Theta Gold Mines (ASX:TGM) confirmed AU$1.41 billion free cash flow from 6.1 million ounces gold resource with the revised feasibility study for its Transvaal Gold Mining Estates gold mine project in South Africa, according to a Tuesday filing with the Australian bourse.

The updated study also confirmed a 13.1-year life-of-mine, with production expected to start in the first quarter of 2027, the filing said.

Gold plant construction is underway, with existing surface and underground infrastructure and the necessary permitting already in place, per the filing.

Shares rose nearly 9% in morning trade Tuesday.