West Wits Secures USD 12.5 million Nebari Loan for Qala Shallows

West Wits Mining Limited (ASX: WWI) has executed definitive agreements with Nebari Natural Resources Credit Fund II LP for an initial USD 12.5 million loan facility, marking a key milestone in advancing its Qala Shallows Gold Project, Stage 1 of the Witwatersrand Basin Project in South Africa. The funds will cover mine development, operational needs, financing costs, and working capital, ensuring a fully funded pathway to first gold.

The facility, with a total potential of USD 35 million, offers scalability through additional tranches over the next two years under the same terms. The loan carries a 48-month tenor, SOFR-based interest with an 8.5% margin, and warrants convertible into WWI shares. Importantly, it preserves flexibility to access a ZAR 875 million South African bank facility. With site mobilisation nearly complete and underground equipment due in October, West Wits is on track for first ore this month and gold pour in Q1 2026, marking its transition from developer to producer.

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