West Wits Mining - WWI (ASX) News & Expert Insights from Stockhead

West Wits Mining Limited (ASX: WWI) (OTCQB: WMWWF) is focused on the exploration, development and production of high value precious and base metals for the benefit of shareholders, communities and environments in which it operates.

WWI’s Witwatersrand Basin Project (WBP), located in the proven gold region of Central Rand Goldfield in South Africa boasts a 4.28Moz gold project at 4.58g/t. The Witwatersrand Basin holds the world’s largest known gold reserves and has produced over 1.5 billion ounces (over 40,000 metric tons), which represents about 22% of all the gold accounted for above the surface. The WBP presents a revenue opportunity of USD 2.6 billion and its Phase 1 Qala Shallows’ Definitive Feasibility Study supports an underground mining operation with a robust rate of 3.2MT at 2.81g/t recovered grade for total production 680,000oz Au over a 17-year Life-of-Mine and covers a 60% subsection of the Scoping Study. It is set at an average Steady-State production of 55,000oz per annum for 10 years at an AISC of US$962/oz. A Phase 2 is aimed at achieving a further substantial increase of production with an aspirational target of 200,000oz per annum.

In the Paterson Provence, Western Australia, a maiden drilling program at West Wits’ 100% owned Mt Cecelia Project was completed in December 2022 hitting significant interval gold mineralisation at its primary electro-magnetic target. Targeting gold, nickel and copper, the exploration program is managed by Rio Tinto (RIO) under a A$10M Farm-In/JV Agreement for RIO to earn up to 80% interest in the project. The district supports several world-class projects including Woodie Woodie manganese-, Nifty copper- and Telfer gold/copper/silver mines.

KEY PEOPLE

Mr Quinert is a founding partner of Quinert Rodda & Associates which was established in July 2009. He has over 30-years’ experience as a commercial and corporate lawyer, including three years with ASX and over 20 years as a partner in a Melbourne law firm. Mr Quinert has extensive experience assisting and advising companies on IPOs, capital raising, cross border transactions, regulatory compliance and has regularly advised publicly listed mining companies.

Mr van Heerden holds an MBA and Bachelor of Engineering (Mining) and has over 20 years of mining experience. Prior to joining West Wits, Mr van Heerden presided over a Cobalt (5,000t pa) and Copper (50,000t pa) operation in the Democratic Republic of Congo (DRC), overseeing the mining operation and two processing facilities, also including a medical centre and schooling program. A key achievement associated with the DRC role was the introduction of stricter capital controls, improved CAPEX and OPEX budget forecasting, KPI measurement and enhanced direct reporting lines to improve accountability and cash flow.

Mr Grigor is a graduate of the Australian National University, having completed degrees in law and economics. After a short period with Hamersley Iron Pty Ltd, he embarked upon a career as a mining analyst and an investment banker specialising in the mining sector. He established Far East Capital Limited as a 50:50 partner with Andrew Forrest in 1991. Mr Grigor was subsequently the founding Executive Chairman of Canaccord Genuity Australia in 2008. He retired from Canaccord in 2014, returning to Far East Capital, which now operates as an AFSL accredited private investment bank offering independent research, corporate advice and capital raising services.