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- Last 2026-11-05
- A$0.185
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
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- Upside
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- Mkt cap
- A$254.6M
- EV
- —
- Cash
- US$13.3M
- Debt
- US$0
4 newer ASX announcements not yet reflected in this valuation
- Notification of cessation of securities - TGMPost Cash Checkpoint Security Event
- Quarterly Activities & Cashflow Report - 30 September 2026Latest Four Activities Reports
- TGM Investor Presentation - Australian Gold ConferenceLatest Operating Presentation
- 2026 Annual ReportLatest Annual Report
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Sign in or enter a guest codeAnnouncements
Latest 12 of 15All sources ▸- Application for quotation of securities - TGMCorporate Action
- Proposed issue of securities - TGMCorporate Action
- Quarterly Activities & Cashflow Report - 30 June 2026Operations
- Application for quotation of securities - TGMCorporate Action
- Investor Presentation - Pathway to ProductionPresentation
- Proposed issue of securities - TGMFinancing
- Quarterly Activities & Cashflow Report - 31 March 2026Operations
- Half-Year Accounts as at 31 December 2025Results
- Notification regarding unquoted securities - TGMCorporate Action
- Revised Feasibility Study Confirms A$1.4B Free Cash FlowStudy
- Quarterly Activities & Cashflow Report - 31 Dec'25Operations
- Quarterly Activities & Cashflow Report - 30 Sept'25Operations
Event calendar · next 12 months
2 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Q4 2026 | TGME plant commissioning | Construction Or Commissioning | Company Guided | High | Mechanical completion and commissioning tests determine whether the first-gold schedule remains credible. |
| Q1 2027 | First gold at TGME | Production | Company Guided | High | First doré and subsequent ramp-up are the cash-generation proof points. |
Executive roster
As of 2026-09-26Background checks ▸FY2025 annual report named key management; later local disclosures continue to identify executive chair and executive director with no subsequent executive departure identified.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Charles William (Bill) Guy | Executive Chairman | Executive Director | — | 2025 Annual Report · TGM Completes First Bond Drawdown of A$51.2 Million |
| Bill Richie Yang | Executive Director of Finance | Executive Director | — | 2025 Annual Report · TGM Completes First Bond Drawdown of A$51.2 Million |
| Jacques Du Triou | Chief Operations Officer – South Africa | Operations | — | 2025 Annual Report |
| Brent Hofman | Chief Financial Officer (Australia) · Company Secretary | Finance · Company Secretary | — | 2025 Annual Report |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
TGME Gold Mine Project
South Africa
Construction74% ownedGold
Theta Gold SA owns 74% of TGME and Sabie Mines; first US$37m bond draw received September 2026; Rietfontein environmental authorisation pending at last local report.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
NPVUS$455M10% discount
IRR77%Published return
Initial capexUS$102MPublished capital estimate
Operating cost1,181USD/oz AISC
NPVUS$220M10% discount
IRR52%Published return
Initial capexUS$102MPublished capital estimate
100% project, post-tax, US$2,884/oz average gold, 13.1-year Base Case including inferred resources.
100% project, post-tax reserve-only case; 8.8 years and 514 koz recovered.
Resources & reserves4
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured | 91K tonnes | 5.37 g/t Au | Gold | 2021-02-01 |
| Mineral Resource | Indicated | 18.1M tonnes | 2.84 g/t Au | Gold | 2021-02-01 |
| Mineral Resource | Inferred | 27.3M tonnes | 5.06 g/t Au | Gold | 2021-02-01 |
| Ore Reserve | Proved and probable | 3.9M tonnes | 4.82 g/t Au | Gold | 2026-02-03 |
Tenements1
Milestones3
- Processing plant commissioning
Pending · High materiality
- First gold production
Pending · High materiality
- Bond covenant project completion
Pending · High materiality
Permits & approvals2
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Rietfontein Water Use Licence | South Africa | Granted | — | Yes |
| Rietfontein Environmental Authorisation | South Africa | Pending | — | Yes |
Economic studies2
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| September 2025 Optimised Feasibility Study | Updated Feasibility | Superseded | 2025-09-30 | Production target retracted 3 October 2025; no longer valuation anchor. |
| February 2026 Revised Feasibility Study | Updated Feasibility | Current | 2026-02-03 | 13.1-year Base Case includes inferred resources; reserve-only plan 8.8 years. |
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
June cash is the latest reported balance. July equity proceeds, September US$37m bond draw and A$5.95m option exercise are subsequent events, but intervening construction spending and current unrestricted cash are undisclosed.
