Proactiveinvestors Australia West Wits Mining Limited https://www.proactiveinvestors.com.au Proactiveinvestors Australia West Wits Mining Limited RSS feed en Mon, 27 May 2019 02:13:44 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - West Wits Mining brings South African gold to Proactive’s CEO Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/220736/west-wits-mining-brings-south-african-gold-to-proactives-ceo-sessions-220736.html West Wits Mining Limited (ASX:WWI) is focused on developing its Witwatersrand Basin Gold Project in South Africa.

The project's scoping report was recently accepted by the mining regulator, enabling progression to the final stage of the mining licence submission process.

The Witwatersrand Project hosts a JORC resource of 3.65 million ounces grading 3.4 g/t gold which is the base for a full-scale mine development under the mining licence being progressed.

Chairman Michael Quinert will outline the company's strategy to investors at the Proactive CEO Sessions next month in Sydney and Melbourne.

READ: West Wits Mining banks Witwatersrand Basin receipts as it works on Paterson Province plan

West Wits also holds several Australian exploration projects with the company entering into a farm-in agreement with First Au Ltd (ASX:FAU) for the Pilbara-based Tambina project in March.

The company is also in the process of revealing an exploration plan for the Mt Cecelia Project located within the highly prospective Paterson Province of Western Australia.

The Paterson Province is highly prospective for gold and copper mineralisation and includes mining operations such as Metals X Limited’s (ASX:MLX) Nifty copper mine and Newcrest’s (ASX:NCM) Telfer gold mine

Register for the CEO Sessions today

Sydney details, Monday, June 3, 2019

Melbourne details, Tuesday, June 4, 2019

Also featuring at the Sydney session will be Global Energy Ventures Ltd (ASX:GEV), Emmerson Resources Ltd (ASX:ERM) and XTEK Ltd (ASX:XTE) while Global Energy and XTEK will also present in Melbourne.

]]>
Wed, 22 May 2019 12:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220736/west-wits-mining-brings-south-african-gold-to-proactives-ceo-sessions-220736.html
<![CDATA[Media files - West Wits Mining expects Witwatersrand mining right to be granted by September ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13270/west-wits-mining-expects-witwatersrand-mining-right-to-be-granted-by-september-13270.html Wed, 08 May 2019 22:58:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13270/west-wits-mining-expects-witwatersrand-mining-right-to-be-granted-by-september-13270.html <![CDATA[News - West Wits Mining banks Witwatersrand Basin receipts as it works on Paterson Province plan ]]> https://www.proactiveinvestors.com.au/companies/news/218106/west-wits-mining-banks-witwatersrand-basin-receipts-as-it-works-on-paterson-province-plan-218106.html West Wits Mining Limited (ASX:WWI) specialises in gold project development in South Africa and exploration project development on the boundary of Western Australia’s standout Paterson Province and Pilbara Craton. It is run by a board which includes chairman and shareholder Michael Quinert and exploration director Dr Andrew Tunks.

Quinert has more than 30 years of experience as a commercial lawyer. He served three years with ASX Limited (ASX:ASX) and has been a partner with Melbourne law firm Quinert Rodda & Associates for more than 15 years.

Tunks has headed up Tunks GeoConsulting for six years and has been the managing director of Meteoric Resources NL (ASX:MEI) (FRA:RNF) since January 2018. He previously headed up Auroch Minerals NL as its CEO in 2015-2017.

The company has also made a number of executive appointments over the past six months, including hiring highly-experienced mining executive Jac van Heerden as chief executive officer of its South African subsidiary MLI in November 2018 and adding chartered accountant Simon Whyte to its team as chief financial officer in March 2019.

What is West Wits Mining's primary asset?

The Victorian company's key assets are the flagship Witwatersrand Basin Project (WBP) on the Central Rand Goldfield of South Africa’s Witwatersrand Basin and the secondary Mt Cecelia Gold Project in Western Australia.

West Wits’ transformative goal is to be the only gold producer listed on the Australian Securities Exchange that has operations in the Witwatersrand Basin and the Pilbara (Mt Cecelia and Tambina).

The 66%-held Witwatersrand project area historically produced 41 million ounces of gold at 5 g/t over 120 years.

The latest open pit mining operations began at the project in June 2017, delivering free cash flow by November 2017.

A resource upgrade to 1.9 million ounces in December 2017 preceded three mining right applications in March-April 2018.

On April 1, 2019, the company confirmed that the South African mining regulator, Department of Mineral Resources (DMR), had accepted a scoping report for the project.

DMR was satisfied the submitted plan of study for environmental impact assessment and scoping report complies with environmental impact assessment (EIA) regulations, enabling West Wits to a final stage of its mining right submission process, an environmental impact assessment report (EIAR).

The well-advanced work is expected to be complete by the end of April 2019, with a 30-day EIA public review process to start in mid-April and reviewed before an expected EIAR submission by the end of May 2019.

DMR can then take 107 days, or more than three months, to make a recommendation to the relevant minister on whether environmental authorisation should be granted.

The latest JORC resource for the project is 3.67 million ounces.

Next steps for the project include commissioning scoping and pre-feasibility studies of the first underground mine target (Kimberley East); extending open-pit operations and increasing toll-processing requirements; and continued work with community groups on positive social outcomes.

In the December quarter of 2018, the company improved the recovered grade of ore at the development project by 49% to 2.16 g/t gold.

While the tonnages, ounces and net cashflow were less than targeted ranges and the average cost was higher than forecast, the grade improvement dramatically increased profitability.

The company produced 23,463 tonnes in the December quarter and processed 24,729 tonnes for 1,630 ounces at a US$1,134 annual cost.

West Wits is developing a mine plan to demonstrate the project can produce 100,000 ounces a year over a 10-year mine life from surface and underground targets.

The targeted range in the quarter for ore produced was 37,500 to 45,000 tonnes while ore processed was 37,500-45,000 tonnes in the quarter.

What are West Wits Mining's secondary assets?

In Western Australia, West Wits has two Pilbara region projects, Tambina and Mt Cecelia.

Tambina near Marble Bar has exposure to three existing mining leases with West Wits last month entering into a farm in agreement with First Au Ltd (ASX:FAU).

First Au can earn up to an 80% interest by subscribing to a share placement of 20 million shares in West Wits at 0.9 cents each and a cash payment of $60,000 plus $500,000 of exploration expenditure over three years.

The $240,000 that the JV agreement is bringing in is expected to allow WWI to unlock value from Tambina while focusing on development of its flagship project WBP in South Africa.

Mt Cecelia is abutted by Rio Tinto Ltd (ASX:RIO) which has upped its ground in the region by 10,000 square kilometres, or 1,000%, to 11,000 square kilometres amid a series of discoveries by minors and majors in the prospective area.

West Wits’ project is also near Metals X Limited’s (ASX:MLX) Nifty copper mine and Newcrest’s (ASX:NCM) Telfer gold mine and is found 70 kilometres west of miner Rio’s Winu project.

The Mt Cecelia project area overlies geological contact between the copper-gold rich Paterson province and the Archaean aged Pilbara Craton, which is prospective for conglomerate-hosted gold, and a third NNE-SSW mineralisation corridor containing gold and base metals.

West Wits hopes to obtain an exploration licence application for Mt Cecelia project which has gold and base metals potential.

A native title agreement has been reached for Mt Cecelia, allowing Department of Mines, Industry Regulation and Safety to finish up the exploration-licence granting process.

The company has held the Derewo River Gold Project in the Papua Province of Indonesia since 2011, which West Wits believes has potential upside if the source of high-grade alluvial gravels discovered by artisanal miners can be determined.

What are West Wits Mining's financials?

West Wits had $2.4 million in customer receipts in the December quarter of 2018 and $4.3 million in the December 2018 half-year and raised $665,000 to accelerate its WBP development in December 2018 to end the year with $778,000 cash.

The company expected $3.1 million of expenses in the March quarter of 2019, with $2.7 million budgeted for production costs and $180,000 for exploration and evaluation.

West Wits raised about $243,000 for WBP through a Tambina farm-in agreement in March 2019, with its next quarterly report expected by the end of April 2019.

Inflection points

Regulatory approval wins with South African and Western Australian regulators

Continued customer receipts and financing milestones, including capital raisings

Paterson Province successes and significant transactions by neighbours, including mergers and acquisitions

Resource definition and upgrade work in Australia and South Africa

Chairman Michael Quinert highlights milestones and next steps

“The notification of formal acceptance of the WBP’s scoping report by the Department of Mineral Resources (in South Africa) completes a critical phase of the mining right application and moves the company closer to full-scale mine development on the existing 3.65 million ounce gold JORC resource,” chairman Michael Quinert said on April 1, 2019.

“The company is also pleased to report the remaining objection to Mt Cecelia project’s exploration licence application (in Western Australia) has been withdrawn, removing a significant hurdle to granting.

“Mt Cecelia’s tenement area is situated within the highly prospective Paterson Province of Western Australia (and) the company anticipates announcing an exploration plan for the project in coming months.”

 

]]>
Mon, 08 Apr 2019 18:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218106/west-wits-mining-banks-witwatersrand-basin-receipts-as-it-works-on-paterson-province-plan-218106.html
<![CDATA[News - West Wits Mining advances mining application for gold project in South Africa ]]> https://www.proactiveinvestors.com.au/companies/news/217583/west-wits-mining-advances-mining-application-for-gold-project-in-south-africa-217583.html West Wits Mining Ltd (ASX:WWI) has confirmed that the South African mining regulator, DMR, has accepted the scoping report for Witwatersrand Basin Project’s (WBP) Mining Right application, which further advances WWI’s strategic transformation into a junior miner.

The company also confirmed the withdrawal of all objections to its Mt Cecelia Exploration License Application in the Eastern Pilbara, paving the way for granting of the license and subsequent implementation of an exploration program in the highly prospective Paterson Province.

Map of WBP’s prospecting right area and initial targets under the mining right application

West Wits executive chairman Michael Quinert said: “The notification of formal acceptance of the WBP’s Scoping Report by the Department of Mineral Resources (DMR) completes a critical phase of the Mining Right Application and moves the company closer to full-scale mine development on the existing 3.65Moz gold JORC Resource.

“The company is also pleased to report the remaining objection to Mt Cecelia Project’s Exploration License application has been withdrawn, removing a significant hurdle to granting.

“Mt Cecelia’s tenement area is situated within the highly prospective Paterson Province of Western Australia. The company anticipates announcing an exploration plan for the project in coming months.”

WBP - Mining Right Application

The DMR has formally accepted WWI’s Scoping Report, which achieves a significant milestone in the Mining Right application process and moves the WBP closer to mine development.

The DMR was satisfied the submitted Plan of Study for Environmental Impact Assessment and Scoping Report complies with EIA regulations, enabling Management to complete the Environmental Impact Assessment Report (EIAR) which is the final stage of the Mining Right submission process.

