West Wits Mining Limited ( (AU:WWI) ) has provided an update.
West Wits Mining Limited has secured a senior debt facility of up to ZAR 902.5 million (~USD 50 million) from the Industrial Development Corporation of South Africa and Absa Bank Limited for its Qala Shallows Gold Project. This funding, covering 55% of the project costs, marks a significant step towards production, with the first gold pour targeted for Q4 2025. In light of gold prices exceeding USD 3,000/oz, the company is conducting a strategic review to optimize its mining plans and potentially unlock additional value from the Witwatersrand Basin Project.
More about West Wits Mining Limited
West Wits Mining Limited operates within the mining industry, focusing primarily on gold extraction. The company is engaged in the development of the Witwatersrand Basin Project in South Africa, which includes multiple ore bodies and aims to capitalize on favorable gold prices.
YTD Price Performance: 90.0%
Average Trading Volume: 4,661,802
Technical Sentiment Signal: Hold
Current Market Cap: A$49.88M
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