Capital structure
Ownership and dilution
- Ordinary shares
- 1.4B
- Fully diluted
- 1.6B
23 September Appendix 2A reports 1,376,105,106 ordinary shares after 34,568,769 options and 4,400,000 rights converted. Full dilution adds all 222,901,355 remaining options and rights without assuming exercise proceeds or hurdle achievement.
Security classes18
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| ASX TGM fully paid ordinary shares | Ordinary Share | 1.4B | — | — |
| TGMO unquoted/listed options | Option | 24.2M | — | 2027-06-01 |
| TGMAB unquoted/listed options | Option | 10M | A$0.32 | 2027-08-03 |
| TGMAAS unquoted/listed options | Option | 900K | A$0.17 | 2027-09-30 |
| TGMAAR unquoted/listed options | Option | 4.6M | A$0.12 | 2027-09-30 |
| TGMABC unquoted/listed options | Option | 23.7M | — | 2027-07-03 |
| TGMABB unquoted/listed options | Option | 12.6M | A$0.13 | 2026-10-31 |
| TGMAAG unquoted/listed options | Option | 2.6M | A$0.17 | 2027-09-30 |
| TGMAAH unquoted/listed options | Option | 300K | A$0.25 | 2027-09-30 |
| TGMAH unquoted/listed options | Option | 48.4M | A$0.155 | 2027-10-10 |
| TGMAG unquoted/listed options | Option | 1.4M | A$0.25 | 2029-09-30 |
| TGMAD unquoted/listed options | Option | 3M | A$0.12 | 2028-09-30 |
| TGMAE unquoted/listed options | Option | 29M | A$0.15 | 2028-09-30 |
| TGMAF unquoted/listed options | Option | 3.6M | A$0.17 | 2029-09-30 |
| TGMABD unquoted/listed options | Option | 10M | A$0.2 | 2027-05-25 |
| TGMABE unquoted/listed options | Option | 10M | A$0.25 | 2027-05-25 |
| TGMABF unquoted/listed options | Option | 10M | A$0.3 | 2027-05-25 |
| TGMAP performance rights | Performance Right | 28.5M | — | — |
Company guidance2
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| First Gold Production | tgme | Q1 2027 | — | — date window | Current |
| Plant Commissioning | tgme | Q4 2026 | — | — date window | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-09-22Ann. 2026-09-23 | RaisingTgm Ordinary | A$6M | 34.6M | A$0.172 | Completed | Exercise of expiring institutional options. |
| 2026-09-22Ann. 2026-09-23 | RaisingTgm Ordinary | A$0 | 4.4M | — | Completed | Performance rights converted after funding milestone; no cash proceeds. |
| 2026-09-10 | Debt | US$37M | — | — | Completed | First release from the issued US$90m bond; remaining drawdowns conditional on cost-to-complete tests. |
| 2026-08-10Ann. 2026-08-07 | DebtTgm Ordinary | US$11.6M | 32.8M | US$0.18 | Completed | Historical unsecured loan settled in equity; book balance US$11.593m at December 2025.Max 32.8M |
| 2026-07-03 | RaisingTgm Ordinary | A$4.4M | 21.7M | — | Completed | Option exercise proceeds approximately A$4.4m before costs.Exercise of two unlisted option classes |
| 2026-07-03Ann. 2026-06-29 | RaisingTgm Ordinary | A$22.6M | 125.7M | A$0.18 | Completed | Placement proceeds before fees for TGME construction.Max 125.7M · Period 2026-06-29 to 2026-07-03 · Bell Potter Securities and Golden Asia Investment Group |
| 2026-06-12Ann. 2026-06-01 | Debt | US$90M | — | — | Completed | US$90m secured bonds issued into escrow; 12.75% coupon, 95.9 issue price, four-year tenor.Pareto Securities |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
FY2025 annual baseline reconciled with the June quarter and subsequent primary bond and loan-conversion disclosures. No live offtake, stream or commodity/FX hedge terms identified in selected evidence.
Theta Gold SA owns 74% of TGME and Sabie Mines; the remaining 26% is held for South African BEE participation. Project value is attributed at 74%.