READ: West Wits Mining secures funding to accelerate mining applications

The compilation of the EIAR is well advanced, in anticipation of the DMR’s acceptance of its Scoping Report the company has already completed the majority of the independent specialist studies with the remaining few studies expected to be finalised by the end of April 2019.

The EIA public review process is scheduled to take place for a 30-day period from mid-April 2019 which will enable the EIAR to be completed for submission to the DMR before the end of May 2019.

On submission of the EIAR, the DMR has 107 days to provide a recommendation on the granting of an environmental authorisation to the Minister for determination.

Mt Cecelia – Exploration License Application

The remaining objection to West Wits’ Exploration License (EL) application covering the Mt Cecelia tenement in the Paterson Province of Western Australia has been withdrawn from the department after an agreement was reached with the native title party.

The withdrawal of the objection removes a significant hurdle, allowing the Department of Mines, Industry Regulation and Safety (DMIRS) to complete the EL granting process.

The recent exploration licence applications by Rio Tinto (ASX:RIO) and announcements concerning its’ Winu Project in the Paterson Province region, about 70 kilometres east of Mt Cecelia, indicates the potential prospectivity of the area.

Mt Cecelia and neighboring East Kimberley tenements

]]>
Mon, 01 Apr 2019 12:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217583/west-wits-mining-advances-mining-application-for-gold-project-in-south-africa-217583.html
<![CDATA[News - West Wits Mining chairman Michael Quinert buys shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/217076/west-wits-mining-chairman-michael-quinert-buys-shares-on-market-217076.html West Wits Mining Ltd (ASX:WWI) chairman Michael Quinert has purchased 367,401 shares through on-market trades.

The purchase has increased Quinert’s total indirect holding in the company to about 23 million shares.

 

West Wits is advancing the Witwatersrand Basin Gold Project (WBP) in South Africa and the Mt Cecelia Gold Project in WA's Pilbara region.

The company recently raised $665,200 from a placement and share purchase plan, which included participation by directors and management.

READ: West Wits Mining secures funding to accelerate mining applications

Funds raised will assist the company to accelerate the completion of the WBP mining right/permit applications and progress development of the Kimberley East underground project.

]]>
Mon, 25 Mar 2019 15:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217076/west-wits-mining-chairman-michael-quinert-buys-shares-on-market-217076.html
<![CDATA[News - West Wits Mining appoints chief financial officer Simon Whyte as joint company secretary ]]> https://www.proactiveinvestors.com.au/companies/news/216705/west-wits-mining-appoints-chief-financial-officer-simon-whyte-as-joint-company-secretary-216705.html West Wits Mining Limited (ASX:WWI) has appointed Simon Whyte as joint company secretary effective from March 16, 2019.

Whyte has been engaged with West Wits Mining as a consultant since November 2017 with his role having grown over the period to his recent appointment as chief financial officer in November 2018 and now joint company secretary.

Philip Hains will also remain in his role as joint company secretary of West Wits Mining.

Simon Whyte is a chartered accountant with more than 10 years’ experience including Ernst & Young and BP Australia, where he worked in compliance, commercial and operational roles.

READ: West Wits Mining reaches JV and farm-in agreement to advance Tambina Gold Project

West Wits Mining executive chairman Michael Quinert said: “Simon joins recently appointed West Wits chief executive officer Jac van Heerden on WWI’s executive as the board continues to execute its strategy to equip the company with the right team as it grows towards full-scale mine development at its Witwatersrand Basin Project.

“Simon has played a key role in advancing the company’s projects in Australia and Africa since he joined us.”

His experience across multiple jurisdictions in highly regulated and complex operations, coupled with a history of delivering business improvements projects makes him an ideal candidate for West Wits Mining.

]]>
Tue, 19 Mar 2019 13:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216705/west-wits-mining-appoints-chief-financial-officer-simon-whyte-as-joint-company-secretary-216705.html
<![CDATA[News - West Wits Mining reaches JV and farm-in agreement to advance Tambina Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/216338/west-wits-mining-reaches-jv-and-farm-in-agreement-to-advance-tambina-gold-project-216338.html West Wits Mining Limited (ASX:WWI) has entered into a farm in agreement with First Au Ltd (ASX:FAU) covering the company’s Tambina Gold Project near Marble Bar in WA.

First Au is set to earn up to an 80% interest by subscribing to a share placement of 20 million shares in West Wits at 0.9 cents each and a cash payment of $60,000 plus $500,000 of exploration expenditure over three years.

The JV will allow WWI to unlock value from the Tambina project while focusing on the development of its flagship Witwatersrand Basin Project in South Africa.

 

  READ: West Wits Mining secures funding to accelerate mining applications

West Wits exploration director Andrew Tanks said: “The Tambina project is an excellent fit with FAU’s existing Pilbara project portfolio, offering significant synergies to both companies.

“The Tambina JV agreement enables the Tambina project to advance whilst allowing WWI to maintain focus and resources on its cornerstone Witwatersrand Basin Project leading up to the granting of mining rights.

“The share placement delivers on most of the shortfall from WWI’s December 2018 share purchase plan, providing top-up capital for the board to execute its WBP development strategy.

“The share placement offers FAU shareholders significant value with exposure to WWI’s expansive 3.65-million-ounce gold JORC resource as the company nears full-scale development.”

 

 

FAU’s geology team is actively exploring seven existing exploration licences (EL) across its Pilbara portfolio and Tambina’s three granted mining licences (ML) provides FAU the opportunity to include a project that can move to production without the regulatory hurdles associated with an EL.

In 2018 West Wits completed two field trips and produced a geological report, which noted there is mineralisation at surface associated with outcropping gossanous iron-earth chert layers.

Collectively the combined strike length is around 1,300 metres including two broader zones in the south-east quadrant.

 

]]>
Wed, 13 Mar 2019 14:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216338/west-wits-mining-reaches-jv-and-farm-in-agreement-to-advance-tambina-gold-project-216338.html
<![CDATA[News - West Wits Mining secures funding to accelerate mining applications ]]> https://www.proactiveinvestors.com.au/companies/news/211353/west-wits-mining-secures-funding-to-accelerate-mining-applications-211353.html West Wits Mining Ltd (ASX:WWI) has raised $665,200 from a placement and share purchase plan (SPP), which included participation by directors and management.

The company is advancing its Witwatersrand Basin Gold Project (WBP) in South Africa and the Mt Cecelia Gold Project in WA's Pilbara region.

Funds raised will assist the company to accelerate the completion of the WBP mining right/permit applications and progress development of the Kimberley East underground project.

READ: West Wits Mining’s data review highlights prospectivity of Mt Cecelia project in WA

West Wits’ chairman Michael Quinert said: “The board appreciates the ongoing support from shareholders as the company begins to ramp up operations at the Witwatersrand Basin Project.

“The funds raised enable the board to accelerate the completion of the mining right application, as well as to commission studies to progress the development of WBP’s first underground target area.

“West Wits is moving closer to unlocking the significant value of the resource already established through the exploration phase.

“Director and management’s interests applications of $80,000 demonstrate our firm belief in the project’s underlying value.”

READ: West Wits Mining shares rise after appointment of new CEO in South Africa to drive growth

 

]]>
Tue, 18 Dec 2018 08:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211353/west-wits-mining-secures-funding-to-accelerate-mining-applications-211353.html
<![CDATA[Media files - West Wits Mining looking at a busy 2019 in Western Australia and South Africa ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11417/west-wits-mining-looking-at-a-busy-2019-in-western-australia-and-south-africa-11417.html Tue, 04 Dec 2018 15:12:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11417/west-wits-mining-looking-at-a-busy-2019-in-western-australia-and-south-africa-11417.html <![CDATA[News - West Wits Mining’s data review highlights prospectivity of Mt Cecelia project in WA ]]> https://www.proactiveinvestors.com.au/companies/news/210349/west-wits-minings-data-review-highlights-prospectivity-of-mt-cecelia-project-in-wa-210349.html West Wits Mining Ltd (ASX:WWI) is encouraged by the results of a review of regional data that highlights the gold and base metals prospectivity of the Mt Cecelia project in Western Australia.

The project is on the boundary of the copper-gold rich Paterson Province and the older Pilbara Craton, both of which are prospective for differing styles of gold and base metals.

Region attracts attention

This region has been attracting plenty of attention in recent months, including from global mining major Rio Tinto plc (LON:RIO), and West Wits has been monitoring the increased activity.

Paterson Province is prospective for gold and copper, including operations such as Metal X Limited’s (ASX: MLX) Nifty copper mine and Newcrest Mining Limited’s (ASX:NCM) Telfer gold mine.

West Wits Exploration director Dr Andrew Tunks said: “Recent exploration activity throughout the Paterson Province has confirmed the exciting prospectivity of the Mt Cecelia Exploration Licence Application (ELA).

“For some time there have been rumours of Rio Tinto making a significant copper-gold discovery to the east of Mt Cecelia.”

Rio Tinto has increased its tenement area from around 1,000 square kilometres to more than 11,000 square kilometres in the region.

Mt Cecelia and neighbouring East Kimberley tenements.

Four of Rio’s applications adjoin Mt Cecelia, encompassing more than 60% of the project’s border area.

READ: West Wits Mining to raise $1 million for development of South African gold project

Tunks added: "A spectacular intersection of gold and copper by Greatland Gold PLC (LON:GGP) to the east of Telfer confirms the Paterson Province as host to further globally significant Iron Oxide Copper Gold (IOCG) systems.

Two mineralisation styles

Mt Cecelia’s north-eastern portion is prospective for IOCG mineralisation found throughout Paterson Province, including Greatland’s intersection of 275 metres at 4.77 g/t gold and 0.61% copper at the Haverion prospect.

A significant magnetic anomaly within the Mt Cecelia project area indicates increased prospectivity for IOCG mineralisation.

The south-western portion is underlain by rocks of the Pilbara Craton and is prospective for the style of conglomerate-hosted gold mineralisation recently discovered throughout the Pilbara.

This includes Novo Resources Corp’s (CVE:NVO) Beatons Creek project.

Stratigraphy map of Mt Cecelia’s tenement area.

Tunks said: “Mt Cecelia sits on the contact zone between two well-endowed gold provinces, it also covers the most prominent magnetic high on the eastern edge of the Paterson Province, an exciting sign to the possible presence of an IOCG system.”

Mt Cecelia project is about 150 kilometres ENE of Marble Bar, 150 kilometres NW of Telfer Mine and 120 kilometres NNW of Nifty Mine and in proximity to infrastructure.

The Braeside project, held by Rumble Resources Ltd (ASX:RTR), is immediately south of the project area.

READ: West Wits Mining shares rise after appointment of new CEO in South Africa to drive growth

West Wits’ discussions with one of the two Native Title Parties has resulted in the withdrawal of that party’s objection to West Wits ELA.

The company is continuing to work with the remaining Native Title Party through the National Native Title Tribunal process and is confident in reaching an outcome that benefits both parties.

