West Wits Mining Limited’s (ASX:WWI) exploration director Andrew Tunks has nearly doubled his stake in the company with the purchase of 475,000 shares.
Given his position at the pointy end of operations, Tunks' decision is a strong endorsement of the company’s exploration prospects as it targets projects in Australia and South Africa.
READ: West Wits Mining eyes conglomerate hosted gold targets in the Pilbara
Management said on Wednesday that it was considering recommencing small-scale mining operations at the Tambina Gold Project in Western Australia later in the year.
The forerunner to this would be the identification of suitable conglomerate hosted gold targets, an initiative that Tunks would be heavily involved in.
Utilisation of legacy data
With remaining leases and substantial historical geological data, taking a two-pronged approach at Tambina makes sense.
Management indicated that if it were to progress along the lines of developing a small-scale production project, Tambina could contribute modest cash flow towards the end of 2018.