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West Wits Mining Limited ( (AU:WWI) ) has issued an announcement.
West Wits Mining Limited has secured a senior syndicated loan facility of ZAR 875 million (~USD 50 million) to fund the development of the Qala Shallows Gold Project, marking a significant step forward in its operations. This funding, provided by the Industrial Development Corporation of South Africa and Absa Bank, will cover 55% of the project’s costs, with the remainder financed through equity and operational revenues. The project is expected to create over 1,000 jobs and contribute to regional economic growth, as the company transitions from planning to active development with key infrastructure and personnel in place.
More about West Wits Mining Limited
West Wits Mining Limited is a mining company focused on the development of gold projects, particularly in the Witwatersrand Basin in South Africa. The company is involved in the extraction and processing of gold, with a market focus on sustainable mining practices and regional economic development.
Average Trading Volume: 6,058,624
Technical Sentiment Signal: Hold
Current Market Cap: A$68.98M
For a thorough assessment of WWI stock, go to TipRanks’ Stock Analysis page.