]]>
Mon, 03 Dec 2018 13:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210349/west-wits-minings-data-review-highlights-prospectivity-of-mt-cecelia-project-in-wa-210349.html
<![CDATA[Media files - West Wits Mining commences Australian roadshow ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11165/west-wits-mining-commences-australian-roadshow-11165.html Tue, 13 Nov 2018 08:45:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11165/west-wits-mining-commences-australian-roadshow-11165.html <![CDATA[News - West Wits Mining shares rise after appointment of new CEO in South Africa to drive growth ]]> https://www.proactiveinvestors.com.au/companies/news/208977/west-wits-mining-shares-rise-after-appointment-of-new-ceo-in-south-africa-to-drive-growth-208977.html West Wits Mining Ltd (ASX:WWI) has hired highly-experienced mining executive Jac van Heerden as chief executive officer of its South African subsidiary.

Heerden has extensive experience across the mining lifecycle having fulfilled technical, operating and management roles at companies that include Aquarius Platinum Ltd and ERG S.p.A (BIT:ERG, FRA:ER9) Africa.

West Wits chairman Michael Quinert said: “The board is delighted to hire experienced mining executive, Jac Van Heerden, as West Wits MLI’s CEO as the company continues to grow its South African operation.

"The hiring coincides with management reaching agreement with key landowners at WBP, completing a critical phase of the application process and moving the company closer to full-scale development.

“Separately, monitoring of activity in the East Pilbara region the company has noted significant expansion of Rio Tinto (Limited)’s holdings which now neighbour over half of West Wits’ Mt Cecelia project application area.”

READ: West Wits Mining progresses permits, meets September production target

West Wits has reached agreement with key landowners on WBP’s mining licence application areas, including the City of Johannesburg.

Agreement with key landowners will trigger the Department of Mineral Resources (DMR) Environmental Authorization (EA) stage for the two mining permit application areas.

Rescheduling of the mine plan has Pit 3 (above) operational until April 2019

West Wits is confident that the significant community stakeholder support and work to date will facilitate and accelerate respective EA processes and the potential completion of the granting process.

The DMR will now complete its assessment of West Wits’ final scoping report on the broader mining right application.

The company’s next step is to run the Environmental Impact Report phase which is currently progressing as planned with the potential granting process forecast to be completed in 2Q 2019.

Gold production

Toll processing for October delivered a recovered grade of 2.114 g/t gold, a 46% increase on September’s quarterly result.

Ore processed for the month was 9,157 tonnes, lower than the target. However, production hit the target range as 1,680 tonnes ore at a head grade of 2.6g/t was stockpiled on the plant floor at month end.

The increase in recovered grade is promising as it significantly increases West Wits’ gold allocation and lowers processing costs per gold ounce.

WBP, a route to increased production

West Wits has planned multiple activities in the near term at WBP as the company continues to grow its production. These include:

Commissioning scoping and pre-feasibility studies of the first underground mine target (Kimberley East);

Extending open-pit operations, increasing toll processing requirements; and

Continuing to work with community groups to deliver positive social outcomes.

Mt Cecelia Project in the Pilbara region

The East Pilbara and Paterson Province in Western Australia has seen a significant increase in activity over the past 12 months which has largely been driven by Rio Tinto Ltd (ASX:RIO) increasing its’ tenement area from about 1,000 square kilometres to over 11,000 square kilometres in the region.

West Wits’ Mt Cecelia project application area is still in the granting process.

Mt Cecelia and neighbouring East Kimberley tenements

The company has recently entered the National Native Title Tribunal process to facilitate negotiations regarding the Alternative Heritage Agreements with Native Title Parties.

The process is expected to enable the project to progress, ensuring the agreement is suitable for an exploration program and benefits all parties.

WWI is undervalued relative to select ASX peers

]]>
Mon, 12 Nov 2018 16:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208977/west-wits-mining-shares-rise-after-appointment-of-new-ceo-in-south-africa-to-drive-growth-208977.html
<![CDATA[News - West Wits Mining to raise $1 million for development of South African gold project ]]> https://www.proactiveinvestors.com.au/companies/news/207800/west-wits-mining-to-raise-1-million-for-development-of-south-african-gold-project-207800.html West Wits Mining Limited (ASX:WWI) will raise up to $1 million through a share purchase plan (SPP) to accelerate the development of its Witwatersrand Basin Project (WBP), a gold asset in South Africa with over 3.6 million ounces in mineral resources.

Funds will be used to advance the Kimberley East underground target, including commissioning of scoping and pre-feasibility studies as well as further work on the K9A Reef exploration target.

West Wits will also put the cash towards completion of its mining licence application, as well as working capital once the permits have been granted.

Commitments to participate have also been received by West Wits directors and management.

 

West Wits chairman Michael Quinert said the board had decided to raise funds through an SPP to maintain the momentum achieved over the past 18 months.

“WBP is entering the next phase of development which is achievable through the sizable growth of the JORC resource and WBP’s mining licence application entering the later phase of the approval process.

“The company is seeking funds to accelerate activities that will advance the project towards full-scale mine development.

“The SPP provide an attractive investment opportunity to existing shareholders, highlighted by the company receiving commitments from directors and key management personnel to participate which will underpin the raising.”

READ: West Wits Mining progresses permits, meets September production target

The SPP will allow eligible shareholders to purchase up to $15,000 in fully paid shares without incurring brokerage and other transaction costs.

New shares will be issued at 1.2 cents representing a 14.3% discount to the 30-day volume weighted average price (VWAP) and a 10.4% discount to the 10-day VWAP.

Shareholders will be able to subscribe to five different offer parcels, ranging from $1,000 for 83,333 shares up to $15,000 for 1.25 million shares.

READ: West Wits Mining expands exploration potential of South African gold project

A quarter of funds raised will be used for developing the Kimberley East target, $200,000 will go towards WPB’s mining permits and the remainder for working capital, including the anticipated extension of open pits.

Applications for the SPP open tomorrow and are expected to close on November 22, 2018.

]]>
Wed, 24 Oct 2018 22:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207800/west-wits-mining-to-raise-1-million-for-development-of-south-african-gold-project-207800.html
<![CDATA[News - West Wits Mining progresses permits, meets September production target ]]> https://www.proactiveinvestors.com.au/companies/news/206831/west-wits-mining-progresses-permits-meets-september-production-target-206831.html West Wits Mining Ltd (ASX:WWI) continues to make progress with its mining right and mining permit applications for its Witwatersrand Basin Project in South Africa.

Key community stakeholder discussions are nearing finalisation which will complete the community engagement phase.

READ: West Wits Mining expands exploration potential of South African gold project

West Wits’ chairman Michael Quinert said: “Progress with West Wits’ Mining License applications on WBP continue to move forward at a steady pace.

“Discussions with key interested and effected parties are progressing positively towards completion, an important phase of the application process.

“Completion of Pit 1 rehab in October significantly demonstrates the company’s capability to deliver key project outcomes and benefits to local communities.

“Preliminary production results for September indicate target volume and grades have been met.”

September gold production targets met

Initial preliminary results on Kimberley Central Open Pit production for the month of September indicate production targets have been met for the month.

Over 12,000 tonnes were delivered at an estimated head grade of circa 2 g/t gold.

September’s production result will be finalised soon and will be reported with the quarterly activities report.

]]>
Thu, 11 Oct 2018 08:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206831/west-wits-mining-progresses-permits-meets-september-production-target-206831.html
<![CDATA[News - West Wits Mining expands exploration potential of South African gold project ]]> https://www.proactiveinvestors.com.au/companies/news/203933/west-wits-mining-expands-exploration-potential-of-south-african-gold-project-203933.html West Wits Mining Limited (ASX:WWI) has revealed a new exploration target of 650,000 to 1 million gold ounces for the K9A reef at the Kimberley East Project within the world’s largest goldfield in South Africa.

New exploration target for the K9A reef

Notably, the recent resource estimate for the Kimberley Reef added 428,000 ounces to West Wits’ total resource at the Witwatersrand Basin Project (WBP).

READ: West Wits Mining adds 428,000 ounces to South African gold bounty

The new resource is focused on a single conglomerate band - K9B - within the Kimberley East area reef complex which is estimated to hold 12.4 million tonnes at 3.1 g/t for 1.25 million ounces of gold at a 2.0 g/t cut-off.

 

West Wits Chairman Michael Quinert said: “The Kimberley East area offers West Wits a unique opportunity that arises from the differing mining history of the Kimberley Reef package across the area of the Mining Right Application.

“Essentially, the Kimberley reefs were extensively mined on the Western or DRD portion of our project however only limited mining of the same reefs occurred on the Eastern or Rand Lease’s portion”

Quinert added: “The recent MRE highlighted the considerable potential for the K9B reef which will form the basis of our first underground operation, importantly the K9A band is also mineralised and we are planning to commence preparing a new resource estimate for this reef.”

West Wits is now planning a works program for estimating a resource for the K9A band, another gold bearing conglomerate reef in the Kimberley East area.

READ: West Wits Mining obtains gold nuggets from field trip to Pilbara ]]>
Fri, 31 Aug 2018 11:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203933/west-wits-mining-expands-exploration-potential-of-south-african-gold-project-203933.html
<![CDATA[News - West Wits Mining obtains gold nuggets from field trip to Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/202053/west-wits-mining-obtains-gold-nuggets-from-field-trip-to-pilbara-202053.html West Wits Mining Limited (ASX:WWI) has received significant results from 73 selective rock-chip samples collected from its Tambina Project in the Pilbara, Western Australia.

Notably, the results include 50 samples with assays above 0.5 g/t gold, while 12 returned above 6 g/t gold with the highest 185 g/t gold.

West Wits observed coarse visible gold in pan concentrates for 17 of the 73 samples with the observed gold nuggets up to 3 millimetres thick.

Evaluating the prospects for trial mining operation

West Wits chairman Michael Quinert said: “Progress with exploration work on our Tambina Project continues to move forward at a steady pace, the board is pleased to see promising results from the two field trips through the extension of the mineralised outcrop and extensiveness of assay results, though the company’s efforts remain clearly focused on our high-priority Witwatersrand Basin Project.”

The next stage of work is in evaluating the prospects for trial mining operation on the conglomerates at Tambina.

This will involve an assessment of the mining equipment on site from a previous operation and assessment of mining and treatment options.

READ: West Wits Mining adds 428,000 ounces to South African gold bounty

West Wits recently added another 428,000 ounces to its gold bounty at the Witwatersrand Basin Project (WBP) in the world’s largest goldfield in South Africa.

It is worth noting that the updated resource estimate for the K9B conglomerate band within the broader Kimberley Reef has taken overall WBP resources to 3.67 million ounces of gold.