Joint Venture · Active- Counterparties
- South African BEE shareholders
- Applies to
- TGME Gold Mine Project · Gold
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- TGME and Sabie Mines attributable ownership: 74 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
Senior secured bond funds construction, subject to remaining cost-to-complete tests; drawn principal is deducted in the equity bridge.
Other · Active- Counterparties
- Pareto-arranged bondholders
- Applies to
- TGME Gold Mine Project · Gold
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Nominal facility: 90 USDm
Coupon: 12.75 percent
First drawdown: 37 USDm
Tenor: 4 years
How it affects our valuation
No valuation treatment is available for this arrangement.
Optional A$15m at-the-market equity subscription facility, extended to July 2031; no mandatory utilisation.
Other · Active- Counterparties
- Acuity Capital
- Applies to
- TGME Gold Mine Project · Gold
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Standby equity limit: 15 AUDm
Maturity: 2031-07-31 date
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The reviewed public record supports role-relevant professional experience for the current team, but mostly through issuer or professional profiles. Individual contribution, exact prior-role dates and several credentials remain unverified. Project construction and South African operating experience described for Guy and Du Triou is relevant to the TGME build and commissioning phase; direct attribution to Theta delivery milestones remains limited.
Decision-relevant facts
Material summary
Charles William (Bill) Guy
Executive Chairman
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
Former MD/CEO of Longford Resources and Bligh Resources; earlier Exploration Manager at Jupiter Mines.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Board and Senior Management · Bill Guy profile; career/role section
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
Project construction and South African operating experience described for Guy and Du Triou is relevant to the TGME build and commissioning phase; direct attribution to Theta delivery milestones remains limited.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Board and Senior Management · Bill Guy profile; career/role section
FailureDocumented · Medium materiality
2025 feasibility study production target was retracted and later replaced
Theta’s October 2025 prospectus reproduces its 3 October ASX retraction: the company said it did not have a reasonable basis for the Base Case production target and forecast financial information in the Optimised Feasibility Study released three days earlier, and expressly cautioned investors not to rely on it. On 3 February 2026 Theta issued a Revised Feasibility Study with a new mine plan and financial estimates, including an Ore Reserve Plan as well as a Base Case containing Inferred Resources; the report itself says the Base Case cannot be guaranteed and Inferred Resources are speculative. This is a material disclosure and project-planning failure followed by revised disclosure.
Role overlaps event; causation unproven · This company-level event occurred during the executives’ reported Theta roles. Reviewed evidence does not show which individual prepared or approved the retracted target, and does not establish personal fault; attribution is limited to role overlap and team oversight.
Retraction of Production Target (reproduced in October options prospectus) · Retraction of Production Target reproduced in prospectus, PDF pp.7–8
Half-Year Financial Report – 31 December 2025 · Revised feasibility study details and caution concerning Inferred Resources, PDF pp.13–17
Evidence gaps · 4
- The reviewed public professional and issuer materials did not establish verified degrees or professional credentials for this executive.
- Exact dates for prior roles and independent confirmation of profile claims were unavailable in the reviewed materials.
- Issuer leadership page labels the Executive Director of Finance role as “Executive Director”; no dated announcement resolving the title difference was found.
- The reviewed ASX/issuer disclosure establishes the company’s production-target retraction and later revised study but does not identify which executive prepared or approved the September 2025 target or the decision process leading to its publication.
Bill Richie Yang
Executive Director of Finance
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
Corporate finance across listed and private junior resource companies; Managing Director of Vs Capital Group.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Board and Senior Management · Bill Richie Yang profile; career/role section
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
Project construction and South African operating experience described for Guy and Du Triou is relevant to the TGME build and commissioning phase; direct attribution to Theta delivery milestones remains limited.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Board and Senior Management · Bill Richie Yang profile; career/role section
FailureDocumented · Medium materiality
2025 feasibility study production target was retracted and later replaced
Theta’s October 2025 prospectus reproduces its 3 October ASX retraction: the company said it did not have a reasonable basis for the Base Case production target and forecast financial information in the Optimised Feasibility Study released three days earlier, and expressly cautioned investors not to rely on it. On 3 February 2026 Theta issued a Revised Feasibility Study with a new mine plan and financial estimates, including an Ore Reserve Plan as well as a Base Case containing Inferred Resources; the report itself says the Base Case cannot be guaranteed and Inferred Resources are speculative. This is a material disclosure and project-planning failure followed by revised disclosure.
