Name of the Project
Witwatersrand basin project (WBP) – Qala Shallows Phase 1.

Location
At the northern edge of the Witwatersrand basin, in the Central Rand Goldfield, immediately south-west of the City of Johannesburg, in Gauteng, South Africa.

Project Owner/s
West Wits Mining.

Project Description
The Qala Shallows Phase 1 project forms part of West Wits’ WBP and covers a 60% subsection of the WBP scoping study.

Phase 1 has a declared ore reserve of 3.2-million tonnes grading 2.81 g/t, and total mineral resources estimated at 29.05-million tonnes grading 4.58 g/t gold.

Total production is estimated at 680 000 oz of gold over a 15.7-year life-of-mine (LoM).

Steady-state production is estimated at 55 000 oz/y for ten years.

Phase 2, or Project 200, aims to substantially increase production to 200 000 oz/y of gold. A scoping study is scheduled for 2023 to determine additional infrastructure capital expenditure. Additional infrastructure includes process and tailings storage facilities, shafts and access points.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 7.5% discount rate, of $180-million and an internal rate of return of 38%, with a payback of five years.

Capital Expenditure
Peak funding is estimated at  $63-million.

Planned Start/End Date
Phase 1 is expected to be completed in 2026.

Latest Developments
West Wits Mining is expecting "material improvements" in the production and economics of its WBP.

The company is in the midst of updating the definitive feasibility study (DFS) for its Qala Shallows project to include information gained from underground survey works, optimisation of the mine plan and updated market assumptions. The updated DFS is expected within the next month.

Key Contracts, Suppliers and Consultants
Modi Mining (mining contract); and Bara Consulting (LoM production profile).

Contact Details for Project Information
West Wits Mining, tel +61 3 8692 9049 or email info@westwitsmining.com.