West Wits Mining Discloses AU$21 Million Funding for South Africa Project, Shares Up 3%
MT Newswires Live
Yesterday
West Wits Mining (ASX:WWI) said its Qala Shallows gold project in South Africa is fully funded to steady-state production after it received a second drawdown of about AU$21 million from its Absa and Nedbank senior debt facility, according to a Wednesday Australian bourse filing.
The company said the drawdown followed cost-to-complete and covenant testing, which further de-risks the path to steady-state production.
The company expects recovered gold production of 10,000 ounces to 15,000 ounces in 2027, 42,500 ounces in 2028, and 70,000 ounces in 2029, with primary production from stoping set to begin in February 2027.
The company's shares rose 3% in recent Wednesday trade.
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