West Wits Mining chairman Michael Quinert talked with Proactive about the company’s $17.5 million capital raise, which will accelerate the development of the Qala Shallows, the first stage of its five-phase Witwatersrand Basin Project in South Africa.
The raise forms part of West Wits' broader financial strategy, complementing a previously announced US$12.5 million facility from the Natural Resources Fund. Quinert said the new capital "more than covers what our minimum to it under that requirement", confirming the company is now fully funded to reach sustainable production.
According to Quinert, West Wits has already begun pre-production works at Qala Shallows. With contractors on-site and underground decline access re-established, development activities are moving into full swing. The chairman stated, “We are confident we will be producing ore before the end of October.”
The company expects to stockpile ore into early 2025, targeting first gold pour as early as March or April. Quinert added that the past three months of preparatory work, including mobilisation and site activation, have positioned West Wits to seamlessly continue into the next phase of the project.
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