West Wits Mining Limited
West Wits Mining Limited
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The launch of an early mining initiative is forecast to see West Wits Mining deliver the first gold ore in the March 2022 qtr at the Qala Shallows area within the Witwatersrand Basin project in South Africa.
The planned 5,000-8,500tpm ore to be produced from remnant material left from the mine’s closure 20 years ago is additional to the Qala Shallows production targets set out in the company’s project DFS.
West Wits Mining has appointed African-focused independent financial advisor Taurum International to lead the debt funding push for its proposed $US50M Witwatersrand Basin project development in South Africa’s Central Rand Goldfield.
MD Jac van Heerden says Taurum, headed by founders Andreas Lobert and Greg Nichles, has an excellent track record in securing finance for mining projects.
The challenges keep coming for West Wits Mining over its Witwatersrand Basin gold project in South Africa’s Central Rand Goldfield, this time an appeal to the Department of Mineral Resources and Environment by the public interest advocacy group Lawyers for Human Rights against the award of its mining right.
Australian-based West Wits says the new appeal simply recycles arguments already rejected three times by the DMRE and the environment minister.
South African-focused West Wits Mining sees potential to produce 1.73Moz gold over 25 years in a scoping study for its 66.6%-owned Witwatersrand Basin project in the Central Rand Goldfield, with still further growth potential beyond its current JORC resource of 3.55Moz (25.91Mt @ 4.26g/t).
The preliminary technical and economic study by Bara Consulting comes as WWI nears completion this month on Qala Shallows, identified as the project’s first development stage.
Explorer/developer West Wits Mining will focus on ramping up project execution through H2 2021 after finally gaining the mining right for its 66.6%-owned Witswatersrand Basin project in South Africa’s Central Rand Goldfield.
The Department of Mineral Resources and Energy approval comes as the Australian-based company awaits completion of the independent DFS on the Qala Shallows project area immediately SW of Johannesburg.
West Wits Mining is set to ramp up activity towards its target of maiden underground gold production in 2021 following the South African government’s dismissal of three appeals lodged against the environmental approval of its Witwatersrand Basin project in the Central Rand Goldfield SW of Johannesburg.
Environment Minister Barbara Creecy’s decision reinstates the approval initially granted in June 2020, paving the way for the granting of its mining right.
The economic potential of West Wits Mining’s flagship Witwatersrand Basin project in South Africa has been substantially improved by the posting of an updated JORC mineral resource estimate of 4.37Moz gold (35.1Mt @ 3.88g/t), increasing the previous resource by 700,000oz and 0.48g/t.
MD Jac van Heerden says it’s a tremendous confidence boost to the mineralisation and mine modelling now under way.
An independent scoping study has confirmed the pathway for rapid development of West Wits Mining’s 3.65Moz gold JORC resource Witwatersrand Basin project in South Africa.
MD Jac van Heerden says it has provided the motivation for the Australian-based explorer to move directly to a BFS commencing in Sept on the initial underground target area on the Kimberley Reef East package.
The Bara Consulting study confirmed a development strategy to produce 50,000-60,000ozpa at steady state production.
Australian-based WWI is confident of reaching production and processing targets at its Witwatersrand Basin gold operations in South Africa in May after a difficult two months in which above-average rainfall and a processing plant bottleneck impacted production.
Although the shortfall meant the mine's cash-flow failed to cover costs, WWI said it was left with about 4,450t of stockpiled ore that would generate additional revenue in the current period.
(REGULATION) West Wits Mining takes the next steps towards its growth as a junior miner in South Africa with the acceptance by the mining regulator of its application for mining rights over its Witwatersrand Basin project.