West Wits Mining Limited (ASX:WWI) has been granted a trading halt by the ASX as it considers, plans and executes a potential capital raising.
The halt will remain in place until the start of regular trading on Tuesday, August 3, or until an announcement is released to the market, whichever occurs earliest.
Gold resource restated
The company has restated the gold mineral resource estimate for the Witwatersrand Basin Project (WBP) in South Africa to reflect the reduction in surface footprint provided for in the recently granted Mining Right.
Importantly, the areas not included in the reduced Mining Rights area were non-core and do not affect the mine plan.
The global resource has been restated at 25.91 million tonnes at 4.26 g/t for 3.55 million ounces of gold at a 2 g/t cut-off.