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West Wits Mining Limited (ASX:WWI)

ALERT: Price-sensitive ASX Announcement for WWI
Current share price for WWI : $0.385 -0.02 (-4.94%)+
Announcement
Release
1 Jul 2026 9:12AM
Price at Release
$0.405
Full Release
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Summary
West Wits Mining Limited announced the achievement of financial close and the first drawdown of a R875 million (approximately USD 53 million) Senior Loan Facility. This significant funding milestone, supported by Absa Bank and Nedbank CIB, de-risks the Qala Shallows Gold Project in South Africa. The first drawdown of R339 million (USD 20.5 million) facilitates the deployment of senior debt into the Qala Shallows, accelerating project execution. The funding will support the development of surface infrastructure, expansion of plant and equipment, and advancement of mining operations towards the target of 70,000 ounces of gold production per annum. The project, located in the Witwatersrand Basin, is expected to achieve steady-state production over a 12-year mine life, backed by robust financial and operational planning.
Key Points
  • Financial close and first drawdown of R875M Senior Loan Facility achieved.
  • Loan facility provided by Absa Bank and Nedbank CIB.
  • First drawdown of R339M received, accelerating project execution.
  • Funding de-risks the Qala Shallows Gold Project.
  • Project targeted to produce 70,000oz Au per year.
  • 12-year mine life anticipated for Qala Shallows.
  • Support for development of surface infrastructure and expansion of equipment.
  • Project located in the Witwatersrand Basin, South Africa.
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.