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West Wits Mining Limited ( (AU:WWI) ) has issued an update.
West Wits Mining Limited has had a transformative year, securing substantial funding and advancing its Qala Shallows Gold Project towards production. The company strengthened its financial position with a ZAR 875 million loan from South African banks and a US$12.5 million facility from Nebari, alongside successful equity raises. These efforts have enabled West Wits to increase its project ownership and simplify its structure. The updated Definitive Feasibility Study highlighted the project’s potential, with significant upside due to current gold prices. Bloomberg recognized Qala Shallows as South Africa’s first new underground gold mine in 15 years, emphasizing its strategic importance. The company aims to maintain its development schedule, targeting its first gold pour in March 2026 and a steady-state production rate by 2028.
More about West Wits Mining Limited
West Wits Mining Limited (ASX: WWI) (OTCQB: WMWWF) is engaged in the exploration, development, and production of high-value precious and base metals. The company operates primarily in the Witwatersrand Basin in South Africa, known for its significant gold reserves, and is also exploring gold and copper in Western Australia.
Average Trading Volume: 22,445,086
Technical Sentiment Signal: Buy
Current Market Cap: A$191.7M
See more data about WWI stock on TipRanks’ Stock Analysis page.