Company
West Wits Mining Limited
ASX:WWI
West Wits is focused on the exploration, development and production of high value precious and base metals for the benefit of shareholders, communities and environments in which it operates. The company’s Witwatersrand Basin Project, located in the proven gold region of Central Rand Goldfield in South Africa boasts a 7.24 Moz gold project at 4.00g/t.
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West Wits Mining achieves key milestones at Witwatersrand Basin Gold Project
The mining right application and scoping study completion are pivotal to achieving the company’s goal of becoming a junior gold producer targeting more than 60,000 ounces gold per annum over a 15-year plus mine life.
West Wits Mining farm-in partner Rio Tinto completes DHEM survey at Mt Cecelia Project
The intention is to use the results, which are expected to be available in June 2023, to guide a diamond drill campaign.
West Wits Mining and partner Rio Tinto kick off maiden drilling program at Mt Cecelia JV in WA
“Commencement of drilling at our Mt Cecelia project by farm-in partner Rio Tinto Exploration transitions this highly prospective exploration tenement into an exciting stage of exploration," MD and CEO Jac van Heerden said.
West Wits Mining secures cost-effective toll treatment agreement, further de-risking Witwatersrand Basin Project in South Africa
Finalisation of this toll treatment arrangement is a key step towards completing the phase one Qala Shallows WBP funding process.
West Wits Mining fields up to 1,321 ppm uranium and 12.15 g/t gold in phase one drilling at Witwatersrand Basin Project
“The opportunity is significant as it may allow for uranium to be mined concurrently with the gold bearing reefs within the Bird Reef Sequence," said CEO Jac Van Heerden.
West Wits Mining strengthens board with appointment of experienced mining analyst as director
Warwick Grigor’s broad experience across mining and finance industries makes him well placed to assist the company as it executes its strategic transformation into a mid-tier gold producer.
West Wits Mining’s trade-off studies at WBP confirm merits of progressing to a further scoping study
The company’s Witwatersrand Basin Gold Project (WBP) in South Africa holds a 4.28-million-ounce JORC mineral resource at 4.58 g/t gold.
West Wits Mining raises $2.5 million to develop the 4.28-million-ounce Witwatersrand Basin Gold Project in South Africa
Manging director Jac Van Heerden said the placement was a "great result for West Wits", especially given the current market conditions and inflationary environment. The funding will be used to advance the Witwatersrand Basin Gold Project to
West Wits Mining raises $2.5 million to develop the 4.28-million-ounce Witwatersrand Basin Gold Project in South Africa
“Securing this $2.5 million placement at a time when there is global market uncertainty is a great result for West Wits, as we maintain operational readiness at Qala Shallow to move into production, whilst concurrently carrying out Phase 1
West Wits Mining to target uranium in new phased exploration drilling campaign
Looking ahead, the company plans to complete a scoping study to confirm the viability of a stand-alone uranium mining operation on the Bird Reed Central area.
West Wits Mining's revised Qala Shallows DFS indicates improved outlook for Witwatersrand Basin Project
“The revised DFS shows that even with recent inflation and increased costs, especially diesel, the optimisation of the mine plan still yielded positive results and confirms our view of having a long-term robust project," said MD Jac van Hee
West Wits Mining shares approved for real time clearing and settlement in the US
Following its secondary quotation on the OTCQB market, trading under ticker code WMWWF, the company’s common shares can now be cleared and settled in real time after it completed full-service eligibility from the DTCC.
West Wits to increase project ownership and extend long-term partnership
“The Acquisition increases WWI’s share of the WBP at a substantial notional discount to the value implied by the US$227 million NPV of the WBP Scoping Study released in March this year,” West Wits Managing Director Mr Jac van Heerden said.
West Wits Mining shares surge after securing equity financing facility to raise up to $75 million
This equity financing facility is intended to operate as a standby financing mechanism to provide for flexible management of working capital through progressive drawdowns at WWI’s sole discretion as it advances the 4.28Moz gold Witwatersran
West Wits Mining now trading on the OTCQB
“OTCQB trading provides West Wits Mining with access to the world’s largest investment market. A growing number of ASX listed mining companies have sought dual trading in the US, in order to provide North American investors direct and real-
West Wits Mining receives valuation of up to 12.1 cents from Pitt Street Research as it begins gold production
“We have now re-rated the stock to 6.1 cents per share base case and 12.1 cents per share optimistic case on the back of revised project estimates from the scoping study of March 2022,” said the report.
