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West Wits Mining Limited ( (AU:WWI) ) has issued an update.
West Wits Mining Limited has secured credit approval for a ZAR 902.5 million loan facility, approximately USD 50 million, to advance its Qala Shallows Gold Project in South Africa. This development, part of the Witwatersrand Basin Project, is supported by the Industrial Development Corporation of South Africa and Absa Bank Limited, which will fund 55% of the project, with the remainder covered by equity and early revenues. The project is expected to bolster local economic development and potentially create over 1,000 direct jobs, with final legal documentation and financial close anticipated soon.
More about West Wits Mining Limited
West Wits Mining Limited is focused on the exploration, development, and production of high-value precious and base metals. The company operates within the Witwatersrand Basin in South Africa, known for its substantial gold reserves, and is also active in Western Australia exploring gold and copper. West Wits aims to benefit shareholders, communities, and the environments in which it operates.
YTD Price Performance: 60.0%
Average Trading Volume: 2,302,903
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$41.2M
For detailed information about WWI stock, go to TipRanks’ Stock Analysis page.
