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West Wits Mining Limited (ASX:WWI)

ALERT: Price-sensitive ASX Announcement for WWI
Current share price for WWI : $0.425 -0.075 (-15%)+
Announcement
Release
21 May 2026 9:08AM
Price at Release
$0.500
Full Release
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Summary
West Wits Mining Limited has executed a binding term sheet for a senior loan facility of up to ZAR 875 million with Absa Bank Limited and Nedbank Limited. This new loan facility replaces a previous agreement with Absa Bank and IDC, enhancing flexibility and providing access to a broader range of banking services, which aligns with West Wits' strategic growth and development of the Qala Shallows Gold Project. The loan supports the project's continued development, targeting steady-state operations by 2028, and includes a requirement to hedge 50% of planned gold sales during construction to protect against price fluctuations.
Key Points
  • West Wits executes binding term sheet for ZAR 875 million loan facility.
  • Facility provided by Absa Bank and Nedbank, replacing previous arrangement with IDC.
  • New loan offers enhanced flexibility and broader banking support.
  • Funds to support development of Qala Shallows Gold Project.
  • First new gold mine development in South Africa in over 15 years.
  • Hedging requirement includes 50% of planned gold sales.
  • Project targets steady-state operations by 2028.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.