West Wits Secures ZAR 875 million Senior Loan Facility to Advance Qala Shallows Gold Project
West Wits Mining Limited (ASX: WWI) has executed a binding term sheet for a senior loan facility of up to ZAR 875 million (~US$53 million) with Absa Bank and Nedbank Corporate & Investment Banking, strengthening funding support for the Qala Shallows Gold Project in South Africa. The new facility replaces the previously announced Absa Bank and IDC funding arrangement while providing broader banking flexibility and enhanced project financing capability.
The funding package will support ongoing underground development, production ramp-up and operational expansion at Qala Shallows, which forms Stage 1 of the Company’s broader Witwatersrand Basin Project (WBP). The facility includes drawdown availability through June 2028, with final maturity scheduled for June 2031. Management highlighted that the structure maintains upside exposure to rising gold prices through a Put Option hedging strategy rather than full hedging.
West Wits recently achieved maiden gold production at Qala Shallows following ore deliveries to the Ezulwini processing plant in March 2026. The Company expects production growth to continue as underground development advances toward steady-state operations targeted by 2028. The broader WBP hosts a Global JORC Mineral Resource Estimate of 7.24Moz at 4.0g/t Au within South Africa’s historic Witwatersrand Basin.
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.au
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West Wits Secures ZAR 875 million Senior Loan Facility to Advance Qala Shallows Gold Project
West Wits Mining Limited (ASX: WWI) has executed a binding term sheet for a senior loan facility of up to ZAR 875 million (~US$53 million) with Absa Bank and Nedbank Corporate & Investment Banking, strengthening funding support for the Qala Shallows Gold Project in South Africa. The new facility replaces the previously announced Absa Bank and IDC funding arrangement while providing broader banking flexibility and enhanced project financing capability.
The funding package will support ongoing underground development, production ramp-up and operational expansion at Qala Shallows, which forms Stage 1 of the Company’s broader Witwatersrand Basin Project (WBP). The facility includes drawdown availability through June 2028, with final maturity scheduled for June 2031. Management highlighted that the structure maintains upside exposure to rising gold prices through a Put Option hedging strategy rather than full hedging.
West Wits recently achieved maiden gold production at Qala Shallows following ore deliveries to the Ezulwini processing plant in March 2026. The Company expects production growth to continue as underground development advances toward steady-state operations targeted by 2028. The broader WBP hosts a Global JORC Mineral Resource Estimate of 7.24Moz at 4.0g/t Au within South Africa’s historic Witwatersrand Basin.
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.au