West Wits Mining Limited (AU:WWI) has released an update.
West Wits Mining Limited has successfully raised $1.4 million through share placement to sophisticated and professional investors, intending to fund the Qala Shallows gold project and general corporate needs. The funds will accelerate the project’s engineering, production planning, and due diligence activities for project finance, with gold production expected to commence within 6-8 weeks. The placement, managed by Far East Capital Limited and Ignite Equity Pty Ltd, involved issuing over 107 million shares at A$0.013 each, and it was completed without requiring a prospectus or shareholder approval.
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