Role overlaps event; causation unproven · This company-level event occurred during the executives’ reported Theta roles. Reviewed evidence does not show which individual prepared or approved the retracted target, and does not establish personal fault; attribution is limited to role overlap and team oversight.
Retraction of Production Target (reproduced in October options prospectus) · Retraction of Production Target reproduced in prospectus, PDF pp.7–8
Half-Year Financial Report – 31 December 2025 · Revised feasibility study details and caution concerning Inferred Resources, PDF pp.13–17
Evidence gaps · 3
- Exact dates for prior roles and independent confirmation of profile claims were unavailable in the reviewed materials.
- Issuer leadership page labels the Executive Director of Finance role as “Executive Director”; no dated announcement resolving the title difference was found.
- The reviewed ASX/issuer disclosure establishes the company’s production-target retraction and later revised study but does not identify which executive prepared or approved the September 2025 target or the decision process leading to its publication.
Jacques Du Triou
Chief Operations Officer – South Africa
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
Harmony career to General Manager (2009–2015); founded and led Qmotion Mining.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Senior Management · Chief Operating Officer / Jacques Du Triou
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
Project construction and South African operating experience described for Guy and Du Triou is relevant to the TGME build and commissioning phase; direct attribution to Theta delivery milestones remains limited.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Senior Management · Chief Operating Officer / Jacques Du Triou
FailureDocumented · Medium materiality
2025 feasibility study production target was retracted and later replaced
Theta’s October 2025 prospectus reproduces its 3 October ASX retraction: the company said it did not have a reasonable basis for the Base Case production target and forecast financial information in the Optimised Feasibility Study released three days earlier, and expressly cautioned investors not to rely on it. On 3 February 2026 Theta issued a Revised Feasibility Study with a new mine plan and financial estimates, including an Ore Reserve Plan as well as a Base Case containing Inferred Resources; the report itself says the Base Case cannot be guaranteed and Inferred Resources are speculative. This is a material disclosure and project-planning failure followed by revised disclosure.
Role overlaps event; causation unproven · This company-level event occurred during the executives’ reported Theta roles. Reviewed evidence does not show which individual prepared or approved the retracted target, and does not establish personal fault; attribution is limited to role overlap and team oversight.
Retraction of Production Target (reproduced in October options prospectus) · Retraction of Production Target reproduced in prospectus, PDF pp.7–8
Half-Year Financial Report – 31 December 2025 · Revised feasibility study details and caution concerning Inferred Resources, PDF pp.13–17
Evidence gaps · 3
- The reviewed public professional and issuer materials did not establish verified degrees or professional credentials for this executive.
- Exact dates for prior roles and independent confirmation of profile claims were unavailable in the reviewed materials.
- The reviewed ASX/issuer disclosure establishes the company’s production-target retraction and later revised study but does not identify which executive prepared or approved the September 2025 target or the decision process leading to its publication.
Brent Hofman
Chief Financial Officer (Australia); Company Secretary
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
Current CFO (Australia) and Company Secretary; previous roles not sufficiently documented in reviewed sources.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Board and Senior Management · 2025 Annual Report, key management personnel profile; career/role section
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
Project construction and South African operating experience described for Guy and Du Triou is relevant to the TGME build and commissioning phase; direct attribution to Theta delivery milestones remains limited.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Board and Senior Management · 2025 Annual Report, key management personnel profile; career/role section
FailureDocumented · Medium materiality
2025 feasibility study production target was retracted and later replaced
Theta’s October 2025 prospectus reproduces its 3 October ASX retraction: the company said it did not have a reasonable basis for the Base Case production target and forecast financial information in the Optimised Feasibility Study released three days earlier, and expressly cautioned investors not to rely on it. On 3 February 2026 Theta issued a Revised Feasibility Study with a new mine plan and financial estimates, including an Ore Reserve Plan as well as a Base Case containing Inferred Resources; the report itself says the Base Case cannot be guaranteed and Inferred Resources are speculative. This is a material disclosure and project-planning failure followed by revised disclosure.
Role overlaps event; causation unproven · This company-level event occurred during the executives’ reported Theta roles. Reviewed evidence does not show which individual prepared or approved the retracted target, and does not establish personal fault; attribution is limited to role overlap and team oversight.
