WWI gets a mention in Fareast Capital newsletter:
http://www.fareastcapital.com.au/imagesDB/newsletter/WeeklyCommentary13April2024.pdf
Rising gold price is making WWI look better
Any company that is fortunate enough to have a large gold resource is looking better by the day. When West Wits did its DFS for the Quala Shallows Gold Project last year, it used the gold price of US$1,850/oz. If we throw US$2,300/oz into the sensitivities table of the model we see a dramatic improvement in the key measures. Have a look at the table below. At the higher gold price the IRR jumps to an impressive 83%. The peak funding requirement falls to only US$34m. (Note that the mine ramps up to full production over three years to achieve steady state production of 70,000 oz p.a.). During that period it will receive cash flow from progressively expanding gold production and sales. The higher the gold price, the more money it can earn during the ramp period to alleviate external funding sources. Thus WWI is a big winner from the leverage to the gold price.
100% of Project
DFS
Updated
1 US$ Gold Price
US$1,850/oz
US$2,300/oz
2 ZAR/USD
17.5
18.5
3 Post Tax NPV7.5
US$255m
US$409m
4 Post Tax IRR
53%
83%
5 Peak Funding Requirement
US$54m
US$34m
NB: WWI is not in production yet. It is negotiating with third parties to secure mine finance. It has a 66% interest in the project.
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