West Wits Mining Ltd (ASX:WWI, OTCQB:WMWWF) chairman Michael Quinert talked with Proactive earlier this week about how the company is accelerating development at its Qala Shallows Project in South Africa, supported by a forthcoming A$14 million capital raise and a strategic move to increase its ownership in the broader Witwatersrand Basin Project (WBP) to 74%.
Highlights
The company is advancing multiple key workstreams to transition into gold production:
- Capital raise: A$14 million funding initiative to support mine development
- Ownership increase: Stake in Witwatersrand Basin Project (WBP) lifted to 74%
- Minority buy-back: Consolidation of South African subsidiary ownership
- Optimised DFS: Updated Definitive Feasibility Study reflecting stronger gold prices and enhanced economics
- Project mobilisation: Initial site works and equipment deliveries underway at Qala Shallows
- Strategic growth: Progressing Project 200 long-term expansion plan for broader WBP potential
- Transition to production: Company advancing toward gold producer status in a globally significant gold region
These milestones position West Wits for a major transition into gold production, leveraging one of the world’s most historically significant gold provinces.