Retraction of Production Target (reproduced in October options prospectus) · Retraction of Production Target reproduced in prospectus, PDF pp.7–8
Half-Year Financial Report – 31 December 2025 · Revised feasibility study details and caution concerning Inferred Resources, PDF pp.13–17
Evidence gaps · 3
- The reviewed public professional and issuer materials did not establish verified degrees or professional credentials for this executive.
- Exact dates for prior roles and independent confirmation of profile claims were unavailable in the reviewed materials.
- The reviewed ASX/issuer disclosure establishes the company’s production-target retraction and later revised study but does not identify which executive prepared or approved the September 2025 target or the decision process leading to its publication.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-06-30 · 1,337,136,337 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 17.85% | 238,695,487 | |
| 2 | 15.14% | 202,462,391 | |
| 3 | 6.03% | 80,608,757 | |
| 4 | 4.18% | 55,858,905 | |
| 5 | 3.83% | 51,180,574 | |
| 6 | 3.49% | 46,645,701 | |
| 7 | 3.48% | 46,546,484 | |
| 8 | 3.30% | 44,133,334 | |
| 9 | 3.14% | 41,927,115 | |
| 10 | 2.61% | 34,862,597 | |
| 11 | 2.57% | 34,379,789 | |
| 12 | 2.45% | 32,800,000 | |
| 13 | 2.45% | 32,730,995 | |
| 14 | 2.16% | 28,918,032 | |
| 15 | 1.79% | 24,000,000 | |
| 16 | 1.79% | 23,896,343 | |
| 17 | 1.72% | 23,015,179 | |
| 18 | 1.67% | 22,342,912 | |
| 19 | 1.63% | 21,737,182 | |
| 20 | 1.46% | 19,555,556 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 6.49%Voting power | 2026-09-21 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The ranked table lists registered accounts, not a complete or live beneficial-owner register; nominee and custodian accounts may represent multiple investors.
- The shareholder page does not state a measurement date; 30 June 2026 is used as the annual reporting-period end date. The latest local substantial-holder filings through 28 September 2026 should be treated as separate updates.
Sources
- 2026 Annual Report
Theta Gold Mines Limited / ASX · Published 2026-09-30 · Accessed 2026-10-09
Largest registered ordinary-share holder table and disclosed share quantities/percentages.
2026/2026-09-30_2026 Annual Report_96c334f731832298.pdf; PDF page 123, ASX Additional Shareholder Information
- Change in substantial holding
Theta Gold Mines Limited / ASX · Published 2026-09-28 · Accessed 2026-10-09
2invest/Deutsche Balaton group reports current voting power after a 900,000-share change.
2026/2026-09-28_Change in substantial holding_0cd3b4f990ab01ac.pdf; PDF pages 1-2, Form 604 sections 1-4
Disclosed activity
Insider transactions
Trading activity0 buys · 0 sells shownNet cash last 12 months no tradesShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-09-22 | Bill Richie Yang
Details & evidence for Bill Richie Yang on 2026-09-22As disclosed: Exercise of 1,000,000 Performance Rights and issue of 1,000,000 fully paid ordinary shares; consideration $150,000.
Director · Start not disclosed Change in Director's Interest Notice - Bill Richie Yang ↗ | Exerciseperformance rights exercised into fully paid ordinary shares | 1,000,000 | AUD 150,000.00 | AUD 0.15Calculated average | — |
| 2026-09-22 | Guyang (Brett) Tang
Details & evidence for Guyang (Brett) Tang on 2026-09-22As disclosed: 1,000,000 Performance Rights exercised following completion of funding and issue of 1,000,000 fully paid ordinary shares; consideration $150,000.
Director · Start not disclosed Change in Director's Interest Notice - Brett Tang ↗ | Exerciseperformance rights exercised into fully paid ordinary shares | 1,000,000 | AUD 150,000.00 | AUD 0.15Calculated average | — |
| 2026-09-22 | Hansjoerg Plaggemars
Details & evidence for Hansjoerg Plaggemars on 2026-09-22As disclosed: Exercise of 100,000 Performance Rights following funding and issue of 100,000 fully paid ordinary shares; consideration $15,000.
Director · Start not disclosed Change in Director's Interest Notice - Hansjoerg Plaggemars ↗ | Exerciseperformance rights exercised into fully paid ordinary shares | 100,000 | AUD 15,000.00 | AUD 0.15Calculated average | — |
| 2026-09-22 | Charles William (Bill) Guy
Details & evidence for Charles William (Bill) Guy on 2026-09-22As disclosed: 1,000,000 Performance Rights exercised following completion of funding and issue of 1,000,000 fully paid ordinary shares; consideration $150,000.