]]>
Thu, 02 Aug 2018 11:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202053/west-wits-mining-obtains-gold-nuggets-from-field-trip-to-pilbara-202053.html
<![CDATA[Media files - West Wits Mining to scale up on the back of updated estimate at Kimberley Reef ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9913/west-wits-mining-to-scale-up-on-the-back-of-updated-estimate-at-kimberley-reef-9913.html Fri, 20 Jul 2018 09:29:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9913/west-wits-mining-to-scale-up-on-the-back-of-updated-estimate-at-kimberley-reef-9913.html <![CDATA[News - West Wits Mining adds 428,000 ounces to South African gold bounty ]]> https://www.proactiveinvestors.com.au/companies/news/200805/west-wits-mining-adds-428000-ounces-to-south-african-gold-bounty-200805.html West Wits Mining Limited (ASX:WWI) has added another 428,000 ounces to its gold bounty at the Witwatersrand Basin Project (WBP) in the world’s largest goldfield in South Africa.

An updated resource estimate for the K9B conglomerate band within the broader Kimberley Reef has taken overall WBP resources to 3.67 million ounces of gold.

About 65%, or 2.4 million ounces, is within the measured and indicated categories, and further resource estimates are on the horizon.

READ: West Wits Mining transforming into a junior gold miner in South Africa

West Wits chairman Michael Quinert said: “The board is pleased to announce the continued growth of our Witwatersrand Basin Project through the solid work of our geology team.

“The board’s goal is to continue exploration work to further grow WWI’s resource and obtain the two applied for mining permits.”

The mineral resource estimate for K9B reef in the Kimberley East project.

One of several reefs

K9B is one of several gold mineralised reefs in Kimberley Reef, which forms part of the Kimberley East project.

West Wits plans for this project to be the first underground target of operations upon granting of the mining right, which is expected in the June quarter of 2019.

The estimate was updated after a data capturing and validation process that included historical underground mining data as well as surface diamond drilling completed in 2009.

It captures historical mining and surface data that has been subjected to modern estimation techniques to create domains of higher grade ‘pay shoots’ and lower grade ‘overbank’ areas.

High-grade areas to be identified

These are interpreted to result from the primary geological features of the reef and allow for the identification of large high-grade areas that will be targeted for underground production.

Global resource estimate for the Witwatersrand Basin Project.

Work will now begin on a resource estimate for K9A, another gold-bearing conglomerate reef in the Kimberley Reef package and which sits about 20-30 metres above K9B.

Previous mining of K9A and K9B shows that both ore bodies can be developed and mined simultaneously using essentially the same infrastructure.

 

Quinert said: “A solid recovery in gold production from the Kimberley Central Open Pit for May-June should underpin the necessary cash flow to continue funding project development as WWI prepares to scale up production over the balance of the year.”

Management is also focused on expediting the mining permit and mining right applications with regulatory bodies which, upon approval, will dramatically increase production.

WBP comprises two historic mining centres, Durban Roodepoort Deep (DRD) and Rand Leases, within the Witwatersrand Basin.

Strong gold heritage

Gold has been mined from these areas since 1886 with up to seven different gold-bearing conglomerate horizons mined from surface down to 3,100 metres.

Total production for the combined DRD and Rand Leases areas was in excess of 40 million ounces at grades exceeding 5 g/t gold.

Harmony Gold Mining (JSE:HAR) reported production of 86,000 ounces of gold for FY2017 at its Doornkop mine, which is directly adjacent to WBP’s western boundary.

Gold mineralisation within the WBP forms part of the Central Rand Goldfield hosted by the Witwatersrand Supergroup sediments.

This goldfield, which is south of Johannesburg, has been host to one of the most extensive gold reserves in the world and between 1897 and 2000 about 290 million ounces were extracted.

]]>
Mon, 16 Jul 2018 12:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200805/west-wits-mining-adds-428000-ounces-to-south-african-gold-bounty-200805.html
<![CDATA[Media files - West Wits Mining on its way to becoming a ‘full scale production company’ ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9338/west-wits-mining-on-its-way-to-becoming-a-full-scale-production-company-9338.html Mon, 21 May 2018 09:36:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9338/west-wits-mining-on-its-way-to-becoming-a-full-scale-production-company-9338.html <![CDATA[News - West Wits Mining transforming into a junior gold miner in South Africa ]]> https://www.proactiveinvestors.com.au/companies/news/196959/west-wits-mining-transforming-into-a-junior-gold-miner-in-south-africa-196959.html West Wits Mining Limited’s (ASX:WWI) mining rights application for the Witwatersrand Basin Project (WBP) has been accepted for processing by the South African mining regulator.

This marks the start of the company’s transformation into a junior gold miner.

A decision on approval will be made within 300 days, enabling WWI to scale-up mining operations at several sites concurrently across the WBP from the first half of 2019.

WATCH: West Wits Mining on its way to becoming a ‘full scale production company’

Chairman Michael Quinert said acceptance of the application as a valid application for processing marked the real start of WWI’s transformation.

“The timing is fortuitous as the Board notes the investment climate for foreign investors in South Africa’s mining sector has improved, with the new administration adopting a business centred strategy.

“During the intervening period, however, the team is focused on expanding the resource size to comply with the JORC 2012 code.

“The focus is also on commencing mining operations on the Main & South Central and Kimberley West open-pits once regulatory approval is granted.”

READ: West Wits Mining is an emerging conglomerate-hosted gold producer

WWI’s conglomerate gold strategy also encompasses prospects in the Pilbara region of Western Australia.

Securing mining rights in South Africa is a rigorous process as the regulator enforces tough environmental standards and requires the applicant to consult widely.

WWI has demonstrated that it has the capacity to meet its environmental obligations via rehabilitating pits 1 and 2 at the Kimberley Central open-pit.

Engaging with communities

The management team is highly proactive and engages positively with local communities and stakeholders.

Once regulatory approval is secured, it opens up options to have concurrent mining operations at several locations across the WBP, enabling the production platform to be rapidly scaled.

WWI is encouraged by President Cyril Ramaphosa’s intention to create a conducive investment climate with a business centred strategy in South Africa.

Creating a balanced mining charter acceptable to all stakeholders and that will attract significant foreign investment is broadly favourable for WWI’s forward plans.

Resource estimate upgrade

The immediate focus for WWI’s South African team is two-fold:

- Complete a mineral resource estimate update for the Kimberley Reef on the historical Rand Lease area to bring it into the current JORC framework; and,

- Prepare for mining at Main & South Central and Kimberly West open pits, once regulatory approval is secured on the two mining permits. These were submitted in April and are expected to be received in the latter half of 2018.

Rain impacts production

Production at Kimberley Central open-pit in March-April was lower than expected mainly due to extremely heavy rainfall that hampered mining and processing.

The inclement weather was compounded by a bottleneck at the processing plant which left about 4,450 tonnes of ore stockpiled at April 30.

Weather patterns have since returned to normal with production and processing targets for May on track to being achieved.

]]>
Tue, 15 May 2018 11:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196959/west-wits-mining-transforming-into-a-junior-gold-miner-in-south-africa-196959.html
<![CDATA[News - West Wits Mining discovers visible gold in all samples from the Tambina Project ]]> https://www.proactiveinvestors.com.au/companies/news/196199/west-wits-mining-discovers-visible-gold-in-all-samples-from-the-tambina-project-196199.html West Wits Mining Limited’s (ASX:WWI) second site visit to the Tambina Project in the Pilbara region has returned visible gold nuggets and in-pan concentrates.

The results highlight gold mineralisation may be more extensive than initially envisaged, warranting an expanded field trip to confirm if small-scale mining operations can re-start.

READ: West Wits Mining is an emerging conglomerate-hosted gold producer

The geology team spent several days at the Tambina project in mid-April focused on the centre and south-east sections of the tenure.

The objective of the trip was to follow up on areas that have been previously identified as highly prospective for gold mineralisation.

Ten samples (20-kilogram bags) were collected, with all returning visible gold in pan concentrates comprising particles ranging from fine to ≤ 1millimetre and occasional grain ≤ 3 millimetres.

Using a detector, nine nuggets were found in the soil nearby with the largest 3.2 grams and the remainder ≤ 1 gram.

Significance of in-pan concentrates and nuggets

With the discovery of fine gold from the in-pan concentrates and nuggets, the geology team believes there is sufficient anecdotal evidence to confirm an in-situ formation rather than one transported in.

Consequently, this means gold mineralisation could be more extensive than initially expected.

In turn, this is the first positive concrete step, albeit small, towards re-commencing small-scale mining operations at Tambina.

Assay results awaited to draw more definitive conclusions

West Wits chairman Michael Quinert said: “The notable feature from the geology team’s second field visit to the Tambina project is the discovery of gold in all twenty samples.

“While assay results are necessary to draw more definitive conclusions, the preliminary view is the gold mineralisation is likely extensive which is the first step towards potentially recommencing small-scale mining operations.”

]]>
Wed, 02 May 2018 11:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196199/west-wits-mining-discovers-visible-gold-in-all-samples-from-the-tambina-project-196199.html
<![CDATA[News - West Wits Mining is an emerging conglomerate-hosted gold producer ]]> https://www.proactiveinvestors.com.au/companies/news/194816/west-wits-mining-is-an-emerging-conglomerate-hosted-gold-producer-194816.html West Wits Mining Ltd (ASX:WWI) is targeting conglomerate-hosted gold with a focus on two regions, the Witwatersrand Basin of South Africa and Pilbara region of Western Australia.

The company has gold-producer status through its 66.6% owned Witwatersrand Basin Project (WBP) in South Africa.

Historically, the WBP produced 41 million ounces at 5 g/t and West Wits is in the process of ramping up gold mining operations.

The exploration-stage, wholly-owned Mt Cecelia and Tambina projects in the Pilbara region have WBP-style gold mineralisation.

Prolific gold mining address

The WBP comprises two historic mining centres known as the Durban Roodepoort Deep and the Rand leases.

The leases are on the northern edge of the Witwatersrand Basin in the Central Rand Goldfield immediately southwest of Johannesburg.

Mining has been taking place within these areas since the discovery of the goldfields in 1886.

During that time up to seven different gold-bearing conglomerate horizons have been mined from surface down to a depth of 3,100 metres.

Historical resource was 12.82 million ounces

The previous owners of the WBP leases had a historical mineral resource of 87.9 million tonnes grading 4.6 g/t for 12.82 million tonnes of gold.

This resource was defined with the JORC Code 1997 and is not compliant with the JORC Code 2012.

However, this resource has been used to derive a JORC 2012 compliant resource which stands at 29.6 million tonnes grading 3.4 g/t gold for 3.26 million ounces.

This resource only includes ounces to a 1,500-metre depth from surface and does not include deep underground material.

Gold production at Kimberley Central Open Pit

Open pit mining commenced at the Kimberley Central open pit in June 2017.

During the month of December 2017, 1,020 ounces of gold were produced at a cash cost of about US$800 per ounce.

After the split with joint venture partner this resulted in net cash proceeds of $400,000.

