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West Wits eyes second SA development

14th March 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – South Africa-focused West Wits Mining has selected a second surface project for development at its Soweto cluster gold project, in Gauteng.

The ASX-listed company told shareholders on Tuesday that the Main and South Reef (M&S) project had been selected as the second project to be developed in the pipeline of five or six surface opportunities at the Soweto project.

The M&S project forms part of West Wits’ broader strategy of developing a number of surface opportunities providing cash flow to further expand the company’s resource from 1.37-million ounces, as well as to develop a larger mine plan, with the aim of sustaining the production of 100 000 oz/y for a minimum of ten years.

“The selection of M&S is the result of a continuing review of the large pipeline of opportunities which the Soweto cluster hosts. We intend to progress the development of M&S quickly and are in active discussions with potential contractors who have the necessary expertise and capacity,” said chairperson Michael Quinert.

“We are aiming to be in a position to execute a heads of agreement in the near term.”

Edited by Creamer Media Reporter

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