West Wits Mining Ltd (ASX:WWI) has appointed experienced financial advisor Taurum to lead its debt financing strategies.
The Africa-focused advisory firm will weigh in on financing discussions surrounding the company’s cornerstone Witwatersrand Basin gold play in South Africa.
In the future, the company hopes to move to producer status in the Central Rand Goldfields, a region famous for hosting the world’s largest-known gold reserves.
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.
Delivering favourable financing options
Commenting on Taurum’s appointment, West Wits managing director Jac van Heerden said: “We are pleased to confirm the appointment of Taurum International to drive debt funding negotiations for West Wits.
“Taurum has an excellent track record in successfully securing the financing needs for many mining projects, which boosts our confidence in their ability to deliver the most favourable financing options for West Wits.”
In one of world’s oldest gold regions
WWI’s Witwatersrand Basin Project is made up of two historic mining centres on the northern edge of its namesake basin in the Central Rand Goldfields.
The ASX-lister hopes to become a junior gold producer, targeting more than 60,000 ounces a year over the asset’s 20-year plus mine life.
The Witswatersrand asset is currently thought to host 3.55 million gold ounces, with maiden production targeted in early 2022.
Africa-focused debt advisor
Taurum is an independent financial advisory firm that predominantly focuses on the mining and resources sectors in Africa.
Spearheaded by Andreas Lobert and Greg Nichles, Taurum has successfully closed many rounds of debt financing and corporate transactions for listed and private mining clients, including South 32 (LSE:S32), Galiano Gold Inc, Prospect Resources Ltd (ASX:PSC) and LionOre Mining International Ltd.
Lobert brings more than 20 years of investment banking experience across several continents.
Throughout his international career, he advised on numerous mergers and acquisitions, equity capital raisings, restructurings, disposals and listings.
Nichles also brings nearly two decades of investment banking experience to the table.
He’s facilitated capital raisings in excess of US$1.4 billion, including mergers and acquisitions valued at US$2.65 billion.
He co-founded Taurum with Lobert in 2016.