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West Wits Mining (WWI) investor relations material
West Wits Mining Noosa Mining Investor Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Noosa Mining Investor Conference summary13 Nov, 2025
Project Overview and Operations
Qala Shallows, part of the Witwatersrand Basin Project near Johannesburg, is fully operational with all mine infrastructure in place and is the first new underground gold mine in South Africa in 15 years.
The mine is ramping up production, with ore delivered to the plant for toll treatment under an agreement with Sibanye-Stillwater's Ezulwini Plant.
Modern mining methods, including hydropower, are being implemented, and a stockpile is being built.
The project is designed for long-life, low-cost, scalable gold production, aiming for a 17-year mine life and steady-state output of 70,000oz per annum from 2028.
The mine is expected to employ 1,000 local workers, supporting strong community relations and leveraging a skilled workforce.
Financials and Funding
Market capitalization has grown from $70 million to $200 million in under a year, with over $12 million in the bank.
Fully funded to sustainable production through equity, Nebari loan, ZAR 875M syndicated facility, and additional loans including $12.5 million from Nedbank and up to $50 million from Absa Bank and IDC.
Updated DFS confirms nearly $1 billion (US$983M) free cash flow, $500 million post-tax NPV, and 81% IRR over 17 years at a $2,850/oz gold price.
Even at a $1,850/oz gold price, the project delivers a 35% IRR, ensuring strong economic resilience.
Production ore during development is expected to reduce reliance on debt, with an 8-month payback period projected.
Resource Base and Growth Potential
Global Mineral Resource Estimate exceeds 5 million ounces at 4.66g/t Au (JORC 2012), with Qala Shallows using only 1 million ounces and 65% of resources in Measured & Indicated categories.
Ore Reserve for Qala Shallows is 4.6Mt at 2.60g/t for 384,000oz gold.
Historic resource on the property was 12.8 million ounces, indicating significant upside potential.
Additional targets, including Qala Deeps and Bird Reef, are in scoping studies, with Bird Reef Central offering a combined gold and uranium opportunity and feasibility work planned in the next 6-12 months.
Ongoing drilling and prospecting right applications are underway to convert resources to reserves and expand the project footprint.
Impact of production ore on debt funding
Bird Reef gold-uranium project development timeline
Key operational risks for Qala Shallows ramp-up?
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Next West Wits Mining earnings date
H1 202611 Mar, 2026
Next West Wits Mining earnings date
H1 202611 Mar, 2026
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Frequently asked questions
West Wits Mining Limited is a mining and exploration company focused on gold and battery minerals. The company has projects in South Africa and Australia, with its primary asset being the Witwatersrand Basin Project in South Africa, which aims to develop gold resources. In Australia, West Wits Mining explores for lithium and other critical minerals to support the battery supply chain. The company is headquartered in Perth, Australia, and its shares are listed on the ASX.
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