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West Wits Mining Limited ( (AU:WWI) ) has shared an announcement.
West Wits Mining Limited has announced significant developments in its Witwatersrand Basin Project, including the award of a new Prospecting Right, which increases the Mineral Resource Estimate by 749,000 ounces and enhances the global grade. This improvement has the potential to extend the operational lifespan and boost production at the Qala Shallows mine. Additionally, the company has made strides in securing a syndicated loan facility to fund the Qala Shallows Gold Project, covering up to 60% of project funding requirements. The final approval for this funding is pending, but it is expected to provide a solid foundation for advancing the mine’s development.
More about West Wits Mining Limited
West Wits Mining Limited is a mining company focused on the exploration and development of gold resources. Its primary project is the Witwatersrand Basin Project, which involves mining activities in South Africa, particularly focusing on the Kimberley, Bird, and Main Reefs. The company is involved in activities that enhance its mineral resource estimate and secure funding to support its mining operations.
YTD Price Performance: 14.29%
Average Trading Volume: 2,670,261
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$40.98M
See more insights into WWI stock on TipRanks’ Stock Analysis page.
