Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
West Wits Mining Limited ( (AU:WWI) ) has issued an update.
West Wits Mining Limited has officially opened the Qala Shallows Underground Mine in South Africa, marking the first new underground gold mine in the region in 15 years. This development is a significant milestone for the company and the South African gold sector, contributing to regional economic development and revitalizing the historic gold province. The project, which has already delivered its first ore, is expected to produce approximately 70,000 ounces of gold annually for 12 years, with a life-of-mine of 17 years. It will create over 1,000 jobs and contribute more than US$1.15 billion to the South African economy. The commencement of operations at Qala Shallows transitions West Wits from a developer to a producer, reinforcing its commitment to South Africa and setting the foundation for future growth through the broader Witwatersrand Basin Project.
The most recent analyst rating on (AU:WWI) stock is a Hold with a A$0.05 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 focused on the exploration, development, and production of high-value precious and base metals. The company operates primarily in the Central Rand Goldfield of South Africa, with its flagship project being the Witwatersrand Basin Project, which boasts a significant gold resource.
Average Trading Volume: 21,865,226
Technical Sentiment Signal: Buy
Current Market Cap: A$207.1M
For a thorough assessment of WWI stock, go to TipRanks’ Stock Analysis page.