West Wits Mining Limited (ASX:WWI) welcomes written confirmation from South Africa's Department of Mineral Resources and Energy (DMRE) that documentation for the Mining Right application for its Witwatersrand Basin Project is in good order.
In an update from DMRE with regard to the appeals process and application, West Wits was advised that the department's officers are busy processing the Mining Right application.
In light of this progress, the DMRE has indicated that it needs nothing more from the company to complete the processing of the application.
“Nearing positive outcome”
Chairman Michael Quinet said: “This final leg of the Mining Right application has been slower than expected and at times difficult to monitor.
“We, therefore, welcome this written confirmation from the department that the documentation is all in good order.
“Perhaps most importantly, the DMRE have indicated they require nothing further from us to complete the process.
“Whilst we will continue to press our cause carefully and prudently, we are confident this advice from the DMRE suggests the matter is now nearing a positive outcome.
“Our team, led by Jac van Heerden, are in a state of high readiness to commence operations in earnest as soon as the Mining Right is granted.”
Shares have been more than 10% higher today to A$0.087 while the company's market cap pre-open was approximately $110.7 million.
On March 29 the company had the path towards production at the Witwatersrand Basin Project cleared by the reinstatement of the Environmental Authorisation (EA).
Through a detailed written decision, South Africa’s Minister of Forestry, Fisheries and the Environment dismissed all three appeals lodged against the DMRE EA approval.