At January 2018, the current resource at the Kimberley Central open pit was sufficient to sustain production for another 10-12 months.

That said, 17 targets have been identified for both open-pit and underground development.

Building towards 100,000 ounces per annum

During April 2018, West Wits submitted two mining permit applications to enable a substantial increase in gold production.

The company expects that withstanding delays, this will facilitate a material increase in ore production within the next 4 to 6 months.

However, the main focus remains achieving acceptance of the lodged mining rights application over the entire tenement area.

Securing full mining rights is critical for achieving full production by 2021-22, as several open pit and underground operations can be run concurrently.

The next production opportunities at WBP are the Main and South Central Open Pit, and the Main and South East Open Pit.

Pilbara conglomerate-hosted gold rush

During 2017, Australia experienced a 21st-century gold rush after multiple conglomerate-hosted gold discoveries were made in the Pilbara region.

In October 2017, West Wits acquired the Mt Cecelia project, known to host Hardy Formation rock groups, part of the Lower Fortescue Group.

Two of the high profile Novo Resources’ (TSX-V:NVO) key projects are both the Lower Fortescue Group, which is the same system within Mt Cecelia’s project area.

Mt Cecelia’s geology is consistent with the Witwatersrand-style conglomerate gold mineralisation found in South Africa.

This put the company in a unique position to be able to leverage its geology team’s hands-on experience in the Witwatersrand Basin to expedite understanding the Mt Cecelia project area.

Tambina Project already has three granted mining leases

In January 2018, West Wits completed the acquisition of its second Pilbara project, Tambina.

The project’s key point of difference is the project’s three granted mining leases, which fast-tracks the commencement of any identified opportunity for mining operations materially faster than many peers.

The acquisition included a substantial exploration database including drilling, geophysics and sampling data.

READ: West Wits Mining eyes conglomerate hosted gold targets in the Pilbara

In March 2018, West Wits commenced preparations for their inaugural field trip to confirm the location of conglomerate hosted gold targets.

The intention is to re-commence small-scale mining operations as soon as feasible.

]]>
Thu, 12 Apr 2018 15:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194816/west-wits-mining-is-an-emerging-conglomerate-hosted-gold-producer-194816.html
<![CDATA[News - West Wits Mining submits two mining permits, on track for gold production increase ]]> https://www.proactiveinvestors.com.au/companies/news/194807/west-wits-mining-submits-two-mining-permits-on-track-for-gold-production-increase-194807.html West Wits Mining Ltd (ASX:WWI) has submitted two mining permit applications to enable a substantial increase in gold production from its Witwatersrand Basin Project (WBP) in South Africa.

The permit applications each cover five-hectare open pit operations with high-grade targets.

The company expects that withstanding delays, this will facilitate a material increase in ore production within the next 4 to 6 months.

WBP remains cash flow positive

West Wits’ chairman Michael Quinert said: “WWI’s strategic transformation is now well underway and, providing the South African regulator approves both WBP mining permits in a timely manner, the board expects a material increase in production and net cash flow towards year end.

“However, the board’s core goal remains securing mining rights over the entire WBP tenement in the first half of 2019 and ramping up production.

“The WBP remains cash flow positive and on a self-sustaining foothold.”

Securing full mining rights is on track

The main focus remains on achieving acceptance of lodgement for the mining rights application over the entire tenement area by the April 2018 deadline, which is on track.

Securing full mining rights is critical for achieving full production by 2021-22, as several open pit and underground operations can be run concurrently.

As the regulatory approval process could take up to 12-months, this provides the geology team ample time to focus on further proving up the resource to be JORC-compliant.

READ: West Wits Mining chairman increases shareholding ahead of Tambina gold exploration

West Wits targets conglomerate-hosted gold and is focused on two premier regions, the Witwatersrand Basin of South Africa and Pilbara region of Western Australia.

The WBP is within a world-leading goldfield and hosts a 3.26 million ounce deposit from which it is producing gold.

During December, the company produced 1,020 ounces at a cash cost of around US$800 per ounce from the Kimberley open pit.

]]>
Thu, 12 Apr 2018 11:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194807/west-wits-mining-submits-two-mining-permits-on-track-for-gold-production-increase-194807.html
<![CDATA[News - West Wits Mining chairman increases shareholding ahead of Tambina gold exploration ]]> https://www.proactiveinvestors.com.au/companies/news/194292/west-wits-mining-chairman-increases-shareholding-ahead-of-tambina-gold-exploration-194292.html West Wits Mining Limited’s (ASX:WWI) executive chairman Michael Quinert has increased his shareholding in the company with an on-market purchase of about 230,000 shares.

This brings his holding to nearly 19 million ordinary shares and 12 million options.

The company’s shares increased by about 25% in March following a new board appointment and news that the company was ready to start work at the Tambina Gold Project.

Tambina a potential share price catalyst

West Wits is reviewing plans to recommence small-scale mining operations at the Tambina project in Western Australia.

The company is attracted to conglomerate gold mineralisation in the region.

Use of existing data

Utilising significant legacy data, the geology team is due to commence its inaugural field trip to confirm the location of conglomerate hosted gold targets.

This could potentially result in Tambina contributing modest cashflow towards the end of this year.

On this note, Quinert said: “The board has decided to take an opportunistic approach to the Tambina asset and is actively reviewing plans to recommence small-scale mining operations.” 

]]>
Thu, 05 Apr 2018 13:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194292/west-wits-mining-chairman-increases-shareholding-ahead-of-tambina-gold-exploration-194292.html
<![CDATA[News - West Wits Mining director doubles his stake as Tambina activity ramps up ]]> https://www.proactiveinvestors.com.au/companies/news/193978/west-wits-mining-director-doubles-his-stake-as-tambina-activity-ramps-up-193978.html West Wits Mining Limited’s (ASX:WWI) exploration director Andrew Tunks has nearly doubled his stake in the company with the purchase of 475,000 shares.

Given his position at the pointy end of operations, Tunks' decision is a strong endorsement of the company’s exploration prospects as it targets projects in Australia and South Africa. 

READ: West Wits Mining eyes conglomerate hosted gold targets in the Pilbara

Management said on Wednesday that it was considering recommencing small-scale mining operations at the Tambina Gold Project in Western Australia later in the year.

The forerunner to this would be the identification of suitable conglomerate hosted gold targets, an initiative that Tunks would be heavily involved in.

Utilisation of legacy data

With remaining leases and substantial historical geological data, taking a two-pronged approach at Tambina makes sense.

Management indicated that if it were to progress along the lines of developing a small-scale production project, Tambina could contribute modest cash flow towards the end of 2018.

]]>
Thu, 29 Mar 2018 08:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193978/west-wits-mining-director-doubles-his-stake-as-tambina-activity-ramps-up-193978.html
<![CDATA[News - West Wits Mining eyes conglomerate hosted gold targets in the Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/193926/west-wits-mining-eyes-conglomerate-hosted-gold-targets-in-the-pilbara-193926.html West Wits Mining Limited (ASX:WWI) is aiming to identify conglomerate-hosted gold targets at its Tambina project in Western Australia, to test whether small-scale mining operations can recommence.

Utilising significant legacy data made available from the vendors, the geology team are due to commence their inaugural field trip to confirm the location of conglomerate hosted gold targets.

This could potentially result in Tambina contributing modest cashflow towards year end.

West Wits chairman Michael Quinert said: “The board has decided to take an opportunistic approach to the Tambina asset and is now actively reviewing plans to recommence small-scale mining operations there, post an upcoming site visit by the geology team to identify conglomerate hosted gold targets”

Gold producer with operations in two conglomerate-hosted gold regions

West Wits is a gold producer with operations in two regions that have conglomerate-hosted gold - Pilbara in Australia and Witwatersrand in South Africa.

The company’s Witwatersrand Basin project (WBP) remains on a self-sustaining trajectory, achieving bi-monthly targets of ore production and net cashflow for the Jan-Feb period.

Quinert added: “Having moved to a bi-monthly reporting structure, the board is pleased to confirm that WBP remains cashflow positive and on a self-sustaining foothold, with cashflow at the upper end of the target range.”

READ: West Wits Mining eyes increased gold production in South Africa

The company is applying for two mining permits to enable a substantial increase in gold production from the WBP.

The recent swearing in of successful mining entrepreneur Cyril Ramaphosa to the presidency points to a favourable turnaround in South Africa’s economic and political environment.

]]>
Wed, 28 Mar 2018 15:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193926/west-wits-mining-eyes-conglomerate-hosted-gold-targets-in-the-pilbara-193926.html
<![CDATA[News - West Wits Mining adds expert exploration consultant to board ]]> https://www.proactiveinvestors.com.au/companies/news/193032/west-wits-mining-adds-expert-exploration-consultant-to-board-193032.html West Wits Mining Ltd (ASX:WWI) has promoted its expert exploration consultant, Dr Andrew Tunks, to sit on the company’s board as an executive director.

Dr Tunks will be in charge of the group’s exploration activities in the Witwatersrand Basin of South Africa and Pilbara region of Western Australia.

READ: West Wits Mining eyes increased gold production in South Africa

The company is producing gold from its Witwatersrand Basin Project (WBP) where it has a 3.26 million ounce gold resource.

West Wits continues to fast-track the application for the full-scale mining right across the WBP and plans to submit the paperwork to the government in April.

It is also exploring its Mt Cecelia and Tambina projects prospective for conglomerate-hosted gold in the Pilbara region.

Dr Tunks has been heavily involved with West Wits

For the past five years, Dr Tunks has been the company’s expert exploration consultant overseeing the material expansion in the WBP’s JORC resource.

His experience developing WBP will undoubtedly be useful in the exploration and potential development of the company's Pilbara projects.

Michael Quinert, chairman, said: “With West Wits undergoing a strategic transformation to position itself as a mid-tier gold producer with operations in the Witwatersrand Basin and Pilbara, we need high calibre experienced talent to successfully implement the board’s agenda.

“To this end, Dr Tunks brings a wealth of relevant gold exploration and emerging market experience that West Wits can leverage and utilise.”

]]>
Tue, 13 Mar 2018 12:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193032/west-wits-mining-adds-expert-exploration-consultant-to-board-193032.html
<![CDATA[News - West Wits Mining eyes increased gold production in South Africa ]]> https://www.proactiveinvestors.com.au/companies/news/191811/west-wits-mining-eyes-increased-gold-production-in-south-africa-191811.html West Wits Mining Limited (ASX:WWI) is in the process of applying for two mining permits to enable a substantial increase in gold production from its Witwatersrand Basin Project (WBP) in South Africa.

This positive news flow comes at a time when the Rand is strengthening due to improving conditions in South Africa’s political and economic environment.

READ: West Wits Mining board of directors put more skin in the game

Michael Quinert, chairman, said: “The board’s main task for the South African business in 2018 remains clearly focused on fast-tracking the application and approval for full mining rights for the Witwatersrand Basin Project, with submission scheduled for April.

