidence in the project’s economics and alignment with IDC’s sustainable growth mandate. This is a major funding milestone, with next step finalising legal agreements. IDC has a proven track record backing early-stage African successes like Kumba Iron Ore and Alphamin Resources.”
In the ann I was particularly struck by the last sentence, which should give us additional confidence: "TGM is currently updating the 27 July 2022 DFS, anticipated to be released during Q3 2025. With current gold spot pricing near US$3,324/oz the update is expected to deliver significantly enhanced project economics."
TGM Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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