West Wits Mining Raises Capital to Fast-Track Qala Shallows Gold Development

West Wits Mining Limited (ASX: WWI) has successfully raised AU$17.5 million through a placement to institutional and professional investors, strengthening its financial position to advance the Qala Shallows Project within the Witwatersrand Basin. The placement, conducted at AU$0.04 per share, will issue 437.5 million new shares at a modest discount to recent trading prices. Proceeds, combined with an existing IDC/Absa loan facility and Nebari funding, will support mine development, operating expenses, financing requirements, and working capital.

The Qala Shallows Definitive Feasibility Study outlines reserves of 4.6Mt at 2.60g/t for 383,934 ounces of gold, supporting a 17-year mine life with steady production of 70,000 ounces annually over 12 years. Stage One marks the first step of a multi-stage strategy to unlock the full potential of West Wits’ 5.025Moz resource in South Africa. The company also maintains exploration interests in Western Australia’s Mt Cecilia project, targeting gold and copper.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com