“Upon regulatory approval, this will likely create significant incremental value for shareholders, as it would enable production to be ramped up materially.”

Small scale open pit operations ahead of full scale mining rights

West Wits’ consultants have advised that South African mining laws will allow the company to apply for two mining permits which will enable small scale open pit operations within five hectares.

Target area for new mining permits

This is positive for West Wits as with the depletion of WBP Kimberley Central Open Pit due within 10-12 months, it is important to ensure continuity and preferably, grow ore production and cashflow.

READ: West Wits Mining ramping up cashflow positive gold project in South Africa

The mining permit applications are scheduled to be lodged in March and granted by September, allowing ore production to materially increase during 4Q 2018.

Mining rights application planned in April

West Wits is continuing to fast-track the application for the full-scale mining right across the WBP and is targeting to submit the paperwork to the government in April.

Upon approval, expected within 12-months, the prospective gold production from WBP can be scaled up significantly.

The swearing in of successful mining entrepreneur Cyril Ramaphosa to the presidency points to a favourable turnaround in South Africa’s economic and political environment.

READ: West Wits Mining completes acquisition of conglomerate gold project in the Pilbara ]]>
Mon, 19 Feb 2018 13:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191811/west-wits-mining-eyes-increased-gold-production-in-south-africa-191811.html
<![CDATA[News - West Wits Mining board of directors put more skin in the game ]]> https://www.proactiveinvestors.com.au/companies/news/191034/west-wits-mining-board-of-directors-put-more-skin-in-the-game-191034.html West Wits Mining Limited (ASX:WWI) has issued shares and options to three of its four board members.

Michael Quinert, chairman, and non-executive directors Vincent Savage and Hulme Scholes paid a total of $125,000 for their new stock.

Notably, the share purchases increased Quinert's total holding to 18.7 million shares and Savage's holding to 14.1 million shares.

Unlisted options also issued

Quinert was also issued 12 million unlisted options and Savage was issued 5 million unlisted options.

READ: West Wits Mining completes acquisition of conglomerate gold project in the Pilbara

West Wits Mining is advancing its conglomerate gold exploration and production strategy encompassing projects in South Africa and Western Australia.

It has recently completed the acquisition of three mining leases within the Tambina conglomerate hosted gold project in the Pilbara region of Western Australia.

READ: West Wits Mining ramping up cashflow positive gold project in South Africa

In South Africa, West Wits is planning to secure mining rights across the whole Witwatersrand Basin Project to substantially scale up gold production of circa 1,000 ounces per month.

]]>
Fri, 02 Feb 2018 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191034/west-wits-mining-board-of-directors-put-more-skin-in-the-game-191034.html
<![CDATA[News - West Wits Mining completes acquisition of conglomerate gold project in the Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/190789/west-wits-mining-completes-acquisition-of-conglomerate-gold-project-in-the-pilbara-190789.html West Wits Mining Limited (ASX:WWI) has completed the acquisition of three mining leases within the Tambina conglomerate hosted gold project in the Pilbara region of Western Australia.

Michael Quinert, chairman, said: “Our newly acquired Tambina conglomerate hosted gold project in the Pilbara provides the potential opportunity for West Wits to expedite exploration and any possible production, as three mining leases have already been granted.

“West Wits is now well placed to deliver on its vision to become a mid-tier gold producer with operations in the world’s premier conglomerate hosted gold regions.”

Key advantage over peers

The key point of difference with the Tambina project is the three granted mining leases as it fast-tracks the commencement of any identified opportunity for mining operations materially faster than many peers.

With the substantial data passed across from the vendors, which includes legacy information from prior owners, the geology team has been able to gain a considerable head-start.

In turn, this has resulted in substantial man-hour and costs savings (circa $500,000) to replicate the data.

Promising results from exploration

Exploration results indicate recent gold discoveries in the Pilbara may be hosted in immature conglomerates that sit stratigraphically below basaltic units within the Lower Fortescue Group.

Goldstream Mining had completed 22 trenches within Tambina, with results including 15 metres at 1.45 g/t gold, 5 metres at 2.27 g/t gold and 15 metres at 2.66 g/t gold.

Based on this and other legacy information, West Wits now has a clear base line.

Notably, it can sample the key target conglomerates and, in turn, identify the key places to conduct bulk sampling protocols, complete the recovery testwork, and follow up metallurgical studies in Perth.

Next steps

Moving forward, the geology team intends to commence field-work at the Tambina project once the wet season concludes (March-April).

The initial focus will be on several gold-in-soil anomalies located in the southern half of the leases, but this will migrate to encompass other areas within the tenure too.

READ: West Wits Mining ramping up cashflow positive gold project in South Africa

Meanwhile, West Wits is planning to secure mining rights across the whole Witwatersrand Basin Project in South Africa to substantially scale up the current gold production of circa 1,000 ounces per month.

]]>
Tue, 30 Jan 2018 11:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190789/west-wits-mining-completes-acquisition-of-conglomerate-gold-project-in-the-pilbara-190789.html
<![CDATA[News - West Wits Mining ramping up cashflow positive gold project in South Africa ]]> https://www.proactiveinvestors.com.au/companies/news/190428/west-wits-mining-ramping-up-cashflow-positive-gold-project-in-south-africa-190428.html West Wits Mining Limited (ASX:WWI) is planning to secure mining rights across the whole Witwatersrand Basin project (WBP) in South Africa to substantially scale up gold production.

READ: West Wits Mining continues to increase gold production in South Africa

With W1 open pit set to deplete within the next 12-15 months, the company is progressing to secure a mining permit for another open pit project (W2) for small scale mining.

Expanding JORC compliant gold resource

Having recently increased the JORC compliant gold resource to 3.26 million ounces of gold (from 1.88 million ounces), the company can carry out a moderate sized mining operation, though further studies are required.

However, given it is clear there is significantly more gold mineralisation within WBP, West Wits is working towards expanding the existing resource.

It is worth noting that the historic resource was 12.8 million ounces of gold under the JORC 1999 code.

Progressing work on mining rights

West Wits is accelerating work towards securing mining rights for the whole WBP in 2018, as this will enable the operation to be substantially scaled beyond the current 1,000 ounces per month (from W1).

However, this is a complex process that requires input from multiple stakeholders and compliance with South Africa’s relatively strict environmental laws – the timeline could extend into 2019.

High-grade ore production at W1 for December 2017 continued to achieve the 10,000-to-15,000 tonnes target range. A total of 1,020 ounces of gold was produced in December.

Rehabilitation work is now commencing at pit one and will progress across all five pits within W1 as the resource is depleted.

]]>
Tue, 23 Jan 2018 12:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190428/west-wits-mining-ramping-up-cashflow-positive-gold-project-in-south-africa-190428.html
<![CDATA[News - West Wits Mining's shares halted pending boost to metal inventory ]]> https://www.proactiveinvestors.com.au/companies/news/188848/west-wits-mining-s-shares-halted-pending-boost-to-metal-inventory-188848.html West Wits Mining Ltd (ASX:WWI) has a mineral resource upgrade on the table, and the ASX has granted the company a trading halt to prepare the final details.

West Wits has assets in South Africa, and recently added interests in the Pilbara region of Western Australia which has the potential to host conglomerate gold.

The halt will remain in place until the opening of trade on Tuesday 19th December 2017, or earlier if an announcement is made to the market.

]]>
Fri, 15 Dec 2017 13:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188848/west-wits-mining-s-shares-halted-pending-boost-to-metal-inventory-188848.html
<![CDATA[News - West Wits Mining continues to increase gold production in South Africa ]]> https://www.proactiveinvestors.com.au/companies/news/188411/west-wits-mining-continues-to-increase-gold-production-in-south-africa-188411.html West Wits Mining Limited (ASX:WWI) has achieved record monthly gold production in November by mining 14,725 tonnes and 3,760 tonnes of high and medium grade ore respectively at its Witwatersrand Basin Project in South Africa.

Significantly, the operation is now achieving a critical production mass, and scale economies are resulting in a moderation in costs from circa US$1,000 per ounce to less than US$800 per ounce.

More importantly, as a result of selling 1,023 ounces of gold in November, the operations are now on a self-sustaining footing, generating net cashflow towards the higher-end of the $200,000-250,000 range.

This will enable West Wits to fund the expansion of its current JORC 2012 gold resource, explore new open cut mining opportunities within the project area and work on securing mining rights.

West Wits recently renamed its operations in South Africa the Witwatersrand Basin Project (WBP), given its prime location within the Witwatersrand Basin.

The Witwatersrand Basin is considered the world’s premier conglomerate gold producing region.

Since gold mining commenced at WBP more than a century ago, some 30 million ounces of gold were extracted from the circa 50 square kilometre project area, before the previous owner ended operations in 2000.

West Wits is aiming to materially increase the current JORC resource of 1.38 million ounces of gold with the completion of the engineering study focused on an unmined area in the east of the project area.

Interestingly, even without extending the current resource, there is sufficient ore within the Witwatersrand One prospect to sustain current production at 12-15,000 tonnes per month for 12-14 months.

]]>
Thu, 07 Dec 2017 15:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188411/west-wits-mining-continues-to-increase-gold-production-in-south-africa-188411.html
<![CDATA[News - West Wits Mining acquiring producing Pilbara conglomerate gold asset ]]> https://www.proactiveinvestors.com.au/companies/news/187577/west-wits-mining-acquiring-producing-pilbara-conglomerate-gold-asset-187577.html West Wits Mining Limited (ASX:WWI) is acquiring three Pilbara conglomerate gold mining leases (Tambina Project), along with a small-scale mining operation currently in place.

Importantly, this geological setting is similar to Novo Resources Corp’s (CVE:NVO) Purdy’s Reward conglomerate gold project in West Pilbara and West Wits’ Mt Cecelia project area.

Last month, the company had pounced on one of the few remaining project areas in the eastern Pilbara (Mt Cecelia) that is prospective for conglomerate gold mineralisation.

READ NEXT: West Wits Mining pounces on one of the latest areas prospective for Pilbara Conglomerate Gold

West Wits will aim to expand operations at the Tambina Project as the acquisition is on three mining leases which are already producing via small scale mining.

With mining operations already producing cash flows, West Wits will be positioned ahead of numerous peers in the Pilbara which are still at the exploration phase.

The Tambina Project has the potential to host a palaeo-placer gold deposit associated with the pyritic conglomerates that are part of the Lower Fortescue Group.

West Wits is aiming to move quickly to undertake further work with a view to delineate a resource and scale up mining operations at the Tambina project.

To expedite this objective, the next phase is further detailed geological work to locate the highest grade areas within the project.

This will initially involve reviewing all past work and then conducting a ground geophysical survey to locate the areas of greatest pyrite concentrations.

