https://www.miningweekly.com
Africa|Engineering|Environment|Gold|Mining|PROJECT|Maintenance|Operations
Africa|Engineering|Environment|Gold|Mining|PROJECT|Maintenance|Operations
africa|engineering|environment|gold|mining|project|maintenance|operations

West Wits to raise A$1.4m

3rd May 2024

By: Sabrina Jardim

Creamer Media Online Writer

     

Font size: - +

To strengthen its balance sheet and fund its ongoing operations, ASX-listed West Wits Mining has secured firm commitments from unrelated existing and new sophisticated and professional investors to raise A$1.4-million, before costs, through a share placement.

It intends to issue about 107.69-million fully paid ordinary shares at A$0.013 a piece.

The proceeds will be used for site maintenance, engineering and production planning on its Qala Shallows project, in South Africa, as well as for project finance activities, including due diligence, and to meet general corporate and working capital requirements.

The placement shares are expected to be allotted on or about May 9.

“The strong support for this placement underscores our confidence in the Qala Shallows gold project as we push to secure project funding to facilitate commencement of mining.

“With ore production scheduled only six to eight weeks from commencement, investors recognised the opportunity to gain exposure to near-term production in a surging gold price environment,” says West Wits chairperson Michael Quinert.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
12th June 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.198 0.237s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: