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An announcement from West Wits Mining Limited ( (AU:WWI) ) is now available.
West Wits Mining has announced a 44% increase in the JORC (2012) Mineral Resource Estimate for its Witwatersrand Basin Project to 7.24 million ounces at an average grade of 4.0 grams per tonne, with 4 million ounces now in the Measured and Indicated categories. The upgrade is driven by the grant of a new prospecting right (PR 10839), which adds 1.2 million ounces and provides a seamless depth extension to the Qala Shallows mine, as well as by a lower cut-off grade that brings an additional 1 million ounces into the resource, reflecting higher gold price assumptions. Management says the larger, high-grade resource base enhances the project’s scale, mine-life potential and planning flexibility, while a recently completed institutional placement has strengthened the balance sheet to fully fund Qala Shallows’ build-out to 70,000 ounces per year steady-state production, with first gold targeted for March 2026.
The most recent analyst rating on (AU:WWI) stock is a Sell with a A$0.09 price target. To see the full list of analyst forecasts on West Wits Mining Limited stock, see the AU:WWI Stock Forecast page.
More about West Wits Mining Limited
West Wits Mining Limited is an Australian-listed gold developer focused on advancing its flagship Witwatersrand Basin Project in Johannesburg, South Africa. The company is developing the Qala Shallows gold mine and related ore bodies within one of the world’s most historically prolific gold districts, targeting high-grade underground production and long-life operations supported by a growing JORC-compliant resource base.
Average Trading Volume: 15,161,218
Technical Sentiment Signal: Buy
Current Market Cap: A$319.6M
Learn more about WWI stock on TipRanks’ Stock Analysis page.