West Wits Mining scoping study confirms sustained profitability for WBP gold development
“These excellent and robust results from the scoping study confirm our clear strategy to advance the WBP into a significant gold production operation targeting 65,000 ounces per annum over a long life of 27 years at highly attractive econom
West Wits Mining delivers first gold ore from Witwatersrand Basin Project in South Africa
“This is a historic moment for West Wits as we deliver our first ore from our Witwatersrand Basin Project. I must compliment the team, who were able to establish the site, rehabilitate the box cut and the declines and access the ore in a sa
West Wits Mining initiated by Pitt Street Research with BUY recommendation and A$0.054 – A$0.076 share price target
“We have valued WWI at 5.4 cents per share base case and 7.6 cents per share optimistic case using the DCF approach, with conservative assumptions on annual gold production and gold prices," said Pitt Street Research.
West Wits Mining raises A$5.8 million in well-supported rights issue
A further $2 million is expected to come by way of shortfall arrangements taking total capital raising proceeds, including a $A1.6 million placement, to A$9.4 million.
West Wits Mining has first ore from flagship Witwatersrand Basin Project earmarked for February
The project is expected to deliver a staggering 1.56 million ounces of gold over the course of its life, with output over 18 years averaging up to 90,000 ounces per annum.
West Wits Mining subsidiary enters $10 million farm-in joint venture with Rio Tinto to explore Mt Cecelia tenement
“RTX brings a wealth of technical expertise, resources and regional knowledge which, combined with synergies from their exploration of Mt Cecelia’s neighbouring tenements (that are held 100% by RTX), will enable the Mt Cecelia targets to be
West Wits Mining increases global JORC resource 20% to 4.28 million ounces at 4.58 g/t gold at Witwatersrand Basin Project
“Increasing the MRE by 20% in ounces and grade by 0.32 g/t sees us ending 2021 on a high note. We are very much looking forward to a prolific 2022, commencing with the production from our Early Mining Initiative,” says MD.
West Wits Mining out to bank A$9.3 million from underwritten rights issue and placement
The funding runway will help WWI ramp up work ahead of its first ore production, expected in quarter one of 2022.
West Wits Mining welcomes uranium revival with renewed exploration target at Witwatersrand Basin Project
The Witwatersrand asset is more than just a precious metals play, with West Wits on course to advance uranium exploration over its iconic gold property.
West Wits Mining to establish small mining footprint at Qala Shallows from February 2022
The initiative will see production commence in February 2022, with plans to produce between 5,000 and 8,500 tonnes of ore per month.
West Wits Mining appoints Africa-focused debt advisor to spearhead project financing
With Taurum’s appointment, WWI is a step closer to assessing financing options that will support the circa US$50 million required to bring the Witwatersrand gold asset online.
West Wits makes steady progress towards gold production following Qala Shallows DFS
Following the release of the DFS, Qala Shallows’ project development commenced in September 2021. West Wits expects production to commence in early 2022.
West Wits Mining takes action to reinstate resources at its South African Project.
WWI’s next steps include the submission of an environmental management plan, as well as a prospecting works plan to the DMRE as part of the standard application process.
West Wits Mining confirms high-priority Mt Cecelia targets via ground survey
The developer behind the 3.55-million-ounce Witwatersrand Basin gold play in South Africa used the survey to confirm the prospectivity of its four exploration prospects at the greenfields Mt Cecelia asset in WA ahead of maiden drilling next
West Wits Mining chairman Michael Quinert increases shareholding
Last week, West Wits released the DFS for Qala Shallows, the first stage of planned mine development at its Witwatersrand Basin Project in South Africa.
West Wits Mining DFS forecasts gold production of 663,000 ounces at Qala Shallows
Qala Shallows is the first of five planned stages of development at the company’s flagship Witwatersrand Basin Project in South Africa.