Director · Start not disclosed Change in Director's Interest Notice - Bill Guy ↗ | Exerciseperformance rights exercised into fully paid ordinary shares | 1,000,000 | AUD 150,000.00 | AUD 0.15Calculated average | — |
| 2026-09-22 | Byron Karl Lester Dumpleton
Details & evidence for Byron Karl Lester Dumpleton on 2026-09-22As disclosed: 250,000 Performance Rights exercised following completion of funding, resulting in issue of 250,000 fully paid ordinary shares; consideration $37,500.
Director · Start not disclosed Change in Director's Interest Notice - Byron Dumpleton ↗ | Exerciseperformance rights exercised into fully paid ordinary shares | 250,000 | AUD 37,500.00 | AUD 0.15Calculated average | — |
The closest covered peers
Peer comparison
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Narrative and provenance
Research & Sources
AI Analyst Report
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Sign in or enter a guest codeChronological evidenceSource-document inventory20 documents
TGM.AX local ASX daily closeMarket Data · HighExtracted
TGM.AX local ASX daily close: 0.18 AUD/share on 2026-09-25. market data provider via local miners.collect_stock_prices; 13,905 shares traded; one ASX TGM ordinary share.
- Document ID
- price20260925
- Published UTC
- 2026-09-25T06:00:00Z
- Projects
- —
- Commodities
- —
XAU/USD historical spot closeCommodity Data · HighExtracted
XAU/USD historical spot close: 4287.25 USD/oz on 2026-09-25.
- Document ID
- gold20260925
- Published UTC
- 2026-09-25T06:00:00Z
- Projects
- —
- Commodities
- gold
Application for quotation of securities - TGMCorporate Action · HighExtracted
Post-conversion issued capital and remaining listed/unlisted securities.
- Document ID
- quotation202609
- Published UTC
- 2026-09-23T08:43:39Z
- Projects
- —
- Commodities
- —
TGM Completes First Bond Drawdown of A$51.2 MillionFinancing · HighExtracted
All initial disbursement conditions met; US$37m first draw received, balance subject to cost-to-complete tests.
- Document ID
- drawdown202609
- Published UTC
- 2026-09-09T23:27:00Z
- Projects
- tgme
- Commodities
- gold
Proposed issue of securities - TGMCorporate Action · HighExtracted
Proposed 32.8 million shares to settle historical unsecured loan.
- Document ID
- proposal202608
- Published UTC
- 2026-08-07T02:22:47Z
- Projects
- —
- Commodities
- —
Conversion of Unsecured Loan to EquityCorporate Action · HighExtracted
Issuer agrees to settle long-standing unsecured loan with 32.8m ordinary shares at A$0.18 deemed price.
- Document ID
- loanconversion202608
- Published UTC
- 2026-08-07T02:22:00Z
- Projects
- tgme
- Commodities
- gold
Quarterly Activities & Cashflow Report - 30 June 2026Operations · HighExtracted
June 2026 quarter physical construction, cash and debt status.
- Document ID
- q4fy26
- Published UTC
- 2026-07-30T23:34:44Z
- Projects
- tgme
- Commodities
- gold
Application for quotation of securities - TGMCorporate Action · MediumExtracted
Quotation of exercised options and post-issue capital register.
- Document ID
- quotation202607
- Published UTC
- 2026-07-03T08:21:25Z
- Projects
- —
- Commodities
- —
Investor Presentation - Pathway to ProductionPresentation · HighExtracted
June 2026 construction and first-gold roadmap; study economics repeated.
- Document ID
- presentation202606
- Published UTC
- 2026-06-28T23:18:31Z
- Projects
- tgme
- Commodities
- gold
Proposed issue of securities - TGMFinancing · MediumExtracted
Proposed 125.7 million-share financing at A$0.18.
- Document ID
- proposal202606
- Published UTC
- 2026-06-28T23:17:51Z
- Projects
- tgme
- Commodities
- gold
US$90 Million Senior Secured Bond Issue – Pathway to Gold ProductionFinancing · HighExtracted
Four-year US$90m senior secured bond, 12.75% coupon, 95.9 issue price and project completion covenant.