]]>
Tue, 21 Nov 2017 22:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187577/west-wits-mining-acquiring-producing-pilbara-conglomerate-gold-asset-187577.html
<![CDATA[News - West Wits Mining has next steps for Pilbara gold ]]> https://www.proactiveinvestors.com.au/companies/news/187399/west-wits-mining-has-next-steps-for-pilbara-gold-187399.html West Wits Mining Ltd (ASX:WWI) has been making a highly anticipated move into the Pilbara region of Western Australia, and the ASX has granted the company a trading halt to finalise the next steps.

West Wits will provide details of the potential acquisition of three gold mining leases, while also making a subsequent capital raising.

The halt will remain in place until the opening of trade on Tuesday 21st November 2017, or earlier if an announcement is made to the market.

]]>
Fri, 17 Nov 2017 09:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187399/west-wits-mining-has-next-steps-for-pilbara-gold-187399.html
<![CDATA[News - West Wits Mining pounces on one of the latest areas prospective for Pilbara Conglomerate Gold ]]> https://www.proactiveinvestors.com.au/companies/news/186144/west-wits-mining-pounces-on-one-of-the-latest-areas-prospective-for-pilbara-conglomerate-gold-186144.html West Wits Mining Ltd's (ASX:WWI) shares are expected to open stronger this morning following the company pouncing on one of the few remaining project areas in the eastern Pilbara that is prospective for conglomerate gold mineralisation.

West Wits will acquire Northern Reserves Pty Ltd (NRPL) through a scrip based deal.

A significant area within the NRPL application area, known as Mt Cecelia, comprises the Hardy Formation and part of the Lower Fortescue Group.

Two of the high profile Novo Resources’ (TSX-V:NVO) key projects are both the Lower Fortescue Group, which is the same system within Mt Cecelia’s project area.

Mt Cecelia’s geology is consistent with the Witwatersrand-style conglomerate gold mineralisation found in South Africa, where West Wits has the highly complementary Soweto Cluster gold project.

The company is now in a unique position among peers to be able to leverage its geology team’s hands-on experience in the Witwatersrand Basin to expedite understanding the Mt Cecelia project area.

To advance the next steps, West Wits will conduct a capital of up to $1.75 million at $0.017 through a placement and share purchase plan.

Consideration

West Wits will:

- Issue 3,000,000 West Wits shares immediately;
- Issue 52,000,000 West Wits shares on completion;
- Grant 10,000,000 3-year West Wits options with a $0.05 exercise price;
- Issue 10,000,000 West Wits shares and payment of $75,000 upon grant of the licence application;
- Issue up to 35,000,000 West Wits shares upon commencement of a reverse circulation-percussion drilling program within the area comprised in the license application; and
- Pay an aggregate net smelter royalty of 1% of net revenue from production within the licence application.

]]>
Wed, 25 Oct 2017 09:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186144/west-wits-mining-pounces-on-one-of-the-latest-areas-prospective-for-pilbara-conglomerate-gold-186144.html
<![CDATA[News - West Wits Mining to join hunt for Pilbara gold ]]> https://www.proactiveinvestors.com.au/companies/news/185982/west-wits-mining-to-join-hunt-for-pilbara-gold-185982.html West Wits Mining Ltd (ASX:WWI) is joining Australia's latest gold rush in the Pilbara region of Western Australia.

The recent discovery of gold nuggets in Hardey Formation conglomerates by the Artemis Resources Ltd (ASX:ARV) / Novo Resources joint venture at Purdy’s Reward has highlighted the potential for sediment hosted Witwatersrand style mineralisation in the area.

West Wits has this morning been granted a trading halt by the ASX, pending details of a proposed acquisition of a tenement application in the Pilbara, along with a subsequent capital raising.

The halt will remain in place until the opening of trade on Wednesday 25th October 2017, or earlier if an announcement is made to the market.

]]>
Mon, 23 Oct 2017 11:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185982/west-wits-mining-to-join-hunt-for-pilbara-gold-185982.html
<![CDATA[News - West Wits Mining continues to ramp up South African gold operations ]]> https://www.proactiveinvestors.com.au/companies/news/171573/west-wits-mining-continues-to-ramp-up-south-african-gold-operations-171573.html The company’s shares are up 11.1% intra-day, currently trading at $0.03.

In December, 9,000 tonnes were extracted as the ramp in production continues to a targeted production of 12,000 tonnes per month by the end of calendar Q1 2017.

The company is aiming for a production rate of 15,000 tonnes per month eventually.

The head grade from the pit is continuing in line with expectations at circa 2 g/t gold.

West Wits is assessing the possibility of expanding the two pits that are currently being mined.

Additionally, planning work is also being undertaken to substantially increase the size of the project, with the addition of three further pits along strike.

Various scenarios for optimising the project’s potential are being reviewed by West Wits’ consultants with the head contractor.

Further meetings to finalise the mine plan and the definitive agreements are planned to commence in the first week of February with an agreement to be finalised by the end February.

The company has received $170,000 for the period of operations from commencement in August up until end November 2016, which saw some 14,000 tonnes of ore processed.

West Wits is expected to provide further updates for the Sol Plaatje Project as production continues to increase, expanded mine plans are finalised and agreements executed.

]]>
Fri, 13 Jan 2017 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171573/west-wits-mining-continues-to-ramp-up-south-african-gold-operations-171573.html
<![CDATA[News - West Wits Mining to start generating revenue from Soweto gold cluster ]]> https://www.proactiveinvestors.com.au/companies/news/168112/west-wits-mining-to-start-generating-revenue-from-soweto-gold-cluster-168112.html Under agreement with a mining contractor, West Wits will be paid a price equal to 0.6 grams of gold (circa US$25) for each tonne of ore mined.

Allowing for recoupment of start-up costs, the company is expected to receive payments for the ore in the next 3-4 weeks.

West Wits is anticipating to mine 6,000 tonnes of ore in November.

Thereafter, the mining contractor projects a steady rise of ore tonnage to about 14-15,000 tonnes per month.

130,000 tonnes of ore is scheduled for extraction in Stage 1 at the Sol Plaatje over 12 months followed by a 50,000 tonnes schedule in Stage 2 over 6 months.

Further to the per-tonne payment, there is also a potential upside through a 50:50 profit share after costs and priority payments.

The proceeds from mining at the Sol Plaatje will allow West Wits to expedite its exploration and development plans for further on surface and near surface projects within the Soweto Cluster.

The Soweto Cluster has total resources of 12.7 million tonnes, containing 1.374 million tonnes of gold grading 3.38 g/t gold.

Notably, head grades delivered to the mill to date have been in line with expectations at circa 2 g/t gold, with processing recoveries exceeding the projected 85%.

West Wits’ share price has increased 72% during the past 6 months, last trading $0.031.

]]>
Thu, 27 Oct 2016 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168112/west-wits-mining-to-start-generating-revenue-from-soweto-gold-cluster-168112.html
<![CDATA[News - West Wits Mining Ltd passes milestone on monetising gold project ]]> https://www.proactiveinvestors.com.au/companies/news/165288/west-wits-mining-ltd-passes-milestone-on-monetising-gold-project-70390.html West Wits Mining Ltd (ASX:WWI) has crossed an important milestone by commencing mining at the Sol Plaatjies Project,  within the Soweto Project in Johannesburg, South Africa.

First stage plans at Sol Plaatjies provide for extraction of up to 130,000 tonnes of ore over 12 months with a further 50,000 tonnes identified in the second stage.

The total JORC 2012 resource at the Soweto Project is 1.32 million ounces of gold at 3.36 g/t gold (2.0 g/t gold cut-off).

The work at Sol Plaatjies will involve the removal, rehabilitation and processing of a 1,500 metre section of the Kimberley Reef outcrop.

The presence of the reef had, in the past, attracted activity from illegal miners, which in turn led to significant social challenges in the area.

Under the terms of an agreement with a mining contractor, proceeds from the project will be first paid to the contractor for the cost of extracting and processing each tonne of ore.

After these costs have been reimbursed, West Wits will be paid at a rate equal to the prevailing price of 0.6 grams of gold (currently circa US$25) for each tonne of ore mined from the project.

After West Wits has been paid, the contractor will be entitled to a payment equal to the value of 0.4 grams of gold for each tonne with any additional surplus cash to be then shared equally between West Wits and the contractor.

Following extraction of the reef, the land would be progressively rehabilitated to enable the land owner to start development of an affordable housing project.

Sol Plaatjies is expected to provide cash flows to West Wits to expedite the company’s development plans for the larger Soweto Cluster area.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Thu, 11 Aug 2016 15:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165288/west-wits-mining-ltd-passes-milestone-on-monetising-gold-project-70390.html
<![CDATA[News - West Wits Mining Ltd among ASX % Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/165287/west-wits-mining-ltd-among-asx-gainers-intra-day-70381.html Thursday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume West Wits Mining Ltd WWI $0.049 36.11% 1,370,737 Key Petroleum Ltd KEY $0.004 33.33% 1,481,812 Manas Resources Ltd MSR $0.004 33.33% 145,375,633 Legend Mining Ltd LEG $0.012 33.33% 13,526,600 Dark Horse Resources Ltd DHR $0.009 28.57% 2,849,360 Segue Resources Ltd SEG $0.005 25% 507,468 Argonaut Resources NL ARE $0.017 21.43% 19,955,676 Haranga Resources Ltd HAR $0.006 20% 70,000 Novogen Ltd NRT $0.110 19.57% 3,081,523 Resource Development Group Ltd RDG $0.025 19.05% 443,010

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Thu, 11 Aug 2016 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165287/west-wits-mining-ltd-among-asx-gainers-intra-day-70381.html
<![CDATA[News - West Wits Mining to reveal capital raising details ]]> https://www.proactiveinvestors.com.au/companies/news/158456/west-wits-mining-to-reveal-capital-raising-details-64534.html West Wits Mining (ASX:WWI) has gold interests in Indonesia and South Africa, and the now the company is heading to market to increase its cash position.

The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Thursday 17th September 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 15 Sep 2015 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158456/west-wits-mining-to-reveal-capital-raising-details-64534.html
<![CDATA[News - West Wits Mining, Triton Minerals among ASX % Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/158455/west-wits-mining-triton-minerals-among-asx-gainers-intra-day-61562.html Wednesday’s leading ASX % Gainers intra-day.

NameCodeLastChangeVolume Thomas Services ASX:THO $0.011 83.3% 89,087 Triton Minerals ASX:TON $0.56 67.2% 55,075,439 West Wits Mining ASX:WWI $0.011 57.1% 200,000 Paradigm Metals ASX:PDM $0.003 50% 6,944,000 Lakes Oil ASX:LKO $0.003 50% 306,667 Continental Coal ASX:CCC $0.003 50% 5,883,057 Northern Mining ASX:NMI $0.027 42.1% 546,818 Rampart Energy ASX:RTD $0.004 33.3% 250,000 Delecta Limited ASX:DLC $0.004 33.3% 1,000,000 Ausenco Limited ASX:AAX $0.29 28.9% 400,292

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 01 Apr 2015 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158455/west-wits-mining-triton-minerals-among-asx-gainers-intra-day-61562.html
<![CDATA[News - West Wits Mining to start trial mining at Indonesian gold project ]]> https://www.proactiveinvestors.com.au/companies/news/158454/west-wits-mining-to-start-trial-mining-at-indonesian-gold-project-49075.html West Wits Mining (ASX: WWI) is now focusing on trial mining its Derewo River Gold Project in Indonesia’s Papua Province after completing an airstrip.

