West Wits Mining set to unlock value of Indonesian gold project
The company had previously written down to no value its holding in the Derewo River Gold Project.
Company
ASX:WWI
West Wits is focused on the exploration, development and production of high value precious and base metals for the benefit of shareholders, communities and environments in which it operates. The company’s Witwatersrand Basin Project, located in the proven gold region of Central Rand Goldfield in South Africa boasts a 7.24 Moz gold project at 4.00g/t.
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The company had previously written down to no value its holding in the Derewo River Gold Project.
The company anticipates the placement shares will be issued early next week, at which it will seek reinstatement of its securities to quotation.
Mt Cecelia is 70 kilometres west of Rio Tinto’s recent Winu copper-gold discovery and Rio’s exploration licence applications adjoin more than 60% of Mt Cecelia’s tenement boundary.
Investments and investor services
The Sydney session is on next Monday, June 3, and the Melbourne session is on Tuesday, June 4.
Investments and investor services
The company plans to redevelop the historical Dolphin mine on King Island’s southeast coast.
Hardware & electrical equipment
A recent strategic review has resulted in the company focusing on the global healthcare sector.
Ecuador received the “Best Country” award at Mines and Money London in 2017 for its attractiveness for mineral investors and growing mining industry.
Mt Cecelia project is on the boundary between the world class copper-gold rich Paterson Province and the Pilbara Craton.
The company has recently acquired gold projects in Ecuador, a rapidly evolving exploration hotspot.
Hardware & electrical equipment
The company will be presenting at the CEO session in Sydney on Monday, June 3 and in Melbourne on Tuesday, June 4.
The company holds 2,600 square kilometres of ground near Tenant Creek, NT and 2,400 square kilometres near Fifield, NSW.
The company will be presenting the CEO session in Sydney on Monday June 3 and in Melbourne on Tuesday June 4 2019.
The company established gold producer status when it commenced open-pit mining in June 2017.
Sixty per cent of Mt Cecelia project’s boundaries are surrounded by Rio Tinto, which has upped its landholding in the region by 1,000%.
The environmental impact assessment (EIA) is well advanced and expected to be submitted by the end of May 2019.
West Wits is advancing the Witwatersrand Basin Gold Project in South Africa and the Mt Cecelia Gold Project in WA's Pilbara region.
The company is focused on conglomerate gold in two premier regions, WA’s Pilbara and Witwatersrand in South Africa.
The $240,000 will enable West Wits to accelerate mining applications for its Witwatersrand Basin Project and progress development of the Kimberley East underground project.
Director’s and key management’s interests took up $80,000 of the share purchase plan (SPP).
The project is in the same region in which Rio Tinto has pegged large areas of exploration ground.