West Wits Mining's scoping study production model highlights Witwatersrand Basin Project long-life potential
Results have indicted the potential to turn the project into a long-term gold producer with average steady stage annual production of 80,000 ounces for 18 years over a 20-year mine-life.
West Wits Mining's MD recaps progress across gold exploration assets in premier regions
The gold explorer recently completed a $7 million capital raise to rapidly advance a development program at its cornerstone Witwatersrand Basin Project in South Africa.
West Wits Mining to raise $7 million for Witswatersrand gold project development
The fresh capital will support West Wits’ development strategy as it continues to evolve its cornerstone South African gold project.
West Wits Mining granted trading halt with capital raising news pending
Securities will remain halted until Tuesday, August 3, 2021, or when an announcement is released to the market.
West Wits Mining restates gold resource following mining right grant for Witwatersrand Basin Project
The mining right grant paves the way for completion of the definitive feasibility study on the flagship project which will facilitate declaration of the maiden ore reserve in August 2021.
West Wits Mining up 31% following “milestone” mining right grant for Witwatersrand Basin project
Company shares soared on the key approval, which brings West Wits a step closer to producing more than 60,000 ounces of gold per annum at its core Central Rand Goldfields asset.
West Wits Mining adds 149,000 gold ounces to Witwatersrand Basin Project’s resource estimate
The resource upgrade brings West Wits a step closer to establishing a maiden ore reserve for the 4.47-million-ounce gold play, with a definitive feasibility study slated for completion next month.
West Wits Mining welcomes confirmation that South African Mining Right application "is in good order"
The company is targeting gold in two premier regions, Witwatersrand in South Africa and the Pilbara in Australia.
West Wits Mining up 58% after path cleared for South African gold production with EA reinstated
“The Minister’s decision to reinstate West Wits’ EA approval is a pivotal milestone for the company and clears the pathway for the DMRE to finalise the granting of WWI’s mining right at the WBP,” says chairman.
West Wits Mining boosts balance sheet by conversion of notes
West Wits is approaching the anticipated granting of the mining right application and scheduled completion of the bankable feasibility study in Q2 2021 at the Witwatersrand Basin Project.
West Wits Mining identifies eight target areas for further exploration at Paterson Province project in WA
Four of the eight target areas have been classified as ‘high priority’ and will be the focus of ground exploration planned for 2021.
West Wits Mining appoints Tim Chapman as non-executive director
The company has also announced the resignation of Dr Andrew Tunks who was pivotal in growing the company’s mineral resource estimate during his tenure.
West Wits Mining begins infill drilling at 4.3-million-ounce WBP Gold Project
As a part of ongoing drilling, the company plans to drill 23 holes for 2,500 metres aimed at improving the confidence levels of areas targeted for early mining.
West Wits Mining hits 10-year high on boosting WBP gold bounty to 4.37 million ounces
“We are confident that we will be able to bring the WBP into production relatively quickly given our plan for toll treatment at nearby facilities and easy access to the underground workings,” says MD.
West Wits Mining aerial survey identifies five targets at Paterson Province project
The company believes the Heliborne Electromagnetic Survey over the Cecelia tenement will provide its geological team with important data to focus on drill target generation.
West Wits Mining receives notice of intention to approve EA application for South African project
Work on the third-party scoping study and exploration activities to convert the exploration target into a JORC-compliant resource is progressing well.
West Wits Mining raising US$1 million to progress key gold value drivers in South Africa and Western Australia
The company has entered into a subscription agreement with a US-based investment group to raise US$1 million through the issue of 1 million convertible notes.
West Wits Mining clarifying matters raised in WBP Mining Right application
The company expects to provide a formal response this week, more than two weeks prior to the deadline.
West Wits Mining chairman shows faith in gold strategy with on-market purchase
Michael Quinert has acquired more than 2.9 million shares and now holds almost 26.05 million.
West Wits Mining prepares for transition to gold producer with Witwatersrand development driven by executive appointment
The company is confident in Witwatersrand with the gold price strengthening as project development continues.