The company will carry out the trial mining using a conventional alluvial recovery circuit prior to receiving the concentrator on order from Malaysia.

This recovery circuit is being broken down into sections and weighed for transport with the boxes being flown in by helicopter from tomorrow.

The excavator used for the airstrip will install a number of culverts on the access road to further improve its drainage on its way to the mine site.

West Wits noted that final works such as installation of wind socks as well minor widening of one section of the airstrip is being carried out and that it would be capable of receiving aircraft later this week.

The Derewo project, located the Papua province of Indonesia, is a high grade placer deposit, that shows early stage similarities with discoveries on the PNG side of New Guinea including Porgera, Edie Creek, and Wau.

It is also located 110 kilometres north west of Freeport McMoRan's Grasberg complex.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 14 Oct 2013 16:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158454/west-wits-mining-to-start-trial-mining-at-indonesian-gold-project-49075.html
<![CDATA[News - West Wits Mining edges close to cash flows with infrastructure at Indonesian gold project ]]> https://www.proactiveinvestors.com.au/companies/news/158453/west-wits-mining-edges-close-to-cash-flows-with-infrastructure-at-indonesian-gold-project-46303.html West Wits Mining (ASX:WWI) has started construction of an airstrip, a key piece of infrastructure, to progress its Derewo River gold project in Indonesia.

A concentrator will also be procured from Malaysia as part of West Wits' plan to develop a small scale gravity recovery circuit for trial mining. Completing the airstrip is key as the concentrator will be flown into the project site in modular sections and then reassembled.

This circuit will allow the company to generate some cash flow but will also provide valuable data regarding the processing of the alluvial gravels for the main hydraulic alluvial circuit.

The Derewo project, located the Papua province of Indonesia, is a high grade placer deposit, that shows early stage similarities with discoveries on the PNG side of New Guinea including Porgera, Edie Creek, and Wau.

It is also located approximately 110 kilometres north west of Freeport McMoRan's Grasberg complex.

Following the completion of a new road, access has been gained to the site of the proposed airstrip. Construction of the airstrip should be completed over the next 4-5 weeks.

Once the airstrip is completed, development of water infrastructure and storage facilities for the hydraulic alluvial circuit will begin.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 02 Aug 2013 15:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158453/west-wits-mining-edges-close-to-cash-flows-with-infrastructure-at-indonesian-gold-project-46303.html
<![CDATA[News - West Wits Mining to acquire Indonesian gold project, launches capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/158452/west-wits-mining-to-acquire-indonesian-gold-project-launches-capital-raising-13644.html West Wits Mining (ASX: WWI) has signed an agreement to acquire the Derewo River Gold project, located in Indonesia, from Paniai Gold.

Consideration for the deal is all scrip and includes; 80 million shares, 46 million performance shares subject to Derewo producing 20,000 ounces of gold within 2 years and 12.5 million options exercisible at $0.08 within 5 years.

Derewo consists of mining rights and exploration registered applications over 129,000 hectares centred on the Derewo River.

The project includes; a 50% interest in existing alluvial mining projects, and a 50% interest in exploration registered applications, (with the right to increase to 80%), to target the source of the Derewo River alluvials.

To provide funding for exploration at the new project, West Wits has launched a capital raising.

A share placement will raise up to A$3 million, pending shareholder approval, with a SPP to potentially raise an additional $500,000.

 

]]>
Thu, 03 Feb 2011 11:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158452/west-wits-mining-to-acquire-indonesian-gold-project-launches-capital-raising-13644.html
<![CDATA[News - West Wits Mining in trading halt pending capital raising and acquisition announcement ]]> https://www.proactiveinvestors.com.au/companies/news/158451/west-wits-mining-in-trading-halt-pending-capital-raising-and-acquisition-announcement-13563.html West Wits Mining (ASX: WWI) has requested a trading halt pending release of an announcement about a capital raising and acquisition.

The halt will last until an announcement is made or commencement of trading on Thursday 3rd February 2011.

In November West Wits had some positive finds at Livingstone Reef in South Africa  with some high grade gold found in initial rock chip sampling.

The LIP Target is within the company's West Wits lease, and covers a 1 kilometre section of the Livingstone Reef conglomerate package, which has historically been a source of gold production from open cut and underground mining operations.

West Wits will conduct sampling and follow‐up drilling to test the down dip and continuity of the mineralisation in early 2011.

The company has a conceptual target of 3.95‐5.20 million gold ounces and 17‐22 million pounds of uranium.

]]>
Tue, 01 Feb 2011 14:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158451/west-wits-mining-in-trading-halt-pending-capital-raising-and-acquisition-announcement-13563.html
<![CDATA[News - West Wits Mining finds high grade gold in rock chips at new LIP Target ]]> https://www.proactiveinvestors.com.au/companies/news/158450/west-wits-mining-finds-high-grade-gold-in-rock-chips-at-new-lip-target-11421.html There has been some positive finds at Livingstone Reef in South Africa with some high grade gold found in initial rock chip sampling by West Wits Mining (ASX: WWI).

Rock chip highlights from 32 samples include:

- 15.03g/t gold;
- 9.43g/t gold;
- 7.71g/t gold;
- 5.95g/t gold; and
- 5.81g/t gold.

The LIP Target is within the company's West Wits lease, and covers a 1 kilometre section of the Livingstone Reef conglomerate package, which has historically been a source of gold production from open cut and underground mining operations.

West Wits will conduct sampling and follow‐up drilling to test the down dip and continuity of the mineralisation in early 2011.

The company has a conceptual target of; 3.95‐5.20 million gold ounces and 17‐22 million pounds of uranium.

West Wits currently has A$1 million cash in bank.

 

]]>
Thu, 04 Nov 2010 13:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158450/west-wits-mining-finds-high-grade-gold-in-rock-chips-at-new-lip-target-11421.html
<![CDATA[News - West Wits Mining confirms gold mineralisation in Monarch Pit area, South Africa ]]> https://www.proactiveinvestors.com.au/companies/news/158449/west-wits-mining-confirms-gold-mineralisation-in-monarch-pit-area-south-africa-3306.html African-focused West Wits Mining (ASX:WWI) has completed a follow-up mapping and channel sampling program in the historical Monarch Pit area, where significant gold values have been returned.

The Monarch Pit area is the southern strike continuation of the Emerald Project, 1.2km to the north, near Johannesburg, South Africa.

The program was completed due to gold values previously reported in remnant conglomerate reef sitting in the base of the pit as well as in existing stockpiles in and around the pit area.

The basal conglomerate package has returned multiple mineralised intervals over the sampled strike length of 200m. The mineralisation is open along strike to the north and down dip, with widths up to 5m, indicating to the company that there is potential to define additional economic gold mineralisation.

The significant gold values from channel samples across the remnant reef horizons included 4.04m @ 2.53 g/t Au, 5.21m @ 2.75 g/t Au 3.86m @ 3.52 g/t Au and 5.15m @1.72 g/t Au.

The area investigated comprises shallow open pit workings completed in the early 1990s with mining concentrated on the extraction of the Kimberley Reef and Black Reef from surface to an approximate 30 metre vertical depth. Coffey Mining was engaged to complete the sampling and mapping program to determine the extent and distribution of gold within the Monarch Pit. The program involved excavating seven channels or shallow trenches across the width of the pit to expose the individual conglomerate and interbedded quartzite units which were then sampled and submitted for gold analysis.

West Wits managing director Grant Ferguson said the company believed the Monarch Pit sampling program would provide a valuable window into the geology, gold distribution and mining techniques applicable to the proposed mining of the Emerald Project.

"The company also believes that additional drilling within the pit and along strike to the north, along the line of the Kimberley Reef, has the potential to define further near surface gold mineralisation," Mr Ferguson said.

"The Monarch results are seen as very encouraging by the company’s exploration team, firstly as potential, easily accessible, initial feedstock for production whilst the initial Emerald Project pit development is underway.

"And secondly, as further evidence that the 1.2 km untested zone of the Kimberley Reef between the Monarch Pit and the recently announced Emerald Reserve has the potential for significant near surface gold mineralisation."

A drilling program has been designed to test the near surface potential of this zone of Kimberley Reef and will be completed in the first quarter of 2010.

]]>
Mon, 16 Nov 2009 14:07:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158449/west-wits-mining-confirms-gold-mineralisation-in-monarch-pit-area-south-africa-3306.html
<![CDATA[News - West Wits Mining close to toll treatment deal at Emerald Gold Project, South Africa ]]> https://www.proactiveinvestors.com.au/companies/news/158448/west-wits-mining-close-to-toll-treatment-deal-at-emerald-gold-project-south-africa-1586.html The Mineral Resource at the Emerald Project owned by West Wits Mining Ltd (ASX: WWI), 20km west of Johannesburg, South Africa has been upgraded. Total resource is now 124,000 ounces of gold at 1.73 g/t, of which 95,600 ounces is measured resource at 1.81 g/t.

West Wits will focus on bringing the Emerald Project into production through working near surface high grade mineralisation via open cut mining operations to create early cash flows for shareholders. After which, the deeper more significant targets can be worked. Existing underground infrastructure will significantly reduce the capital expenditure required to access the targeted underground areas.

Grant Ferguson, Executive and Technical Director said the resource upgrade of the Emerald Mineral Resource has reinforced the company's approach, focussing on establishing extensive near surface mineralisation with the intention of converting the Mineral Resources into Ore Reserves. The proximity to potential toll treatment facilities and shallow depth of this resource indicates there are reasonable prospects for eventual economic extraction.

West Wits has finalised metallurgical studies which returned overall gold recoveries of 93%, including 30% gravity gold recoveries.  Ground surveys to site the pit and accommodate relevant infrastructure have been completed.  Toll treatment discussions have commenced with various gold processing operators in the area.

Importantly for shareholders, West Wits believes a tolling agreement is anticipated to be completed over the coming weeks.

Pit optimisations and environmental studies have commenced and Ore Reserve estimations are anticipated to now be completed by mid July 2009.

The Witwatersrand Basin, where West Wits has its project areas is regarded as one of the largest mineralised gold and uranium systems in the world and is widely known for its rich, continuous multiple reef ore-bodies.

]]>
Fri, 29 May 2009 08:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158448/west-wits-mining-close-to-toll-treatment-deal-at-emerald-gold-project-south-africa-1586.html