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West Wits Mining (WWI) investor relations material
West Wits Mining Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investment highlights
First gold poured in March 2026, with Qala Shallows ramping up to 70,000 oz per annum steady-state production.
DFS all-in sustaining cost (AISC) of US$1,289/oz versus spot gold above US$4,000/oz, supporting strong margins.
Fully funded to steady-state with a ~A$97M Absa/Nedbank package and A$32M cash as of June 2026.
7.24Moz JORC Mineral Resource base underpins current and future growth.
Bird Reef Central project adds uranium-gold exposure and further development optionality.
Operational progress and production profile
Underground development and surface infrastructure are advancing, with 544m developed by June 2026.
Workforce expanded to 431, targeting ~1,100 at steady state.
17-year mine life with a 70,000 oz p.a. steady-state plateau for about 10 years.
Ramp-up phase underway, aiming for steady-state by Q1 2029.
Ore Reserve of 384koz at 2.60g/t and Qala Shallows mining inventory of 1.03Moz at 3.0g/t.
Financial performance and outlook
Life-of-mine revenue projected at US$2.7bn, with US$983M free cash flow and US$500M post-tax NPV7.5.
Post-tax IRR of 81% at US$2,850/oz gold price; robust even at lower gold prices.
8-month payback period and 35% IRR at US$1,850/oz gold price.
Cash margin of ~US$3,300/oz at current spot prices, with downside protection from put options.
EV per MRE ounce at A$27/oz, indicating a potentially undervalued asset.
- First gold poured, resource base expanded, and full project financing secured for ramp-up.WWI
H2 2026 - Major operational breakthrough, full project funding secured, and gold production ramping up.WWI
Q4 2026 TU - Fully funded gold project with 7.24Moz resource, robust economics, and major expansion plans.WWI
Investor presentation - First gold pour achieved, ramp-up underway, and funding secured for steady-state production.WWI
Q3 2026 TU - Fully funded, ramping up Qala Shallows for first gold in March 2026, with expanded WBP ownership.WWI
H1 2026 - Qala Shallows is production-ready with financing in progress, but going concern risks remain.WWI
H2 2024 - Secured major funding, advanced Qala Shallows, and posted a $3.68m FY25 loss with strong cash reserves.WWI
H2 2025 - First gold expected March 2026, with major expansion and strong ESG focus underway.WWI
RIU Explorers Conference 2026 - Fully funded gold project with 7.24Moz resource, strong economics, and first gold in March 2026.WWI
Investor presentation
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