West Wits Mining (WWI) Q3 2026 TU earnings summary

Executive summary

• Achieved maiden gold pour at Qala Shallows in March 2026, marking transition to gold producer.

• Production ramp-up underway, targeting steady-state output by 2028.

• Secured ~163,000L diesel for energy security; grid power connection expected Q4 2026.

• Institutional equity placement of A$33.74M fully funds Qala Shallows to steady-state.

• Project 200 Scoping Study initiated to assess scaling production to ~200koz p.a.

Financial highlights

• Institutional placement raised A$33.74M, including A$10M from Tribeca Investment Partners.

• Received $1.6M from exercise of options during the quarter.

• Cash and cash equivalents at quarter end: A$40.1M.

• Net cash used in operating activities: A$2.17M for the quarter.

• Net cash used in investing activities: A$12.52M for the quarter.

Outlook and guidance

• Focused on ramping up production and achieving operational consistency.

• Targeting steady-state production of ~70,000oz per annum over a 12-year mine life.

• Project 200 Scoping Study to be completed by June 2026, aiming for ~200,000oz p.a.