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West Wits Mining Limited (ASX:WWI)

ALERT: Price-sensitive ASX Announcement for WWI
Current share price for WWI : $0.425 -0.053 (-10.99%)+
Announcement
Release
19 Jun 2026 2:57PM
Price at Release
$0.478
Full Release
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Summary
West Wits Mining Limited has completed the execution of definitive loan agreements for a project finance package worth ZAR 1,115 million to fund the Qala Shallows Gold Project, a key stage of the Witwatersrand Basin Project. The package is provided by Absa Bank and Nedbank CIB and includes a ZAR 875 million Senior Loan Facility, a ZAR 150 million Working Capital Facility, and a ZAR 90 million Cost Overrun Debt Facility. This financing structure allows West Wits to mitigate risks and ensures the project's progression towards steady-state production of 70,000 ounces of gold annually by the fourth quarter of 2028. With this financial backing, the company aims to increase ore delivery rates and establish a grid power connection to enhance operational efficiency.
Key Points
  • West Wits Mining executed definitive loan agreements for Qala Shallows finance package.
  • Finance package totals ZAR 1,115 million provided by Absa Bank and Nedbank CIB.
  • Includes ZAR 875 million Senior Loan Facility, ZAR 150 million Working Capital Facility, ZAR 90 million Cost Overrun Debt Facility.
  • Project targets steady-state production of 70,000oz gold annually by Q4 2028.
  • Facilities mitigate risks and support project ramp-up and development.
  • West Wits focuses on operational efficiency and increased ore delivery rates.
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.