- Document ID
- bondterms202606
- Published UTC
- 2026-05-31T22:32:00Z
- Projects
- tgme
- Commodities
- gold
Quarterly Activities & Cashflow Report - 31 March 2026Operations · MediumExtracted
March 2026 quarter construction and cash flow.
- Document ID
- q3fy26
- Published UTC
- 2026-04-30T04:29:58Z
- Projects
- tgme
- Commodities
- gold
Half-Year Accounts as at 31 December 2025Results · HighExtracted
December 2025 interim statutory financial statements.
- Document ID
- halfyear2026
- Published UTC
- 2026-03-15T22:02:58Z
- Projects
- —
- Commodities
- —
Notification regarding unquoted securities - TGMCorporate Action · LowExtracted
Unquoted security register notice.
- Document ID
- rights202602
- Published UTC
- 2026-02-19T02:31:08Z
- Projects
- —
- Commodities
- —
Revised Feasibility Study Confirms A$1.4B Free Cash FlowStudy · HighExtracted
Current independent revised TGME feasibility study with reserve-only comparison.
- Document ID
- fs2026
- Published UTC
- 2026-02-02T22:45:28Z
- Projects
- tgme
- Commodities
- gold
Quarterly Activities & Cashflow Report - 31 Dec'25Operations · MediumExtracted
December 2025 quarter construction and cash flow.
- Document ID
- q2fy26
- Published UTC
- 2026-01-30T04:10:16Z
- Projects
- tgme
- Commodities
- gold
Quarterly Activities & Cashflow Report - 30 Sept'25Operations · MediumExtracted
September 2025 quarter construction and cash flow.
- Document ID
- q1fy26
- Published UTC
- 2025-10-31T02:17:24Z
- Projects
- tgme
- Commodities
- gold
Retraction of Production TargetStudy · HighExtracted
Retracts the September 2025 production target; replaced by February 2026 study.
- Document ID
- retraction2025
- Published UTC
- 2025-10-03T08:58:59Z
- Projects
- tgme
- Commodities
- gold
Optimised Feasibility Study Unlocks US$1.2B Free Cash FlowStudy · MediumExtracted
September 2025 production target and study subsequently retracted.
- Document ID
- fs2025
- Published UTC
- 2025-09-30T09:09:31Z
- Projects
- tgme
- Commodities
- gold
2025 Annual ReportResults · HighExtracted
Fiscal 2025 statutory report, management and economic-interest baseline.
- Document ID
- annual2025
- Published UTC
- 2025-09-30T08:33:45Z
- Projects
- —
- Commodities
- —
Evidence facts48
32800000 shares
2026-08-075904000 AUD
2026-08-0713314000 USD
2026-06-306105200 oz
2021-02-01604000 oz
2026-02-0313208000 USD
2026-06-300 USD
2026-06-3018600000 USD
2026-07-03True None
2026-07-31pending None
2026-07-3121737182 shares
2026-07-03Q4 2026 None
2026-06-29Q1 2027 None
2026-06-29125706919 shares
2026-06-290.18 AUD/share
2026-06-2910712000 USD
2026-03-31True None
2026-03-3111593000 USD
2025-12-31See security classes in Appendix 3G None
2026-02-19455000000 USD
2026-02-03220000000 USD
2026-02-032884 USD/oz
2026-02-0377000000 USD
2026-02-03871000 oz
2026-02-03514000 oz
2026-02-03630000000 USD
2026-02-03Q1 2027 None
2026-02-0312474000 USD
2025-12-313372000 USD
2025-09-30retracted None
2025-10-03retracted None
2025-09-3074 percent
2025-06-30Charles William Guy; Bill Richie Yang; Jacques Du Triou; Brent Hofman None
2025-09-30-6894000 USD
2025-06-301376105106 shares
2026-09-2338968769 shares
2026-09-225952742.0218 AUD
2026-09-2290000000 USD
2026-06-0112.75 percent
2026-06-014 years
2026-06-012027-09-30 None
2026-06-0132800000 shares
2026-08-0711593000 USD
2025-12-3137000000 USD
2026-09-100.7232 USD per AUD
2026-09-100.18 AUD/share
2026-09-2513905 shares
2026-09-254287.25 USD/oz
2026-09-25Conflicts requiring judgment1
- Production target status
October 2025 retraction superseded the September target; February 2026 revised study is current.